SEC Form 4 · accession 0001225208-16-038589
ALTISOURCE PORTFOLIO SOLUTIONS S.A. · ASPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Vivek Bhandari
Officer — President, REIS
Period of report
Aug 29, 2016
Accepted (ET)
Aug 31, 2016 · 1:13 pm 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 | $32.64 | Aug 29, 2016 | A | 3,750 | A | — | Aug 29, 2026 | Common Stock | 3,750 | 3,750 | D |
| Stock OptionsF2 | $32.64 | Aug 29, 2016 | A | 3,750 | A | — | Aug 29, 2026 | Common Stock | 3,750 | 7,500 | D |
Explanation of responses
- F1Mr. Bhandari was granted 3,750 time-based options. The time-based options will vest in 3 annual increments beginning on the first anniversary of the grant date.
- F2Mr. Bhandari was granted 3,750 performance-based options. 2,500 of the performance-based options vest in 3 increments: (a) 833 of the options vest when (i) the share price doubles the exercise price and (ii) investors achieve a 20% Annualized Rate of Return based on the exercise price; and (b) thereafter, 833 of the options vest on the first anniversary of the initial vesting and 834 of the options vest on the second anniversary of the initial vesting. The remaining 1,250 performance-based options vest in 3 increments: (a) 416 of the options vest when (i) the share price triples the exercise price and (ii) investors achieve a 25% Annualized Rate of Return based on the exercise price; and (b) thereafter, 417 of the options vest on each of the first two anniversaries of the initial vesting.