Altisource Portfolio Solutions S.A. Announces Annual Meeting of Shareholders

TL;DR

<b>Altisource Portfolio Solutions S.A. is convening its Annual Meeting of Shareholders on May 30, 2024, urging shareholder participation via proxy or in person.</b>

AI Summary

ALTISOURCE PORTFOLIO SOLUTIONS S.A. (ASPSW) filed a Proxy Statement (DEF 14A) with the SEC on April 17, 2024. Altisource Portfolio Solutions S.A. will hold its Annual Meeting of Shareholders on May 30, 2024, at 9:00 a.m. Central European Time in Luxembourg. Shareholders are encouraged to be represented at the meeting, whether in person or by proxy. Proxies can be authorized via the Internet or mail for shareholders of record. Instructions for voting are provided for shareholders holding shares through a bank or broker. The filing is a Definitive Proxy Statement (DEF 14A) filed on April 17, 2024.

Why It Matters

For investors and stakeholders tracking ALTISOURCE PORTFOLIO SOLUTIONS S.A., this filing contains several important signals. Shareholder participation is crucial for corporate governance and decision-making, as outlined in the proxy statement. The meeting will cover essential business matters, and timely voting ensures shareholder voice is heard on company direction.

Risk Assessment

Risk Level: low — ALTISOURCE PORTFOLIO SOLUTIONS S.A. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational risks indicated.

Analyst Insight

Review the proxy materials to understand the agenda for the Annual Meeting and ensure your vote is cast on important corporate matters.

Key Numbers

• May 30, 2024 — Annual Meeting Date (Date of the Annual Meeting of Shareholders)
• 9:00 a.m. CET — Annual Meeting Time (Time of the Annual Meeting of Shareholders)
• DEF 14A — Filing Type (Form type for the proxy statement)
• 001-34354 — SEC File Number (SEC file number for Altisource Portfolio Solutions S.A.)

Key Players & Entities

• Altisource Portfolio Solutions S.A. (company) — Registrant and company holding the Annual Meeting
• William B. Shepro (person) — Chairman and Chief Executive Officer
• May 30, 2024 (date) — Date of the Annual Meeting of Shareholders
• April 17, 2024 (date) — Filing date of the proxy statement
• 33, Boulevard Prince Henri, L-1724 Luxembourg City (location) — Registered office address

FAQ

Industry Context

Altisource Portfolio Solutions S.A. operates in the business services sector, providing technology and services to the mortgage and lending industries.

Regulatory Implications

The filing is made under Section 14(a) of the Securities Exchange Act of 1934, governing proxy solicitations.

What Investors Should Do

1. Review the proxy statement for agenda items and proposals to be voted on.
2. Follow instructions to submit your proxy vote via internet, mail, or by instructing your broker.
3. Attend the Annual Meeting on May 30, 2024, if possible, or ensure your vote is counted.

Key Dates

• 2024-05-30: Annual Meeting of Shareholders — Key date for shareholder voting and corporate decisions.
• 2024-04-17: Filing Date of DEF 14A — Indicates when the proxy materials were officially submitted to the SEC.

Year-Over-Year Comparison

This is a DEF 14A filing, indicating it's the definitive proxy statement for the upcoming annual meeting, following any preliminary filings.

Key Financial Figures

• $16.4 million — d total Company loss from operations by $16.4 million in 2023 compared to 2022 by (i) improvi
• $30 m — e senior secured term loans of at least $30 million, which condition was satisfied in
• $38.8 million — of default as of such date Generated $38.8 million in net proceeds from the sale of common
• $30 million — from the sale of common stock and used $30 million to partially repay the term loans; deta
• $5.00 — t of our treasury shares, at a price of $5.00 per share, generating net proceeds of a
• $21.2 m — enerating net proceeds of approximately $21.2 million, after deducting the underwriting
• $20 million — ns and other offering expenses; we used $20 million of the net proceeds to repay the term l
• $3.60 — ury shares, at a price to the public of $3.60 per share, generating net proceeds of a
• $18.3 m — enerating net proceeds of approximately $18.3 million, after deducting the underwriting
• $10 million — ns and other offering expenses; we used $10 million of the net proceeds to repay the term l
• $32.5 million — er Luxembourg law Ended the year with $32.5 million of cash and cash equivalents, $15.0 mil
• $15.0 million — 5 million of cash and cash equivalents, $15.0 million available under a revolving credit faci
• $191.6 million — e under a revolving credit facility and $191.6 million of net debt Business Segments In th
• $7.0 million — operations in the Business Segments by $7.0 million to $26.1 million, representing 19.1% of
• $26.1 m — he Business Segments by $7.0 million to $26.1 million, representing 19.1% of service re

Filing Documents

• tm242671-2_def14a.htm (DEF 14A) — 1039KB
• bc_compenasation-4clr.jpg (GRAPHIC) — 22KB
• bc_currentboardl-4clr.jpg (GRAPHIC) — 24KB
• bc_denotes-4clr.jpg (GRAPHIC) — 31KB
• bc_executive-4clr.jpg (GRAPHIC) — 25KB
• bc_overall-4clr.jpg (GRAPHIC) — 54KB
• fc_award-4clr.jpg (GRAPHIC) — 42KB
• lg_altisource-4clr.jpg (GRAPHIC) — 11KB
• pc_boardtenure-4clr.jpg (GRAPHIC) — 67KB
• px_24altiproxy01pg01-bw.jpg (GRAPHIC) — 329KB
• px_24altiproxy01pg02-bw.jpg (GRAPHIC) — 323KB
• sg_gregoryritts-4c.jpg (GRAPHIC) — 7KB
• sg_williamshepro-4c.jpg (GRAPHIC) — 6KB
• 0001104659-24-048295.txt (&nbsp;) — 2332KB

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 30

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 33 PROPOSAL TWO: APPOINTMENT OF OUR INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM AND CERTIFIED AUDITOR 46 REPORT OF THE AUDIT COMMITTEE 47 EXTERNAL AUDITOR FEES 48 PROPOSAL THREE: APPROVAL OF OUR LUXEMBOURG STATUTORY ACCOUNTS 50 PROPOSAL FOUR: RECEIPT AND APPROVAL OF OUR DIRECTORS' REPORT FOR THE LUXEMBOURG STATUTORY ACCOUNTS AND RECEIPT OF OUR SUPERVISORY AUDITOR'S REPORT FOR THE LUXEMBOURG ANNUAL ACCOUNTS 51 PROPOSAL FIVE: ALLOCATION OF THE RESULTS IN THE LUXEMBOURG ANNUAL ACCOUNTS 52 PROPOSAL SIX: DISCHARGE OF OUR DIRECTORS AND SUPERVISORY AUDITOR 53 PROPOSAL SEVEN: ADVISORY VOTE ON EXECUTIVE COMPENSATION ("SAY-ON-PAY") 54 PROPOSAL EIGHT: APPROVE THE AMENDMENT OF OUR 2009 EQUITY INCENTIVE PLAN (THE "PLAN") TO INCREASE THE NUMBER OF SHARES OF COMMON STOCK RESERVED FOR ISSUANCE UNDER THE PLAN BY AN ADDITIONAL 3.3 MILLION SHARES 55 BUSINESS RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 57 SHAREHOLDER PROPOSALS 58 ANNUAL REPORT 58 2 TABLE OF CONTENTS ALTISOURCE PORTFOLIO SOLUTIONS S.A. 33, Boulevard Prince Henri L-1724 Luxembourg City Grand Duchy of Luxembourg R.C.S. Luxembourg B72391 NOTICE OF ANNUAL MEETING OF SHAREHOLDERS AND IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON MAY 30, 2024 NOTICE Our Annual Meeting of Shareholders ("Annual Meeting") will be held: Date: Thursday, May 30, 2024 Time: 9:00 a.m. Central European Time Location: Altisource Portfolio Solutions S.A. 33, Boulevard Prince Henri L-1724 Luxembourg City Grand Duchy of Luxembourg PURPOSE To elect five (5) Directors to serve until the next annual meeting of shareholders or until their respective successors have been elected and qualified; To approve the appointment of RSM US LLP as our independent registered certified public accounting firm for the year ending December 31, 2024 and until our 2025 annual meeting

View Full Filing

View this DEF 14A filing on SEC EDGAR