Gregory J. Ritts - Mar 20, 2024 Form 4 Insider Report for ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPS)

Role
Chief Legal/Compliance Officer
Signature
/s/ Teresa L. Szupello, Attorney-in-Fact
Stock symbol
ASPS
Transactions as of
Mar 20, 2024
Transactions value $
-$28,910
Form type
4
Date filed
3/22/2024, 04:09 PM
Previous filing
Mar 12, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ASPS Common Stock Options Exercise $0 +23.7K +46.62% $0.00 74.4K Mar 20, 2024 Direct F1
transaction ASPS Common Stock Tax liability -$28.9K -11.2K -15% $2.59 63.2K Mar 20, 2024 Direct F2

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 Options Exercise $0 -19.5K -80% $0.00 4.87K Mar 20, 2024 Common Stock 19.5K $0.00 Direct F3, F4
transaction ASPS Restricted Share Units Options Exercise $0 -4.17K -33.34% $0.00 8.33K Mar 20, 2024 Common Stock 4.17K $0.00 Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 23,654 shares of ASPS common stock were received upon the vesting of previously granted restricted share units ("RSUs") pursuant to awards under the Altisource 2023 Annual Incentive Plan ("AIP") and the Altisource 2023 Long Term Incentive Plan ("LTIP").
F2 Of the 23,654 RSUs vesting into shares reported above 11,162 shares were forgone to pay for the tax withholding with a net issuance to Mr. Ritts of 12,492 shares. Pursuant to the terms of the award agreements, the price per share used to determine the tax withholdings was the opening price of ASPS common stock on March 20, 2024.
F3 Represents the vesting of 80% of Time-based RSUs granted to Mr. Ritts on March 20, 2023, pursuant to the Altisource 2023 AIP. Each RSU represents a contingent right to receive one share of ASPS common stock.
F4 The remaining 20% of the Time-based RSUs are scheduled to vest on the second anniversary of the grant date (i.e., March 20, 2025).
F5 Represents the vesting of the first tranche of Type I Time-based RSUs granted to Mr. Ritts on March 20, 2023, pursuant to the Altisource 2023 LTIP. Each RSU represents a contingent right to receive one share of ASPS common stock.
F6 The remaining 8,333 Type I Time-based RSUs are scheduled to vest in two equal installments on the second and third anniversaries of the grant date (i.e., March 20, 2025 and March 20, 2026).