4/A: Altisource Director RSU Grant and Ownership Amendment

Deer Park Road Management filed an amendment to clarify director RSU grants and adjust for a previous reverse stock split.

Summary

• Mary Hickok, a director at Altisource Portfolio Solutions S.A., was granted 19,215 restricted share units (RSUs) on May 21, 2026.
• The RSUs vest at the 2027 Annual General Meeting, contingent on meeting attendance requirements.
• This filing serves as an amendment to correct share allocations and account for a 1-for-8 reverse stock split that occurred on May 28, 2025.
• The economic interest in these shares belongs to STS Master Fund, Ltd. and Deer Park 1850 Fund, LP, rather than the individual director.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing intended to correct historical data and clarify ownership stakes.

Positives

• Director compensation is aligned with long-term shareholder interests through RSU vesting schedules.
• Transparency in reporting ensures accurate tracking of beneficial ownership for 10% shareholders.

Negatives

• The need for an amendment indicates prior reporting inaccuracies regarding share allocation and split adjustments.

Risks

• Continued reliance on board attendance requirements for RSU vesting.
• Potential for future administrative adjustments if complex ownership structures are not perfectly reconciled.

Future Outlook

The RSUs are scheduled to vest on the date of the Issuer's 2027 Annual General Meeting of Shareholders, subject to board attendance requirements.

Management Comments

• The reporting persons disclaim beneficial ownership of the shares except to the extent of their pecuniary interest therein.

Industry Context

StockSavvy.ai notes that this filing is a standard administrative update for institutional investors maintaining board representation, common in the financial services and real estate technology sectors.

Comparison to Industry Standards

• The use of RSU-based compensation for non-management directors is consistent with standard corporate governance practices for publicly traded companies.
• The disclosure of 'director by deputization' is a standard legal requirement for institutional investors with board seats.

Corporate Governance

Related Party Transactions

• The director serves as a representative of Deer Park Road Management Company, LP, which holds a significant stake in the issuer.

Stakeholder Impact

• Shareholders benefit from increased transparency regarding the beneficial ownership of board members.

Next Steps

• Vesting of RSUs at the 2027 Annual General Meeting of Shareholders.

Key Dates

Keywords

Altisource, ASPS, Deer Park Road Management, Director Compensation, RSU, Beneficial Ownership, SEC Form 4