SEC Form 4 · accession 0001664272-19-000031
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 25, 2019
Accepted (ET)
Feb 27, 2019 · 4:46 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001462418
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Share UnitsF3,F1 | — | Feb 25, 2019 | A | 2,221 | A | — | — | Common Stock | 2,221 | 2,221 | D |
| Restricted Share UnitsF2,F1 | — | Feb 25, 2019 | A | 3,331 | A | — | — | Common Stock | 3,331 | 3,331 | D |
Explanation of responses
- F1Each restricted share unit ("RSU") represents a contingent right to receive one share of Altisource Portfolio Solutions S.A. ("ASPS") common stock.
- F2Award granted as part of Mr. Ritts' annual incentive compensation for the 2018 service year ("2018 Annual Incentive Compensation") based on his personal scorecard performance. As previously reported in a Form 8-K filed on February 16, 2018, the annual incentive award program was amended to require executives to elect to have a minimum of 25% of their annual incentive compensation that was previously paid in cash paid in RSUs. Mr. Ritts elected to receive 70% of his 2018 Annual Incentive Compensation in cash and 30% in RSUs, resulting in the grant of 3,331 RSUs based on the 30-day average closing share price of ASPS common stock of $23.76 preceding the February 25, 2019 grant date. The award is scheduled to vest in two equal installments on the first and second anniversaries of the February 25, 2019 grant date (i.e., February 25, 2020 and February 25, 2021).
- F3As previously reported in a Form 8-K filed on February 16, 2018, a one-time additional equity award was granted to Mr. Ritts for the Company's achievement of 2018 target adjusted earnings per share and Mr. Ritts' achievement of a designated level of scorecard performance for the 2018 service year. Mr. Ritts was granted 2,221 RSUs based on the 30-day average closing share price of ASPS common stock of $23.76 preceding the February 25, 2019 grant date. The award is scheduled to vest in two equal installments on the first and second anniversaries of the February 25, 2019 grant date (i.e., February 25, 2020 and February 25, 2021).