Sec Form 4 Filing - Esterman Michelle D. @ ALTISOURCE PORTFOLIO SOLUTIONS S.A. - 2025-02-19

Insider filing report for Changes in Beneficial Ownership
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: November 30, 2011
Estimated average burden hours per response... 0.5
1. Name and Address of Reporting Person
Esterman Michelle D.
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 Financial Officer
(Last) (First) (Middle)
C/O ALTISOURCE PORTFOLIO SOLUTIONS S.A., 33, BOULEVARD PRINCE HENRI
3. Date of Earliest Transaction (MM/DD/YY)
02/19/2025
(Street)
LUXEMBOURG, N4L-1724
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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)
Code V Amount (A) or (D) Price
Common Stock 02/20/2025 M 45,711 ( 3 ) A $ 0 270,996 D
Common Stock 02/20/2025 M 6,357 ( 4 ) A $ 0 277,353 D
Common Stock 02/20/2025 F 15,437 ( 5 ) D $ 0.81 261,916 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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Share Units ( 1 ) 02/19/2025 A 896,103 ( 2 ) ( 2 ) ( 2 ) Common Stock 896,103 ( 2 ) $ 0 896,103 D
Restricted Share Units ( 1 ) 02/20/2025 M 45,711 ( 3 ) ( 3 ) ( 3 ) Common Stock 45,711 ( 3 ) $ 0 11,428 D
Restricted Share Units ( 1 ) 02/20/2025 M 6,357 ( 4 ) ( 4 ) ( 4 ) Common Stock 6,357 ( 4 ) $ 0 12,715 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Esterman Michelle D.
C/O ALTISOURCE PORTFOLIO SOLUTIONS S.A.
33, BOULEVARD PRINCE HENRI
LUXEMBOURG, N4L-1724
Chief Financial Officer
Signatures
/s/ Teresa L. Szupello, Attorney-in-Fact 02/21/2025
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Each restricted share unit ("RSU") represents a contingent right to receive one share of Altisource Portfolio Solutions S.A. (the "Company") common stock.
( 2 )Ms. Esterman received a grant of 896,103 RSUs. The RSUs were granted to Ms. Esterman on February 13, 2025 pursuant to the Altisource 2009 Equity Incentive Plan, with vesting of the RSUs contingent upon the consummation of the transactions (the "Transactions") contemplated by that certain Transaction Support Agreement, dated as of December 16, 2024 (the "Transaction Support Agreement"). Due to the contingent nature of the closing of the Transactions, the grant of the RSUs was not reportable until the closing date of the Transactions which occurred on February 19, 2025. The RSUs will vest in three equal installments, with one-third vesting on each of the first three anniversaries of the Transaction Effective Date (as such term is defined in the Transaction Support Agreement) (i.e., February 19, 2026, February 19, 2027 and February 19, 2028), subject to Ms. Esterman's continuous service to the Company on and through each applicable vesting date, inclusive.
( 3 )Ms. Esterman received 45,711 shares of ASPS common stock upon the vesting of previously granted time-based RSUs pursuant to an award under the Company's 2009 Equity Incentive Plan and 2023 Annual Incentive Plan. Pursuant to the Award Agreement, 80% of the RSUs vested on February 20, 2025; the remaining 20% (11,428) are scheduled to vest on February 20, 2026.
( 4 )Ms. Esterman received 6,357 shares of ASPS common stock upon the vesting of previously granted time-based RSUs pursuant to an award under the Company's 2009 Equity Incentive Plan and 2024 Long-Term Equity Incentive Plan. The remaining 12,715 RSUs are scheduled to vest in two equal installments on the second and third anniversaries of the grant date (i.e., February 20, 2026 and February 20, 2027).
( 5 )Of the 52,068 RSUs vesting into shares reported above 15,437 shares were foregone to pay for the tax withholding with a net issuance to Ms. Esterman of 36,631 shares. Pursuant to the terms of the award agreements, the price per share used to determine the tax withholding was the opening price of ASPS common stock on February 20, 2025.

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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.