SEC Form 4 · accession 0001289315-17-000001
ALTISOURCE PORTFOLIO SOLUTIONS S.A. · ASPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
William B Shepro
Officer — Chief Executive Officer · Director
Period of report
Sep 1, 2017
Accepted (ET)
Sep 5, 2017 · 12:19 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 | May 9, 2017 | G | 9,966 | $0.00 | D | 50,660 | D | |
| Common StockF1 | May 9, 2017 | G | 9,966 | $0.00 | A | 150,318 | I | By William B. Shepro Revocable Trust |
| Common StockF2 | Sep 1, 2017 | M | 56,250 | $9.14 | A | 106,910 | D | |
| Common StockF3,F4 | Sep 1, 2017 | G | 56,250 | $0.00 | D | 50,660 | D | |
| Common Stock | Sep 1, 2017 | G | 56,250 | $0.00 | A | 206,568 | I | By William B. Shepro Revocable Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF2 | $9.14 | Sep 1, 2017 | M | 1,563 | D | Dec 23, 2009 | Jul 14, 2018 | Common Stock | 1,563 | 223,438 | D |
| Stock OptionsF2 | $9.14 | Sep 1, 2017 | M | 17,188 | D | Jun 15, 2010 | Jul 14, 2018 | Common Stock | 17,188 | 206,250 | D |
| Stock OptionsF2 | $9.14 | Sep 1, 2017 | M | 17,188 | D | Jul 14, 2010 | Jul 14, 2018 | Common Stock | 17,188 | 189,062 | D |
| Stock OptionsF2,F5 | $9.14 | Sep 1, 2017 | M | 20,311 | D | Dec 23, 2010 | Jul 14, 2018 | Common Stock | 20,311 | 168,751 | D |
Explanation of responses
- F1Represents a transfer by Mr. Shepro of 9,966 shares from his direct ownership to his indirect ownership, which took place on or around May 9, 2017. The transfer to the William B. Shepro Revocable Trust is reportable on Form 5, but Mr. Shepro is voluntarily reporting early on Form 4.
- F2Acquired by the exercise of options granted pursuant to a stock option award that expires on July 14, 2018. Mr. Shepro elected to pay the exercise price and taxes associated with all 56,250 exercised options and retain the resulting 56,250 shares through the William B. Shepro Revocable Trust.
- F356,250 shares were acquired upon the exercise of options and transferred by gift to the William B. Shepro Revocable Trust. The transfer to the William B. Shepro Revocable Trust is reportable on Form 5, but Mr. Shepro is voluntarily reporting early on Form 4.
- F4Includes (i) 37,733 time-based restricted shares of ASPS common stock, which are scheduled to vest (and will be issued) in two equal installments on the third and fourth anniversaries of the April 15, 2015 grant date (i.e., April 15, 2018 and April 15, 2019) and (ii) 12,927 time-based restricted shares of ASPS common stock, which are scheduled to vest (and will be issued) in three equal installments on the first, second and third anniversaries of the April 7, 2017 grant date (i.e., April 7, 2018, April 7, 2019 and April 7, 2020). Mr. Shepro has no voting rights with respect to these shares until they vest.
- F5Following the reported transaction, Mr. Shepro holds 168,751 vested options relating to this grant and an additional 274,933 vested options from other grants for a total of 443,684 vested options.