SEC Form 4 · accession 0001470461-18-000002
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
Feb 9, 2018
Accepted (ET)
Feb 13, 2018 · 8:17 am EST
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 | Feb 9, 2018 | M | 168,751 | $9.14 | A | 219,411 | D | |
| Common StockF2,F3 | Feb 9, 2018 | G | 168,751 | $0.00 | D | 50,660 | D | |
| Common Stock | Feb 9, 2018 | G | 168,751 | $0.00 | A | 375,319 | 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 Options | $9.14 | Feb 9, 2018 | M | 17,188 | D | Jun 15, 2011 | Jul 14, 2018 | Common Stock | 17,188 | 151,563 | D |
| Stock Options | $9.14 | Feb 9, 2018 | M | 17,187 | D | Jun 15, 2012 | Jul 14, 2018 | Common Stock | 17,187 | 134,376 | D |
| Stock Options | $9.14 | Feb 9, 2018 | M | 17,187 | D | Jun 15, 2013 | Jul 14, 2018 | Common Stock | 17,187 | 117,189 | D |
| Stock Options | $9.14 | Feb 9, 2018 | M | 17,188 | D | Jul 14, 2011 | Jul 14, 2018 | Common Stock | 17,188 | 100,001 | D |
| Stock Options | $9.14 | Feb 9, 2018 | M | 17,187 | D | Jul 14, 2012 | Jul 14, 2018 | Common Stock | 17,187 | 82,814 | D |
| Stock Options | $9.14 | Feb 9, 2018 | M | 14,064 | D | Dec 23, 2010 | Jul 14, 2018 | Common Stock | 14,064 | 68,750 | D |
| Stock Options | $9.14 | Feb 9, 2018 | M | 34,375 | D | Dec 23, 2011 | Jul 14, 2018 | Common Stock | 34,375 | 34,375 | D |
| Stock OptionsF4 | $9.14 | Feb 9, 2018 | M | 34,375 | D | Dec 23, 2012 | Jul 14, 2018 | Common Stock | 34,375 | 0 | D |
Explanation of responses
- F1Acquired 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 168,751 exercised options and retain the resulting 168,751 shares through the William B. Shepro Revocable Trust.
- F2Represents a transfer by Mr. Shepro of 168,751 shares acquired upon the exercise of options and transferred by gift from his direct ownership to his indirect ownership. The transfer to the William B. Shepro Revocable Trust is reportable on Form 5, but Mr. Shepro is voluntarily reporting early on Form 4.
- F3Represents (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.
- F4Following the reported transaction, Mr. Shepro holds no vested options relating to this grant. Mr. Shepro owns a total of 274,933 vested options from other grants.