Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On March 1, 2022, Scott E. Burg notified Altisource Portfolio Solutions S.A.
(the "Registrant" and together with its subsidiaries, the "Company") of his
intent to resign from the Board of Directors of the Registrant (the "Board")
effective immediately for personal reasons. At the same time as Mr. Burg
resigned from the Board, he also resigned as Chairman of the Compensation
Committee and member of the Nomination/Governance Committee, Audit Committee and
Compliance Committee of the Board. The resignation was not the result of any
disagreement with the Company on any matter relating to the Company's
operations, policies or practices.
On March 1, 2022, Ms. Mary Hickok was appointed to the Board to fill Mr. Burg's
vacancy and appointed to serve as Chair of the Compensation Committee and member
of the Audit Committee. The Board determined that Ms. Hickok meets the
independence requirements under the rules of the Nasdaq and the Registrant's
independence standards. Ms. Hickok will receive the standard non-management
director compensation for serving on the Board, including an initial award of
500 restricted shares of common stock (the "Restricted Shares") granted to each
new non-management Director on the date of their initial election to the Board
of Directors. The Restricted Shares will vest in four equal installments
annually on the date of our annual meeting of shareholders, with the first
installment vesting on the date of the Company's 2022 Annual Meeting of
Shareholders. The specific terms of such compensation will be disclosed after
the applicable award agreement is executed.
A copy of the Company's press release announcing Mr. Burg's resignation and Ms.
Hickok's election is attached hereto as Exhibit 99.1 and incorporated by
reference herein.
Item 9.01 Financial Statements And Exhibits
(d) Exhibits
Exhibit No. Description
Exhibit 99.1 Press Release dated March 7, 2022--------------------------------------------------------------------------------
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ALTISOURCE PORTFOLIO SOLUTIONS S.A. 
