Michelle D. Esterman - Mar 20, 2023 Form 4 Insider Report for ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPS)

Role
Chief Financial Officer
Signature
/s/ Teresa L. Szupello, Attorney-in-Fact
Stock symbol
ASPS
Transactions as of
Mar 20, 2023
Transactions value $
$0
Form type
4
Date filed
3/22/2023, 09:29 PM
Previous filing
Mar 13, 2023
Next filing
Sep 8, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ASPS Restricted Share Units Award $0 +12.5K $0.00 12.5K Mar 20, 2023 Common Stock 12.5K $0.00 Direct F3, F4
transaction ASPS Restricted Share Units Award $0 +12.5K $0.00 12.5K Mar 20, 2023 Common Stock 12.5K $0.00 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 20, 2023, Ms. Esterman was granted 12,500 time-based restricted share units ("RSUs") under the Altisource 2023 Long Term Incentive Plan ("LTIP"). Each RSU represents a contingent right to receive one share of Altisource Portfolio Solutions S.A. ("ASPS") common stock.
F2 The time-based RSUs are scheduled to vest in three equal increments on the first three anniversaries of the grant date (i.e., March 20, 2024; March 20, 2025 and March 20, 2026).
F3 On March 20, 2023, Ms. Esterman was granted 12,500 performance-based RSUs under the Altisource 2023 LTIP. Each RSU represents a contingent right to receive one share of ASPS common stock.
F4 The performance-based RSUs vest following the third anniversary of the Grant Date (i.e., March 20, 2026) subject to the level of achievement described herein. The number of performance-based RSUs that will vest is based on (i) Company performance against designated financial metrics, as established by the Compensation Committee, for each year during the 2023 - 2025 performance period (the "Performance Period") (which performance may increase or decrease the number of RSUs), and (ii) Total Shareholder Return compared to the Russell 2000 Index over the Performance Period (which performance may further increase or decrease the number of RSUs).