0001225208-14-014134.txt : 20140530 0001225208-14-014134.hdr.sgml : 20140530 20140530165232 ACCESSION NUMBER: 0001225208-14-014134 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140521 FILED AS OF DATE: 20140530 DATE AS OF CHANGE: 20140530 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: Altisource Portfolio Solutions S.A. CENTRAL INDEX KEY: 0001462418 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS BUSINESS SERVICES [7380] IRS NUMBER: 000000000 STATE OF INCORPORATION: N4 BUSINESS ADDRESS: STREET 1: 40, AVENUE MONTEREY STREET 2: L-2163 LUXEMBOURG CITY CITY: GRAND DUCHY OF LUXEMBOURG STATE: N4 ZIP: 50 BUSINESS PHONE: 352 24 69 79 00 MAIL ADDRESS: STREET 1: 40, AVENUE MONTEREY STREET 2: L-2163 LUXEMBOURG CITY CITY: GRAND DUCHY OF LUXEMBOURG STATE: N4 ZIP: 50 FORMER COMPANY: FORMER CONFORMED NAME: Altisource Portfolio Solutions S.a.r.l. DATE OF NAME CHANGE: 20090422 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: DAVILA JOSEPH A. CENTRAL INDEX KEY: 0001609339 FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34354 FILM NUMBER: 14880981 MAIL ADDRESS: STREET 1: 40, AVENUE MONTEREY CITY: LUXEMBOURG CITY STATE: N4 ZIP: L-2163 3 1 doc3.xml X0206 3 2014-05-21 0 0001462418 Altisource Portfolio Solutions S.A. ASPS 0001609339 DAVILA JOSEPH A. 40, AVENUE MONTEREY LUXEMBOURG CITY N4 L-2163 LUXEMBOURG 1 President, Mortgage Services Stock Options 32.5500 2021-07-28 Common Stock 25000.0000 D Stock Options 95.1200 2023-05-15 Common Stock 1875.0000 D Stock Options 105.1100 2024-05-15 Common Stock 7500.0000 D On July 28, 2011, Mr. Davila was granted 25,000 options. The vesting schedule is as follows: (1) Time-Based. 6,250 Options (25%) vest in 4 increments, beginning on the anniversary of the grant date. (2) Performance-Based. 12,500 Options (50%) vest in 4 increments: 1/4 of the options vest when: (x) the share price doubles the exercise price and (y) investors achieve a 20% Annualized Rate of Return based on the exercise price. Thereafter, 1/4 of the Options vest each anniversary of the initial vesting. (3) Extraordinary Performance-Based. The remaining 6,250 Options (25%) vest in 4 increments: 1/4 of the Options vest when: (x) the share price triples the exercise price and (y) investors achieve a 25% Annualized Rate of Return based on the exercise price. Thereafter, 1/4 of the Options vest each anniversary of the initial vesting. 3,125 of the Time-Based Options are currently vested, with the remaining 3,125 vesting in two equal annual increments on July 28, 2014 and 2015. 6,250 of the Performance-Based Options are currently vested, with the remaining 6,250 vesting in two equal annual increments on June 18, 2014 and 2015. 3,126 of the Extraordinary Performance-Based Options are currently vested, with the remaining 3,124 vesting in two equal annual increments on October 3, 2014 and 2015. On May 15, 2013, Mr. Davila was granted 1,875 options. The vesting schedule is as follows: Time-Based Options vest in 4 increments, beginning on the anniversary of the grant date. 469 options are currently vested, with the remaining 1,406 vesting in three equal annual increments on May 15, 2015 through 2017. On May 15, 2014, Mr. Davila was granted 7,500 options. The vesting schedule is as follows: (1) Time-Based. 1,875 Options (25%) vest in 4 increments, beginning on the anniversary of the grant date. (2) Performance-Based. 5,625 Options (75%) vest in 4 increments: 1/4 of the options vest on the date when the Board of Directors determines that both of the following performance criteria have been achieved for fiscal year 2014: (x) Altisource's Origination Services division realizes adjusted pre-tax income growth of at least fifty percent (50%) over fiscal year 2013 and (y) the Origination Services division's margin as a percentage of service revenue is at least twenty five percent (25%). Thereafter, 1/4 of the Options vest each anniversary of the initial vesting. None of these options are currently vested. Teresa L. Denoncourt, Attorney-in-Fact 2014-05-30