Form 4 - Statement of changes in beneficial ownership of securities

SEC Form 4

FORM 4

UNITED 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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

RITTS GREGORY J.

(Last)

(First)

(Middle)

C/O ALTISOURCE PORTFOLIO SOLUTIONS S.A.

33, BOULEVARD PRINCE HENRI

(Street)

LUXEMBOURG

L-1724

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Legal/Compliance Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/01/2024		M		4,316⁽¹⁾	A	$0.0000	47,952	D
Common Stock	03/01/2024		M		3,333⁽²⁾	A	$0.0000	51,285	D
Common Stock	03/01/2024		F		3,586⁽³⁾	D	$2.78	47,699	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 Security	3. 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)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Share Units	$0.0000	03/01/2024		M			4,316⁽⁴⁾	⁽⁴⁾	⁽⁴⁾	Common Stock	4,316	$0.0000	0.0000	D
Restricted Share Units	$0.0000	03/01/2024		M			3,333⁽⁴⁾	⁽⁴⁾	⁽⁴⁾	Common Stock	3,333	$0.0000	3,334⁽⁵⁾	D

Explanation of Responses:

1. 4,316 shares of ASPS common stock were received upon the vesting of previously granted time-based restricted share units ("RSUs") pursuant to an award under the Company's 2009 Equity Incentive Plan and 2021 Annual Incentive Plan.

2. 3,333 shares of ASPS common stock were received upon the vesting of previously granted time-based RSUs pursuant to an award under the Company's 2009 Equity Incentive Plan and 2022 Long-Term Equity Incentive Plan.

3. Of the 7,649 RSUs vesting into shares reported above, 3,586 shares were foregone to pay for the tax withholding with a net issuance to Mr. Ritts of 4,063 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 1, 2024.

4. Represents the vesting of RSUs. Each RSU represents a contingent right to receive one share of ASPS common stock.

5. The remaining 3,334 RSUs are scheduled to vest on the third anniversary of the grant date (i.e., March 1, 2025).

	/s/ Teresa L. Szupello, Attorney-in-Fact	03/05/2024
	** Signature of Reporting Person	Date
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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