ALTISOURCE PORTFOLIO SOLUTIONS S.A. — Director's Dealing 2015

Apr 17, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Altisource Portfolio Solutions S.A. (ASPS)
CIK: 0001462418
Period of Report: 2015-04-15

Reporting Person: BHANDARI VIVEK (President, Financial Services)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-04-15	Common Stock	A	5600.0000	$0.0000	Acquired	5600.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-04-15	Stock Options	$18.7900	A	20300.0000	Acquired	2025-04-15	Common Stock (20300.0000)	Direct

Footnotes

F1: On 4/15/15, Mr. Bhandari was granted 5,600 restricted shares of ASPS common stock, which are scheduled to vest in three equal installments on the second, third and fourth anniversaries of the grant date (i.e., 4/15/17, 4/15/18 and 4/15/19). In the event that a corporate restructuring or a change of control transaction takes place (1) on or before six months after 4/15/15, 50% of the restricted stock award will vest and the remainder will be forfeited, (2) between six and 18 months after 4/15/15, 75% of the restricted stock award will vest and the remainder will be forfeited and (3) any time more than 18 months from 4/15/15, 100% of the restricted stock award will vest.

F2: On 4/15/15, Mr. Bhandari was granted 20,300 options to acquire shares of ASPS common stock which will vest as follows: (1) 7,800 of the options will vest in three equal installments on the 2nd, 3rd and 4th anniversaries of the grant date (ie. 4/15/17, 4/15/18 and 4/15/19); (2) 8,333 of the options are performance-based and will vest in three equal installments: 1/3 of the options vest when (a) the share price doubles the exercise price and (b) investors achieve a 20% annualized rate of return based on the exercise price. Thereafter, 1/3 of the options vest each anniversary of the initial vesting; and (3) 4,167 of the options are extraordinary performance-based and will vest in three equal installments: 1/3 of the options vest when (a) the share price triples the exercise price and (b) investors achieve a 25% annualized rate of return based on the exercise price. Thereafter, 1/3 of the options vest each anniversary of the initial vesting.