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Share Name | Share Symbol | Market | Type |
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Altisource Portfolio Solutions SA | NASDAQ:ASPS | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.97 | 1.42 | 3.15 | 0 | 09:05:11 |
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Luxembourg
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001-34354
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98-0554932
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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Performance-Based
Stock Options
(1)
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Time-Based
Restricted Share Units
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William B. Shepro
Chief Executive Officer
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100,000
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100,000
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Kevin J. Wilcox
Chief Administration and Risk Officer
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50,000
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50,000
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Michelle D. Esterman
Executive Vice President, Finance
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8,658
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4,957
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Joseph A. Davila
President, Servicer Solutions
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10,823
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6,196
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Gregory J. Ritts
General Counsel
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7,421
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4,249
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(1)
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Represents the target amounts of performance-based options granted. Each executive will vest in zero percent (0%) up to two hundred percent (200%) of the target amount based on pre-determined performance levels. The exercise price for the stock options is $24.82, the closing price of our common stock on the February 12, 2018 grant date.
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Adopted a new payout methodology for compensation earned pursuant to the Company’s annual incentive plan. The Company anticipates that, commencing with incentive compensation earned under this plan for the 2018 service year (payable in 2019), earned compensation (that, for prior service years, was paid in all cash) will be paid in a combination of cash and RSUs, based on allocation elections made by participating employees, subject to certain parameters including a minimum of twenty-five percent (25%) of the annual incentive in RSUs for service year 2018 and an anticipated minimum of thirty-five percent (35%) for the 2019 service year. RSUs received for performance under the annual incentive plan for the 2018 service year will vest in two equal increments on the first two anniversaries of the grant date and, in subsequent years, it is anticipated that RSUs earned under the annual incentive plan will vest in three equal increments on the first three anniversaries of the grant date.
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Approved a program for a one-time additional equity award to executive officers and other key employees, upon attainment of the Company’s 2018 target adjusted earnings per share. Awards in the form of time-based RSUs with a value that will typically be equal to approximately twenty percent (20%) of the employee’s 2018 earned incentive compensation. The time-based RSUs will be granted upon the determination by the Committee of achievement by the Company of target adjusted earnings per share and the employee’s achievement of a designated level of personal scorecard performance for the 2018 service year. The achievement determination is expected to occur in the first quarter of 2019. RSUs issued pursuant to this program will vest in two equal increments on the first two anniversaries of the grant date.
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Altisource Portfolio Solutions S.A.
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By:
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/s/ Kevin J. Wilcox
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Name:
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Kevin J. Wilcox
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Title:
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Chief Administration and Risk Officer
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1 Year Altisource Portfolio Sol... Chart |
1 Month Altisource Portfolio Sol... Chart |
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