SEC Form 4 · accession 0001664272-19-000013
ALTISOURCE PORTFOLIO SOLUTIONS S.A. · ASPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin James Wilcox
Officer — Chief Admin & Risk Officer
Period of report
Feb 12, 2019
Accepted (ET)
Feb 14, 2019 · 5:45 pm 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 StockF3,F2 | Feb 12, 2019 | F | 5,897 | $24.41 | D | 241,073 | D | |
| Common StockF1,F2 | Feb 12, 2019 | M | 12,500 | $0.00 | A | 246,970 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionsF5 | $24.82 | Feb 12, 2019 | A | 100,000 | A | — | — | Common Stock | 100,000 | 100,000 | D |
| Restricted Share UnitsF4 | $0.00 | Feb 12, 2019 | M | 12,500 | D | — | — | Common Stock | 12,500 | 37,500 | D |
Explanation of responses
- F112,500 shares of ASPS common stock received upon the vesting of previously granted restricted share units ("RSUs") pursuant to an award under the 2018 Long Term Incentive Plan ("2018 LTIP").
- F2Includes (i) 6,833 time-based restricted shares of ASPS common stock, which are scheduled to vest (and will be issued) on the fourth anniversary of the April 15, 2015 grant date (i.e., April 15, 2019) and (ii) 2,011 time-based restricted shares of ASPS common stock, which are scheduled to vest (and will be issued) in two equal installments on the second and third anniversaries of the April 7, 2017 grant date (i.e., April 7, 2019 and April 7, 2020). Mr. Wilcox has no voting rights with respect to these shares until they vest.
- F35,897 shares of the 12,500 shares received upon vesting of RSUs awarded under the 2018 LTIP were foregone to pay for the tax withholdings. Pursuant to the terms of the award agreement, the price per share used to determine the tax withholdings was the opening price of ASPS common stock on February 12, 2019.
- F4Represents the vesting of RSUs. The remaining 37,500 RSUs are scheduled to vest in three equal installments on the second, third and fourth anniversaries of the February 12, 2018 grant date (i.e., February 12, 2020; February 12, 2021; and February 12, 2022). Each RSU represents a contingent right to receive one share of ASPS common stock.
- F5Consists of 25,000 options that vested on February 12, 2019 due to stated criteria and 75,000 options that are scheduled to vest in three equal installments on the first, second and third anniversaries of the February 12, 2019 initial vesting date (i.e., February 12, 2020; February 12, 2021; and February 12, 2022), pursuant to an award under the 2018 LTIP.