Form 4: Altisource CFO Michelle Esterman Reports Share Transactions Following RSU Vesting

Michelle Esterman, CFO of Altisource Portfolio Solutions S.A., reports the vesting of restricted share units (RSUs) and subsequent share transactions on March 20, 2024.

Summary

• On March 20, 2024, Michelle Esterman, the Chief Financial Officer of Altisource Portfolio Solutions S.A., had 27,364 shares of ASPS common stock vest from previously granted restricted share units (RSUs).
• These RSUs were granted under the Altisource 2023 Annual Incentive Plan (AIP) and the Altisource 2023 Long Term Incentive Plan (LTIP).
• 8,111 shares were withheld to cover tax obligations, resulting in a net issuance of 19,253 shares to Ms. Esterman.
• The price per share used for tax withholding was the opening price of ASPS common stock on March 20, 2024, which was $2.59.
• Following these transactions, Ms. Esterman directly owns 130,450 shares of Altisource common stock.
• The vesting included 80% of time-based RSUs from the 2023 AIP (23,197 shares) and the first tranche of Type I time-based RSUs from the 2023 LTIP (4,167 shares).
• Remaining RSUs from both plans are scheduled to vest on March 20, 2025, and March 20, 2026.

Sentiment

Score: 5

Explanation: This is a routine filing related to executive compensation. It doesn't indicate positive or negative sentiment, but rather a standard process.

Positives

• The vesting of RSUs indicates that Ms. Esterman is meeting the requirements of her incentive plans.

Future Outlook

Remaining RSUs are scheduled to vest on March 20, 2025, and March 20, 2026.

Industry Context

Form 4 filings are standard practice for reporting insider transactions and are common across publicly traded companies.

Comparison to Industry Standards

• RSU grants are a common form of executive compensation in publicly traded companies, aligning executive interests with shareholder value.
• The vesting schedules described are typical for RSU grants, often spanning multiple years to incentivize long-term performance.

Stakeholder Impact

• The vesting of RSUs aligns management's interests with those of shareholders.

Key Dates