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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 2270 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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(A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | |||||||||
Employee Stock Options (Right to Buy) | $ 8.8293 | 08/10/2009 | Â | J(1) | 788 | Â | 08/10/2009 | 01/31/2011 | Common Stock | $ 8.8293 | 788 | Â | ||
Employee Stock Options (Right to Buy) | $ 14.974 | 08/10/2009 | Â | J(1) | 13,334 | Â | 08/10/2009 | 10/31/2011 | Common Stock | $ 14.974 | 13,334 | Â | ||
Employee Stock Options (Right to Buy) | $ 6.9071 | 08/10/2009 | Â | J(1) | 3,217 | Â | 08/10/2009 | 01/31/2012 | Common Stock | $ 6.9071 | 3,217 | Â | ||
Employee Stock Options (Right to Buy) | $ 8.352 | 08/10/2009 | Â | J(1) | 2,144 | Â | 08/10/2009 | 01/31/2012 | Common Stock | $ 8.352 | 2,144 | Â | ||
Employee Stock Options (Right to Buy) | $ 2.2312 | 08/10/2009 | Â | J(1) | 1,766 | Â | 08/10/2009 | 01/31/2013 | Common Stock | $ 2.2312 | 1,766 | Â | ||
Employee Stock Options (Right to Buy) | $ 3.3528 | 08/10/2009 | Â | J(1) | 2,649 | Â | 08/10/2009 | 01/31/2013 | Common Stock | $ 3.3528 | 2,649 | Â | ||
Employee Stock Options (Right to Buy) | $ 7.3736 | 08/10/2009 | Â | J(1) | 749 | Â | 08/10/2009 | 01/31/2014 | Common Stock | $ 7.3736 | 749 | Â | ||
Employee Stock Options (Right to Buy) | $ 12.8024 | 08/10/2009 | Â | J(1) | 2,996 | Â | 08/10/2009 | 01/31/2014 | Common Stock | $ 12.8024 | 2,996 | Â | ||
Employee Stock Options (Right to Buy) | $ 9.5929 | 08/10/2009 | Â | J(1) | 4,798 | Â | 08/10/2009 | 01/31/2015 | Common Stock | $ 9.5929 | 4,798 | Â | ||
Employee Stock Options (Right to Buy) | $ 11.5019 | 08/10/2009 | Â | J(1) | 5,948 | Â | Â (3) | 01/31/2016 | Common Stock | $ 11.5019 | 5,948 | Â | ||
Employee Stock Options (Right to Buy) | $ 14.1746 | 08/10/2009 | Â | J(1) | 8,130 | Â | Â (4) | 05/10/2017 | Common Stock | $ 14.1746 | 8,130 | Â | ||
Employee Stock Options (Right to Buy) | $ 9.5452 | 08/10/2009 | Â | J(1) | 206,668 | Â | Â (5) | 07/14/2018 | Common Stock | $ 9.5452 | 206,668 | Â |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
WILCOX KEVIN JAMES 2 RUE JEAN BERTHOLET LUXEMBOURG, N4 L-1233 |
 |  |  CAO & General Counsel |  |
/s/ Kevin J. Wilcox | 07/13/2010 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The shares of common stock and stock options were granted to the reporting person in connection with the separation and spin-off of Altisource Portfolio Solutions ("ASPS") from Ocwen Financial Corporation ("OCN"). In connection with the separation and spin-off, an aggregate of 732 shares of ASPS common stock and options to purchase an aggregate of 253,187 shares of ASPS common stock were granted to the reporting person. |
(2) | The Form 5 filed on February 16, 2010 for Mr. Wilcox did not include 218 shares of ASPS common stock owned by Mr. Wilcox. |
(3) | 4,758 were vested at the time of the separation and the 1,190 vested on 1/31/2010. |
(4) | 4,878 were vested at the time of the separation, 1,626 vested on 12/31/2009 and 1,626 vest on 12/31/2010. |
(5) | The vesting schedule has a time-based component, in which 25% of the options vest in equal increments over four years, and a performance-based component, in which up to 75% of the options could vest in equal increments, with 25% vesting immediately upon the achievement of certain performance criteria related to ASPS' stock price and its annualized rate of return and the remaining 75% vesting over the next three years. Two-thirds of the performance-based options commence vesting if the stock price realizes a compounded annual gain of at least 20% over the exercise price, if the stock price is at least double the exercise price. The remaining third of such options commence vesting if the stock price realizes a 25% compounded annual gain, if it is at least triple the exercise price. Of the total time-based component options, 12,917 options were vested at the time of the separation. The remaining options vest in equal annual increments on July 14, 2010 through 2012. |