Sec Form 4 Filing - Shepro William B @ Altisource Portfolio Solutions S.A. - 2020-10-01

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person Shepro William B 2. Issuer Name and Ticker or Trading Symbol Altisource Portfolio Solutions S.A. [ ASPS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chairman and CEO (Last) (First) (Middle) 40, AVENUE MONTEREY 3. Date of Earliest Transaction (MM/DD/YY) 10/01/2020 (Street) LUXEMBOURG, N4L-2163 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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 Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Restricted Share Units $ 0 ( 1 ) 10/01/2020 A 40,000 ( 3 ) ( 3 ) ( 3 ) Common Stock 40,000 $ 0 40,000 D Restricted Share Units $ 0 ( 1 ) 10/01/2020 A 10,000 ( 2 ) ( 2 ) ( 2 ) Common Stock 10,000 $ 0 10,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Shepro William B 40, AVENUE MONTEREY LUXEMBOURG, N4L-2163 X Chairman and CEO Signatures /s/ Teresa L. Szupello, Attorney-in-Fact 10/02/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On October 1, 2020, Mr. Shepro was granted 50,000 restricted share units ("RSUs") under the 2009 Equity Incentive Plan; 20% (10,000) of the RSUs are time-based and 80% (40,000) of the RSUs are performance-based. Each RSU represents a contingent right to receive one share of ASPS common stock. ( 2 )Vesting schedule for time-based RSUs: The RSUs are scheduled to vest in three equal installments on the first, second and third anniversaries of the grant date (i.e., October 1, 2021, October 1, 2022 and October 1, 2023). ( 3 )Vesting schedule for performance-based RSUs: (i) 10% of the RSUs will begin vesting when the average closing price of ASPS common stock over a period of 30 calendar days reaches $20, with one-half vesting immediately upon the achievement of such criteria and the remainder vesting on the first anniversary of the date of initial vesting; (ii) 30% of the RSUs will begin vesting when the average closing price of ASPS common stock over a period of 30 calendar days reaches $25, with one-half vesting immediately upon the achievement of such criteria and the remainder vesting on the first anniversary of the date of initial vesting; and (iii) 40% of the RSUs will begin vesting when the average closing price of ASPS common stock over a period of 30 calendar days reaches $35, with one-half vesting immediately upon the achievement of such criteria and the remainder vesting on the first anniversary of the date of initial vesting.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* 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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.