---
schema_version: "secwatch.filing_event.v1"
accession: "0000874501-23-000018"
form_type: "8-K"
ticker: "OSG"
cik: "0000874501"
company_name: "OCTAVE SPECIALTY GROUP INC"
filed_at: "2023-01-27T23:59:59+00:00"
generated_at: "2026-06-20T07:35:56.444763+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.25
calibrated_materiality_score: 0.25
confidence: "high"
source: SEC EDGAR
---

# Ambac amends bylaws to adopt majority voting for director elections and update universal proxy card rules

## Summary
- Majority voting standard for uncontested director elections; plurality retained for contested elections.
- Directors who fail to receive majority of votes must submit resignation within 10 business days; Board decides within 90 days.
- Nominating stockholders must comply with universal proxy card rules and solicit proxies representing at least 67% of voting power.
- Bylaw updates also reflect recent Delaware DGCL changes removing requirement to provide stockholder list at meetings.
- Amendments effective January 26, 2023; full text filed as Exhibit 2.1.

## SEC filing metadata
- accession: 0000874501-23-000018
- form_type: 8-K
- ticker: OSG
- cik: 0000874501
- company_name: OCTAVE SPECIALTY GROUP INC
- filed_at: 2023-01-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.25
- calibrated_materiality_score: 0.25
- confidence: high
- sec_items: 5.03, 9.01, 2.1
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874501/000087450123000018/0000874501-23-000018-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874501/000087450123000018/ambc-20230126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000874501-23-000018
- JSON: https://secwatch.observer/filing/0000874501-23-000018.json
- Plain text: https://secwatch.observer/filing/0000874501-23-000018.txt

## Key facts
- Governance Changes
  OCTAVE SPECIALTY GROUP INC: Amended Bylaws to adopt majority voting in uncontested director elections and update procedures for universal proxy card rules (effective 2023-01-26).
  - Change: bylaw amendment
  - Effective: 2023-01-26
  source text: On January 26, 2023, the Board of Directors (the “Board”) of Ambac Financial Group, Inc. (“AFG”) approved certain amendments to AFG’s By-laws (the “By-laws”), effective as of such date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/874501/000087450123000018/0000874501-23-000018-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.