ALTISOURCE PORTFOLIO SOLUTIONS S.A. — Director's Dealing 2014

May 30, 2014

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Altisource Portfolio Solutions S.A. (ASPS)
CIK: 0001462418
Period of Report: 2014-05-21

Reporting Person: DAVILA JOSEPH A. (President, Mortgage Services)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$32.5500	2021-07-28	Common Stock (25000.0000)		Direct
Stock Options	$95.1200	2023-05-15	Common Stock (1875.0000)		Direct
Stock Options	$105.1100	2024-05-15	Common Stock (7500.0000)		Direct

Footnotes

F1: 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.

F2: 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.

F3: 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.

F4: 469 options are currently vested, with the remaining 1,406 vesting in three equal annual increments on May 15, 2015 through 2017.

F5: 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.

F6: None of these options are currently vested.