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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES 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 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| 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 control number. | SEC 1474 (9-02) | ||
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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 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) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Shepro William B C/O ALTISOURCE PORTFOLIO SOLUTIONS S.A. 33, BOULEVARD PRINCE HENRI LUXEMBOURG, N4 L-1724 |
X | Chairman and CEO | ||
| /s/ Teresa L. Szupello, Attorney-in-Fact | 07/25/2024 | |
| **Signature of Reporting Person | Date |
| * | 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). |
| (1) | As part of a previously disclosed company-wide cost reduction plan, Mr. Shepro has volunteered to temporarily modify his compensation by offering the Company the option to replace up to 30% of his base compensation with a grant of unrestricted ASPS common stock (the "Adjustment"). At the end of each calendar quarter (each a "Period"), until either Mr. Shepro or the Company, upon written notice, reduces or terminates the Adjustment, the Company will determine the portion of the reduced amount to be paid in common stock and transfer the shares. For the Period ended June 30, 2024, Mr. Shepro received 50,195 shares, which vested immediately. |
| (2) | Represents the cost per share used to calculate the temporary compensation replacement described in Footnote 1. Given that the shares were a replacement for compensation, their net cost was $0. |
| (3) | Of the 50,195 shares granted to Mr. Shepro, reported above, 23,688 shares were forgone to pay for the tax withholding with a net issuance to Mr. Shepro of 26,507 shares. |
| (4) | Represents the cost per share used to determine the tax withholding; the opening price of ASPS common stock on the grant date. |