Altisource Asset Management (AAMCF) Form 4 Altisource Asset Management / WILLIAM C ERBEY ownership change

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^*

ERBEY WILLIAM C

(Last) (First) (Middle)

P.O. BOX 25437

(Street)

CHRISTIANSTED, ST. CROIX VI 00824

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Altisource Asset Management Corp [ AAMC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2017

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	03/06/2017		M		80,000(1)	A	$0.66	106,330	D
Common Stock	03/06/2017		M		3,427(1)	A	$0.97	109,757	D
Common Stock								83,427(1)	I	By Spouse
Common Stock								623,803	I	By Salt Pond Holdings, LLC

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	$0.66	03/06/2017		M		80,000(2)		(4)	07/14/2018	Common Stock	80,000	$0	0	D
Stock Options	$0.97	03/06/2017		M		3,427(3)		(5)	05/10/2017	Common Stock	3,427	$0	0	D

Explanation of Responses:

1. Represents shares gifted by Mr. Erbey to his spouse. This transaction resulted in a change in the form of beneficial ownership exempt under Rule 16a-13. As a result, Mr. Erbey directly beneficially owns 26,330 shares of common stock of Altisource Asset Management Corporation.

2. These options were granted pursuant to a stock option award that expires on July 14, 2018.

3. These options were granted pursuant to a stock option award that expires on May 10, 2017.

4. 25% of these stock options vested annually over 4 years based on service, while the remaining 75% of these stock options vested annually based on performance until June 15, 2013.

5. 20% of these stock options vested on May 20, 2007, while the remaining 80% vested annually on each December 31st from December 31, 2007 to December 31, 2010.

	/s/ William C. Erbey	03/08/2017
	** Signature of Reporting Person	Date
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.