SEC Form 4 · accession 0001225208-16-038590
ALTISOURCE PORTFOLIO SOLUTIONS S.A. · ASPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory J. Ritts
Officer — General Counsel
Period of report
Aug 29, 2016
Accepted (ET)
Aug 31, 2016 · 1:14 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 | 5,000 | A | — | Aug 29, 2026 | Common Stock | 5,000 | 5,000 | D |
| Stock OptionsF2 | $32.64 | Aug 29, 2016 | A | 5,000 | A | — | Aug 29, 2026 | Common Stock | 5,000 | 10,000 | D |
Explanation of responses
- F1Mr. Ritts was granted 5,000 time-based options. The time-based options will vest in 3 annual increments beginning on the first anniversary of the grant date.
- F2Mr. Ritts was granted 5,000 performance-based options. 3,333 of the performance-based options vest in 3 increments: (a) 1,111 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, 1,111 of the options vest on each of the first two anniversaries of the initial vesting. The remaining 1,667 performance-based options vest in 3 increments: (a) 555 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, 556 of the options vest on each of the first two anniversaries of the initial vesting.