ALTISOURCE PORTFOLIO SOLUTIONS S.A. — Director's Dealing 2010

Jul 13, 2010

SEC Form 5/A — Form 5/A

Issuer: Altisource Portfolio Solutions S.A. (ASPS)
CIK: 0001462418
Period of Report: 2009-12-31

Reporting Person: Shepro William B (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-08-10	COMMON STOCK	J	24871	—	Disposed	24871	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-08-10	Employee Stock Options (Right to Buy)	$8.8292	J	3276	Acquired	2011-01-31	Common Stock (3276)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$14.974	J	13334	Acquired	2011-10-31	Common Stock (13334)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$6.9071	J	4866	Acquired	2012-01-31	Common Stock (4866)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$8.352	J	6577	Acquired	2012-01-31	Common Stock (6577)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$2.2312	J	679	Acquired	2013-01-31	Common Stock (679)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$3.3528	J	7018	Acquired	2013-01-31	Common Stock (7018)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$7.3737	J	1993	Acquired	2014-01-31	Common Stock (1993)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$12.8024	J	7969	Acquired	2014-01-31	Common Stock (7969)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$9.5929	J	12051	Acquired	2015-01-31	Common Stock (12051)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$11.5019	J	13230	Acquired	2016-01-31	Common Stock (13230)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$14.1746	J	9459	Acquired	2017-05-10	Common Stock (9459)	Direct
2009-08-10	Employee Stock Options (Right to Buy)	$9.5452	J	275001	Acquired	2018-07-14	Common Stock (275001)	Direct

Footnotes

F1: The shares of common stock and stock options were granted to the reporting person in connection with the separation and spin-off of Altisource Portfolio Solutions ("ASPS") from Ocwen Financial Corporation ("OCN"). In connection with the separation and spin-off, an aggregate of 24,871 shares of ASPS common stock and options to purchase an aggregate of 355,453 shares of ASPS common stock were granted to the reporting person.

F2: The Form 5 filed on February 16, 2010 for Mr. Shepro did not include 469 shares of ASPS common stock owned by Mr. Shepro.

F3: 10,584 were vested at the time of the separation and the remaining 2,646 vested on 1/31/2010.

F4: 5,675 were vested at the time of the separation, 1,892 vested on 12/31/2009 and the remaining 1,892 vest on 12/31/2010.

F5: The vesting schedule has a time-based component, in which 25% of the options vest in equal increments over four years, and a performance-based component, in which up to 75% of the options could vest in equal increments, with 25% vesting immediately upon the achievement of certain performance criteria related to ASPS' stock price and its annualized rate of return and the remaining 75% vesting over the next three years. Two-thirds of the performance-based options commence vesting if the stock price realizes a compounded annual gain of at least 20% over the exercise price, if the stock price is at least double the exercise price. The remaining third of such options commence vesting if the stock price realizes a 25% compounded annual gain, if it is at least triple the exercise price. Of the total time-based component options, 17,188 options were vested at the time of the separation. The remaining options vest in equal annual increments on July 14, 2010 through 2012.