Filing Details
- Accession Number:
- 0000891836-16-000267
- Form Type:
- 13D Filing
- Publication Date:
- 2016-11-22 17:31:51
- Filed By:
- Erbey William C
- Company:
- Altisource Asset Management Corp (NYSE:AAMC)
- Filing Date:
- 2016-11-23
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| William C. Erbey ( Mr. Erbey ) | 733,523 | 0 | 733,523 | 0 | 733,523 | 44.1% |
| Christiansted Trust | 0 | 623,803 | 0 | 623,803 | 623,803 | 39.5% |
| Frederiksted Trust | 0 | 623,803 | 0 | 623,803 | 623,803 | 39.5% |
| Salt Pond Holdings | 0 | 623,803 | 0 | 623,803 | 623,803 | 39.5% |
| Erbey Holding Corporation, Inc | 0 | 623,803 | 0 | 623,803 | 623,803 | 39.5% |
Filing
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION |
| Washington D.C. 20549 |
| SCHEDULE 13D/A |
| (Rule 13d-101) |
| INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO § 240.13D-2(a) UNDER THE SECURITIES EXCHANGE ACT OF 1934 |
| (Amendment No. 3)* |
| Altisource Asset Management Corporation |
| (Name of Issuer) |
| Common Stock, par value $0.01 per share |
| (Title of Class of Securities) |
| 02153X108 |
| (CUSIP Number) |
| William C. Erbey |
| P.O. Box 25437 |
| Christiansted, United States Virgin Islands 00824 |
| (340) 692-1055 |
| (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
| October 27, 2016 |
| (Date of Event which Requires Filing of this Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.£
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| 1. | Names of Reporting Persons | ||
| | | ||
| | William C. Erbey (“Mr. Erbey”) | ||
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) | ||
| | | ||
| | (a) T | ||
| | (b) £ | ||
| 3. | SEC Use Only | ||
| | | ||
| 4. | Source of Funds (See Instructions) | ||
| | | ||
| | N/A | ||
| 5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) o | ||
| | | ||
| 6. | Citizenship or Place of Organization | ||
| | | ||
| | U.S.A. | ||
| Number of Shares Beneficially Owned by Each Reporting Person With | 7. | Sole Voting Power | |
| | | ||
| | 733,523 (1) | ||
| 8. | Shared Voting Power | ||
| | | ||
| | 0 | ||
| 9. | Sole Dispositive Power | ||
| | | ||
| | 733,523 (1) | ||
| 10. | Shared Dispositive Power | ||
| | | ||
| | 0 | ||
| 11. | Aggregate Amount Beneficially Owned by Each Reporting Person | ||
| | | ||
| | 733,523 (1) | ||
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o | ||
| | | ||
| 13. | Percent of Class Represented by Amount in Row (11) | ||
| | | ||
| | 44.1%* | ||
| 14. | Type of Reporting Person (See Instructions) | ||
| | | ||
| | IN | ||
____________
| (1) | Includes (a) 13,145 unvested shares of restricted stock of which 0 shares will vest within 60 days of October 27, 2016; (b) 13,148 shares of common stock held directly; (c) 623,803 shares of common stock held by Salt Pond Holdings, LLC, a U.S. Virgin Islands limited liability company ("Salt Pond") of which Christiansted Trust, a U.S. Virgin Islands trust (the "C-Trust"), the Frederiksted Trust, a U.S. Virgin Islands trust (the "F-Trust"), and Erbey Holding Corporation, Inc., a Delaware corporation ("Erbey Holding" and, together with Mr. Erbey, Salt Pond, the C-Trust and the F-Trust, the "Reporting Persons") are members; and (d) options to acquire 83,427 shares of common stock, which were exercisable on or within 60 days after October 27, 2016. Erbey Holding is wholly owned by Mr. Erbey. Mr. Erbey, E. Elaine Erbey ("Mrs. Erbey"), John Erbey (Mr. Erbey's brother), and Salt Pond are co-trustees of the C-Trust. Mr. Erbey, John Erbey and Salt Pond are co-trustees of the F-Trust. Mr. Erbey, the C-Trust, the F-Trust and Erbey Holding each may be deemed to beneficially own the 623,803 shares of common stock held by Salt Pond. |
| 1. | Names of Reporting Persons | ||
| | | ||
| | Christiansted Trust | ||
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) | ||
| | | ||
| | (a) T | ||
| | (b) £ | ||
| 3. | SEC Use Only | ||
| | | ||
| 4. | Source of Funds (See Instructions) | ||
| | | ||
| | N/A | ||
| 5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) o | ||
| | | ||
| 6. | Citizenship or Place of Organization | ||
| | | ||
| | U.S. Virgin Islands | ||
| Number of Shares Beneficially Owned by Each Reporting Person With | 7. | Sole Voting Power | |
| | | ||
| | 0 | ||
| 8. | Shared Voting Power | ||
| | | ||
| | 623,803 (2) | ||
| 9. | Sole Dispositive Power | ||
| | | ||
| | 0 | ||
| 10. | Shared Dispositive Power | ||
| | | ||
| | 623,803 (2) | ||
| 11. | Aggregate Amount Beneficially Owned by Each Reporting Person | ||
| | | ||
| | 623,803 (2) | ||
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o | ||
| | | ||
| 13. | Percent of Class Represented by Amount in Row (11) | ||
| | | ||
| | 39.5%* | ||
| 14. | Type of Reporting Person (See Instructions) | ||
| | | ||
| | OO | ||
__________
(2) Includes 623,803 shares of common stock held by Salt Pond Holdings, LLC.
(2) Includes 623,803 shares of common stock held by Salt Pond Holdings, LLC.
| 1. | Names of Reporting Persons | ||
| | | ||
| | Frederiksted Trust | ||
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) | ||
| | | ||
| | (a) T | ||
| | (b) £ | ||
| 3. | SEC Use Only | ||
| | | ||
| 4. | Source of Funds (See Instructions) | ||
| | | ||
| | N/A | ||
| 5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) o | ||
| | | ||
| 6. | Citizenship or Place of Organization | ||
| | | ||
| | U.S. Virgin Islands | ||
| Number of Shares Beneficially Owned by Each Reporting Person With | 7. | Sole Voting Power | |
| | | ||
| | 0 | ||
| 8. | Shared Voting Power | ||
| | | ||
| | 623,803 (3) | ||
| 9. | Sole Dispositive Power | ||
| | | ||
| | 0 | ||
| 10. | Shared Dispositive Power | ||
| | | ||
| | 623,803 (3) | ||
| 11. | Aggregate Amount Beneficially Owned by Each Reporting Person | ||
| | | ||
| | 623,803 (3) | ||
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o | ||
| | | ||
| 13. | Percent of Class Represented by Amount in Row (11) | ||
| | | ||
| | 39.5%* | ||
| 14. | Type of Reporting Person (See Instructions) | ||
| | | ||
| | OO | ||
__________
(3) Includes 623,803 shares of common stock held by Salt Pond Holdings, LLC.
(3) Includes 623,803 shares of common stock held by Salt Pond Holdings, LLC.
| 1. | Names of Reporting Persons | ||
| | | ||
| | Salt Pond Holdings, LLC | ||
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) | ||
| | | ||
| | (a) T | ||
| | (b) £ | ||
| 3. | SEC Use Only | ||
| | | ||
| 4. | Source of Funds (See Instructions) | ||
| | | ||
| | N/A | ||
| 5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) o | ||
| | | ||
| 6. | Citizenship or Place of Organization | ||
| | | ||
| | U.S. Virgin Islands | ||
| Number of Shares Beneficially Owned by Each Reporting Person With | 7. | Sole Voting Power | |
| | | ||
| | 0 | ||
| 8. | Shared Voting Power | ||
| | | ||
| | 623,803 (4) | ||
| 9. | Sole Dispositive Power | ||
| | | ||
| | 0 | ||
| 10. | Shared Dispositive Power | ||
| | | ||
| | 623,803 (4) | ||
| 11. | Aggregate Amount Beneficially Owned by Each Reporting Person | ||
| | | ||
| | 623,803 (4) | ||
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o | ||
| | | ||
| 13. | Percent of Class Represented by Amount in Row (11) | ||
| | | ||
| | 39.5%* | ||
| 14. | Type of Reporting Person (See Instructions) | ||
| | | ||
| | OO | ||
___________
(4) Shares held directly by Salt Pond Holdings, LLC.
| 1. | Names of Reporting Persons | ||
| | | ||
| | Erbey Holding Corporation, Inc. | ||
| 2. | Check the Appropriate Box if a Member of a Group (See Instructions) | ||
| | | ||
| | (a) T | ||
| | (b) £ | ||
| 3. | SEC Use Only | ||
| | | ||
| | | ||
| 4. | Source of Funds (See Instructions) | ||
| | | ||
| | N/A | ||
| 5. | Check if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e) o | ||
| | | ||
| 6. | Citizenship or Place of Organization | ||
| | | ||
| | Delaware | ||
| Number of Shares Beneficially Owned by Each Reporting Person With | 7. | Sole Voting Power | |
| | | ||
| | 0 | ||
| 8. | Shared Voting Power | ||
| | | ||
| | 623,803 (5) | ||
| 9. | Sole Dispositive Power | ||
| | | ||
| | 0 | ||
| 10. | Shared Dispositive Power | ||
| | | ||
| | 623,803 (5) | ||
| 11. | Aggregate Amount Beneficially Owned by Each Reporting Person | ||
| | | ||
| | 623,803 (5) | ||
| 12. | Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) o | ||
| | | ||
| 13. | Percent of Class Represented by Amount in Row (11) | ||
| | | ||
| | 39.5%* | ||
| 14. | Type of Reporting Person (See Instructions) | ||
| | | ||
| | CO | ||
____________
| (5) | Includes 623,803 shares held by Salt Pond Holdings, LLC. |
| * | The ownership percentage for each Reporting Person is based upon 1,579,722 shares outstanding as of October 28, 2016, as reported in the Issuer's 10-Q for the fiscal quarter ended September 30, 2016. For Mr. Erbey, 83,427 shares of common stock, which were exercisable on or within 60 days after October 27, 2016, have been added to the shares outstanding to arrive at a total number of shares outstanding of 1,663,149 for purposes of calculating his beneficial ownership only. |
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
| Dated: November 22, 2016 | /s/ William C. Erbey |
| William C. Erbey | |
| Christiansted Trust | ||
| By: | /s/ William C. Erbey | |
| Name: William C. Erbey | ||
| Co-Trustee | ||
| By: | /s/ E. Elaine Erbey | |
| Name: E. Elaine Erbey | ||
| Co-Trustee |
| By: | /s/ John R. Erbey | |
| Name: John R. Erbey | ||
| Co-Trustee |
| By: | /s/ William C. Erbey | |
| Name: Salt Pond Holdings, LLC Title: Co-Trustee Signed By: Name: William C. Erbey | ||
| Title: President | ||