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Altisource Portfolio Solutions (ASPS)

Filed: 27 Feb 20, 8:09pm
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Esterman Michelle D.

(Last)(First)(Middle)
40, AVENUE MONTEREY

(Street)
LUXEMBOURGN4L-2163

(City)(State)(Zip)
2. Issuer Name and Ticker or Trading Symbol
Altisource Portfolio Solutions S.A. [ ASPS ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Financial Officer
3. Date of Earliest Transaction (Month/Day/Year)
02/25/2020
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8)4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Common Stock02/25/2020F1,281(3)D$18.9119,295(2)D
Common Stock02/25/2020M4,256(1)A$0.000020,576(2)D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)2. Conversion or Exercise Price of Derivative Security3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8)5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)8. Price of Derivative Security (Instr. 5)9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Share Units$0.000002/25/2020M3,040(5)(5)Common Stock6,080$0.00003,040(5)D
Restricted Share Units$0.000002/25/2020M1,216(4)(4)Common Stock2,432$0.00001,216(4)D
Explanation of Responses:
1. 4,256 shares of ASPS common stock received upon the vesting of previously granted restricted share units ("RSUs") pursuant to an award under the 2009 Equity Incentive Plan, as amended and the 2018 Annual Incentive Plan.
2. Includes 603 time-based restricted shares of ASPS common stock, which are scheduled to vest (and will be issued) on the third anniversary of the April 7, 2017 grant date (i.e., April 7, 2020). Ms. Esterman has no voting rights with respect to these shares until they vest.
3. Of the 4,256 RSUs vesting into shares reported above, 1,281 shares were foregone to pay for the tax withholding with a net issuance to Ms. Esterman of 2,975 shares. 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 25, 2020.
4. Represents the vesting of RSUs. The remaining 1,216 RSUs are scheduled to vest on the second anniversary of the February 25, 2019 grant date (i.e., February 25, 2021). Each RSU represents a contingent right to receive one share of ASPS common stock.
5. Represents the vesting of RSUs. The remaining 3,040 RSUs are scheduled to vest on the second anniversary of the February 25, 2019 grant date (i.e., February 25, 2021). Each RSU represents a contingent right to receive one share of ASPS common stock.
/s/ Teresa L. Szupello, Attorney-in-Fact02/27/2020
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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