SEC Form 4

FORM 4		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 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Shepro William B (Last) (First) (Middle) 40, AVENUE MONTEREY (Street) LUXEMBOURG N4 L-2163 (City) (State) (Zip)	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) Chief Executive Officer
	3. Date of Earliest Transaction (Month/Day/Year) 02/09/2018
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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
Common Stock	02/09/2018		M		168,751(1)	A	$9.14	219,411	D
Common Stock	02/09/2018		G	V	168,751(2)	D	$0	50,660(3)	D
Common Stock	02/09/2018		G	V	168,751	A	$0	375,319	I	By William B. Shepro Revocable Trust

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 (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 Securities Underlying Derivative Security (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: 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
Stock Options	$9.14	02/09/2018		M			17,188	06/15/2011	07/14/2018	Common Stock	17,188	$0	151,563	D
Stock Options	$9.14	02/09/2018		M			17,187	06/15/2012	07/14/2018	Common Stock	17,187	$0	134,376	D
Stock Options	$9.14	02/09/2018		M			17,187	06/15/2013	07/14/2018	Common Stock	17,187	$0	117,189	D
Stock Options	$9.14	02/09/2018		M			17,188	07/14/2011	07/14/2018	Common Stock	17,188	$0	100,001	D
Stock Options	$9.14	02/09/2018		M			17,187	07/14/2012	07/14/2018	Common Stock	17,187	$0	82,814	D
Stock Options	$9.14	02/09/2018		M			14,064	12/23/2010	07/14/2018	Common Stock	14,064	$0	68,750	D
Stock Options	$9.14	02/09/2018		M			34,375	12/23/2011	07/14/2018	Common Stock	34,375	$0	34,375	D
Stock Options	$9.14	02/09/2018		M			34,375	12/23/2012	07/14/2018	Common Stock	34,375	$0	0(4)	D

Explanation of Responses:

1. Acquired by the exercise of options granted pursuant to a stock option award that expires on July 14, 2018. Mr. Shepro elected to pay the exercise price and taxes associated with all 168,751 exercised options and retain the resulting 168,751 shares through the William B. Shepro Revocable Trust.

2. Represents a transfer by Mr. Shepro of 168,751 shares acquired upon the exercise of options and transferred by gift from his direct ownership to his indirect ownership. The transfer to the William B. Shepro Revocable Trust is reportable on Form 5, but Mr. Shepro is voluntarily reporting early on Form 4.

3. Represents (i) 37,733 time-based restricted shares of ASPS common stock, which are scheduled to vest (and will be issued) in two equal installments on the third and fourth anniversaries of the April 15, 2015 grant date (i.e., April 15, 2018 and April 15, 2019) and (ii) 12,927 time-based restricted shares of ASPS common stock, which are scheduled to vest (and will be issued) in three equal installments on the first, second and third anniversaries of the April 7, 2017 grant date (i.e., April 7, 2018, April 7, 2019 and April 7, 2020). Mr. Shepro has no voting rights with respect to these shares until they vest.

4. Following the reported transaction, Mr. Shepro holds no vested options relating to this grant. Mr. Shepro owns a total of 274,933 vested options from other grants.

	/s/ Teresa L. Denoncourt, Attorney-in-Fact	02/13/2018
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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