SEC Form 4 · accession 0001664272-19-000016
ALTISOURCE PORTFOLIO SOLUTIONS S.A. · ASPS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gregory J. Ritts
Officer — Chief Legal/Compliance Officer
Period of report
Feb 12, 2019
Accepted (ET)
Feb 14, 2019 · 5:49 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 | 489 | $24.41 | D | 23,631 | D | |
| Common StockF1,F2 | Feb 12, 2019 | M | 1,062 | $0.00 | A | 24,120 | 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 | 14,842 | A | — | — | Common Stock | 14,842 | 14,842 | D |
| Restricted Share UnitsF4 | $0.00 | Feb 12, 2019 | M | 1,062 | D | — | — | Common Stock | 1,062 | 3,187 | D |
Explanation of responses
- F11,062 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) 1,867 time-based restricted shares of ASPS common stock (hereinafter Restricted Shares), which are scheduled to vest (and will be issued) on the 4th anniversary of the 4/15/15 grant date (i.e., 4/15/19); (ii) 1,005 time-based Restricted Shares, which are scheduled to vest (and will be issued) in 2 equal installments on the 2nd and 3rd anniversaries of the 4/7/17 grant date (i.e., 4/7/19 and 4/7/20); (iii) 3,333 time-based Restricted Shares, which are scheduled to vest (and will be issued) in 2 equal installments on the 2nd and 3rd anniversaries of the 7/27/17 grant date (i.e., 7/27/19 and 7/27/20); and (iv) 11,250 time-based Restricted Shares, which are scheduled to vest (and will be issued) in 3 equal installments on the 2nd, 3rd and 4th anniversaries of the 11/13/17 grant date (i.e., 11/13/19, 11/13/20 and 11/13/21). Mr. Ritts has no voting rights with respect to these shares until they vest.
- F3489 shares of the 1,062 shares received upon the 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 3,187 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 3,710 options that vested on February 12, 2019 due to stated criteria and 11,132 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.