Michelle D. Esterman - Feb 20, 2024 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
Feb 20, 2024
Transactions value $
$0
Form type
4
Date filed
2/22/2024, 04:10 PM
Previous filing
Jan 4, 2024
Next filing
Mar 5, 2024

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 +57.1K $0.00 57.1K Feb 20, 2024 Common Stock 57.1K $0.00 Direct F1, F2
transaction ASPS Restricted Share Units Award $0 +19.1K $0.00 19.1K Feb 20, 2024 Common Stock 19.1K $0.00 Direct F1, F3, F4
transaction ASPS Restricted Share Units Award $0 +19.1K $0.00 19.1K Feb 20, 2024 Common Stock 19.1K $0.00 Direct F1, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted share unit ("RSU") represents a contingent right to receive one share of Altisource Portfolio Solutions S.A. ("ASPS") common stock.
F2 Ms. Esterman was granted 57,139 RSUs based on the 30-day average closing share price of ASPS common stock preceding the grant date of February 20, 2024. The RSUs were granted to Ms. Esterman as annual incentive compensation for the 2023 service year ("2023 Annual Incentive Compensation") based upon the Board approved bonus pool funding level and her personal scorecard performance. Altisource determined to pay 100% of the 2023 Annual Incentive Compensation in RSUs; 80% of the RSUs will vest on the first anniversary of the February 20, 2024 grant date (i.e., February 20, 2025) and the remaining 20% of the RSUs will vest on the second anniversary of the grant date (i.e., February 20, 2026).
F3 On February 20, 2024, Ms. Esterman was granted 19,072 time-based RSUs under the Altisource 2024 Long Term Incentive Plan ("LTIP").
F4 The time-based RSUs are scheduled to vest in three equal installments on the first three anniversaries of the grant date (i.e., February 20, 2025; February 20, 2026 and February 20, 2027).
F5 On February 20, 2024, Ms. Esterman was granted 19,072 performance-based RSUs under the Altisource 2024 LTIP.
F6 The performance-based RSUs vest following the third anniversary of the Grant Date (i.e., February 20, 2027) 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 2024 - 2026 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).