Employment Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2013

Projected Benefit Payments from Postretirement Plan

The following table sets forth projected benefit payments from Ambac’s postretirement plan over the next ten years for current retirees:


	Amount
2014		299
2015		327
2016		339
2017		337
2018		358
All later years		2,141

	$	3,801

Schedule of Assumptions on Stock Options Grant

The Black-Scholes-Merton model was used to estimate the fair value of the service condition based stock options on the grant date. The assumptions for the 2013 stock option grant are as follows:


	2013
Risk-free interest rate		0.963	%
Expected volatility		50.2	%
Dividend yield		0.0	%
Expected life		3.33 years

Option Activity

A summary of option activity for the years ending December 31, 2013 and 2012 is as follows:


	Successor Ambac – 8 months Ended December 31, 2013
	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life
Outstanding at beginning of period		—	$	—
Granted		66,668		20.63	$	262		6.98
Exercised		—		na.
Forfeited or expired		—		na.

Outstanding at end of period		66,668	$	20.63	$	262		6.98

Exercisable		—	$	—	$	—		na.


	Predecessor Ambac – 4 months Ended April 30, 2013
	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life
Outstanding at beginning of period		602,775		$41.17
Granted		—		na.
Exercised		—		na.
Forfeited or expired		(602,775)		$41.17

Outstanding at end of period		—		na.		$—		na.

Exercisable		—		$ —		$—		na.


	Predecessor Ambac – December 31, 2012
	Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value		Weighted Average Remaining Contractual Life
Outstanding at beginning of year		1,139,429		$45.15
Granted		—		na.
Exercised		—		na.
Forfeited or expired		(536,654)		$49.63

Outstanding at end of year		602,775		$41.17		$—		1.46

Exercisable		602,775		$41.17		$—		1.46

RSU Awards Information

Information with respect to the RSU awards is as follows:


	2013
RSUs and other stock awarded		155,123
Weighted average fair value per share	$	20.63
Gross RSU expense	$	1,051
Net income effect	$	1,051

Summary of Rsu and Other Stock Activity

A summary of RSU activity for 2013 and 2012 is as follows:


	Successor Ambac – 8 Months Ended December 31, 2013
	Shares			Weighted Average Grant Date Fair Value
Outstanding at beginning of period		—		$	—
Granted		155,123		$	20.63
Delivered		(937	)	$	20.63
Forfeited		—		$	—

Outstanding at end of period		154,186		$	20.63


	Predecessor Ambac – 4 Months Ended April 30, 2013
	Shares			Weighted Average Grant Date Fair Value
Outstanding at beginning of period		104,389		$	21.43
Granted		—		$	—
Delivered		(843	)	$	74.43
Forfeited		(103,546	)	$	20.40

Outstanding at end of period		—		$	—


	Predecessor Ambac – December 31, 2012
	Shares			Weighted Average Grant Date Fair Value
Outstanding at beginning of year		113,739		$	23.96
Granted		—		$	—
Delivered		(9,350	)	$	52.16
Forfeited		—		$	—

Outstanding at end of year		104,389		$	21.43