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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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 N4 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)
02/19/2025
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)
Code V Amount (A) or (D) Price
Common Stock 02/20/2025 M 37,483(3) A $0.0000 102,105 D
Common Stock 02/20/2025 M 6,357(4) A $0.0000 108,462 D
Common Stock 02/20/2025 F 20,339(5) D $0.81 88,123 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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Share Units (1) 02/19/2025 A 746,752(2) (2) (2) Common Stock 746,752(2) $0.0000 746,752 D
Restricted Share Units (1) 02/20/2025 M 37,483(3) (3) (3) Common Stock 37,483(3) $0.0000 9,371 D
Restricted Share Units (1) 02/20/2025 M 6,357(4) (4) (4) Common Stock 6,357(4) $0.0000 12,715 D
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. Mr. Ritts received a grant of 746,752 RSUs. The RSUs were granted to Mr. Ritts 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 Mr. Ritts' continuous service to the Company on and through each applicable vesting date, inclusive.
3. Mr. Ritts received 37,483 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% (9,371) are scheduled to vest on February 20, 2026.
4. Mr. Ritts 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 43,840 RSUs vesting into shares reported above 20,339 shares were foregone to pay for the tax withholding with a net issuance to Mr. Ritts of 23,501 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.
/s/ Teresa L. Szupello, Attorney-in-Fact 02/21/2025
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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