CONSUMER PORTFOLIO SERVICES, INC. SEC Filings

Consumer Portfolio Services, Inc. completed a securitization of approximately $734.51 million of subprime automobile receivables through CPS Auto Receivables Trust 2026-C. The trust issued and sold $716.88 million of asset-backed notes in five classes, backed by a fixed pool of amortizing receivables.

CPS sold the receivables to a wholly owned subsidiary, which sold them to the trust; the notes are obligations of the trust but are treated as long-term debt of CPS. Class A–E coupons range from 4.52% to 7.65%, with a weighted average coupon of approximately 5.90%. CPS will service the receivables, while Computershare Trust Company acts as trustee, collateral agent and backup servicer.

Initial credit enhancement consists of a reserve account equal to 1.00% of the receivable pool and 2.40% over-collateralization, with required enhancement building to the lesser of 7.70% of the original pool or 19.10% of the then outstanding balance, but not below 1.50%. This is described as the largest securitization in the company's history and its 60th senior subordinate transaction since 2011, and the 43rd consecutive securitization whose senior class received triple A ratings from at least two agencies.

Consumer Portfolio Services, Inc. renewed and increased its revolving warehouse credit facility with Citibank, N.A. and a subordinate lender, raising the maximum capacity from $335 million to $508 million. Borrowings are secured by automobile receivables that CPS holds or will originate and sell or contribute to a wholly owned subsidiary.

The facility allows advances of up to 96% of the principal balance of eligible pledged receivables, with the actual advance rate depending on receivable characteristics, securitization terms, and portfolio performance. CPS may borrow on a revolving basis through July 17, 2028, after which it can either repay outstanding loans in full or allow them to amortize over a one-year period, subject to possible earlier termination or acceleration upon defined events of default linked to credit losses, consumer bankruptcies, regulatory changes, or adverse economic conditions.

Consumer Portfolio Services, Inc. reported that the Teri Lee Robinson Living Trust, associated with Executive Vice President Teri Robinson, made a bona fide gift of 660 shares of common stock. No payment was received for the transfer. Following the gift, the trust holds 495,805 shares indirectly.

CONSUMER PORTFOLIO SERVICES, INC. senior vice president Susan Ryan reported a compensation-related stock option exercise combined with tax withholding. She exercised options covering 30,000 shares of common stock at an exercise price of $3.53 per share.

According to the footnotes, this was a "net exercise": she received 18,359 shares of common stock and forfeited 11,641 shares to cover the option exercise price and related tax liability, using the $9.60 closing stock price on June 30, 2026. The option, originally granted for services to the company and vesting in four annual installments of 7,500 shares from August 8, 2020 through August 8, 2023, is now fully exercised with no remaining derivative position from this grant.

CONSUMER PORTFOLIO SERVICES, INC. senior vice president Charles E. Gonel reported an option-related share transaction. He exercised stock options for 30,000 shares of common stock at an exercise price of $3.53 per share. As part of a net exercise, 11,095 shares were forfeited to cover the exercise price and tax liability using the $10.00 closing stock price on June 26, 2026, and he received 18,905 shares of common stock. Following these transactions, he directly holds 43,752 shares of common stock, and the exercised option covering 30,000 shares is fully exhausted.

Consumer Portfolio Services senior vice president Noel Jackson exercised stock options to acquire 7,000 shares of common stock at $3.53 per share and, on the same date, sold 7,000 shares of common stock in an open-market transaction at an average price of $9.6295 per share.

Consumer Portfolio Services furnished an investor presentation under Regulation FD that describes its sub-prime auto finance business and recent performance as of March 31, 2026.

The company reports a $4.06 billion managed portfolio, 58 consecutive profitable quarters, and 956 employees. For the quarter ended March 31, 2026, auto contract purchases were $533.2 million and the managed portfolio totaled $3.94 billion. Interest income was $108.7 million, net income was $4.7 million, and diluted EPS was $0.24. Core operating expenses were 4.6% of the average managed portfolio, while annualized net charge-offs were 7.54% of the owned portfolio and total delinquencies and repossessed inventory were 12.35%.

Consumer Portfolio Services, Inc. provides an interest rate supplement dated May 14, 2026 for its renewable unsecured subordinated notes. The supplement lists current annual interest rates by note term (3-month to 4-year) and by portfolio amount tiers, with rates ranging from 4.50% to 8.40%. The notes are offered in specified U.S. states and the supplement amends the prospectus supplement of the same date.

Consumer Portfolio Services, Inc. is offering up to $50,000,000 aggregate principal of renewable unsecured subordinated notes with maturities ranging from 3 months to 10 years

The notes are unsecured and subordinated to substantially all senior indebtedness (including securitization trust debt). Notes will automatically renew at prevailing published rates unless repaid; transfers and secondary trading are highly restricted and repayments or repurchases are limited by contract and quarterly repurchase caps.