SEC Form 4 · accession 0001225208-15-007616
ALTISOURCE PORTFOLIO SOLUTIONS S.A. · ASPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph A. Davila
Officer — President, Mortgage Services
Period of report
Nov 11, 2014
Accepted (ET)
Mar 12, 2015 · 8:50 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001462418
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF1 | $72.78 | Nov 11, 2014 | A | 25,000 | A | — | Nov 11, 2024 | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1On November 11, 2014, Mr. Davila was granted 25,000 options. The vesting schedule is as follows: (1) Time Based. 6,250 options (25%) vest in 4 increments, beginning on the anniversary of the grant date; (2) Performance Based. 12,500 options (50%) vest in 4 increments: 1/4 of the options vest when (a) the share price doubles the exercise price and (b) investors achieve a 20% Annualized Rate of Return based on the exercise price. Thereafter, 1/4 of the options vest each anniversary of the initial vesting; and (3) Extraordinary Performance Based. The remaining 6,250 options (25%) vest in 4 increments: 1/4 of the options vest when (a) the share price triples the exercise price and (b) investors achieve a 25% Annualized Rate of Return based on the exercise price. Thereafter, 1/4 of the options vest each anniversary of the initial vesting.