SEC Form 4 · accession 0001225208-17-016174
ALTISOURCE PORTFOLIO SOLUTIONS S.A. · ASPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Indroneel Chatterjee
Officer — Chief Financial Officer
Period of report
Oct 5, 2017
Accepted (ET)
Oct 10, 2017 · 6:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001462418
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Oct 5, 2017 | A | 19,533 | $0.00 | A | 19,533 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF2 | $27.29 | Oct 5, 2017 | A | 20,000 | A | — | Oct 5, 2027 | Common Stock | 20,000 | 20,000 | D |
Explanation of responses
- F1Upon joining on October 5, 2017, Mr. Chatterjee was granted 19,533 time-based restricted shares of ASPS common stock, which are scheduled to vest in four equal installments on the first, second, third and fourth anniversaries of the October 5, 2017 grant date (i.e., October 5, 2018, October 5, 2019, October 5, 2020 and October 5, 2021). Mr. Chatterjee has no voting rights with respect to these shares until they vest.
- F2Upon joining on October 5, 2017, Mr. Chatterjee was granted 20,000 market-based options. 13,333 of the market-based options vest in 3 increments: (a) 4,444 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, 4,444 of the options vest on the first anniversary of the initial vesting and 4,445 of the options vest on the second anniversary of the initial vesting. The remaining 6,667 market-based options vest in 3 increments: (a) 2,222 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, 2,222 of the options vest on the first anniversary of the initial vesting and 2,223 of the options vest on the second anniversary of the initial vesting.