Consumer Portfolio Services Insider Net-Exercise Yields 2,635 Shares

Rhea-AI Filing Summary

Lisette Reynoso, Sr. Vice President of Consumer Portfolio Services, Inc. (CPSS), executed a net exercise of stock options on 09/16/2025. She exercised an option with a $3.83 strike covering 4,800 shares and, after a net exercise, received 2,635 shares while forfeiting 2,165 shares to cover the exercise cost based on the closing price of $8.49 per share on that date. The filing shows the reporting person holds common stock following the transaction and that the original option grant totaled 20,000 options that vested in four installments from 2019 to 2022. The shares were issued as consideration for services.

Insights

Securities Analyst

TL;DR: Routine insider option exercise resulting in a modest increase in direct holdings; not likely material to valuation.

The Form 4 documents a standard net exercise of options where 4,800 option shares were exercised at a $3.83 strike, yielding 2,635 net shares after surrendering 2,165 shares to cover the exercise cost computed at $8.49 per share. The filing confirms the underlying grant schedule (20,000 options, vested in four equal installments through 2022) and that the transaction relates to issuance for services. There is no disclosure of large share disposals or additional compensatory grants that would materially affect outstanding share count or control.

Corporate Governance Expert

TL;DR: Compensation-related exercise consistent with previously disclosed option grant; governance implications are routine.

The disclosure indicates the exercise arose from a previously granted option award issued for services and vested per the stated schedule. The use of net exercise (forfeiting shares to cover cost) is a common administration choice and does not reflect an open-market sale. No new grants, departures, or related-party transactions are reported that would raise governance concerns.

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

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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^*

Reynoso Lisette

(Last) (First) (Middle)

19500 JAMBOREE RD

(Street)

IRVINE CA 92610

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CONSUMER PORTFOLIO SERVICES, INC. [ CPSS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. Vice President

3. Date of Earliest Transaction (Month/Day/Year)
09/16/2025

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, no par value	09/16/2025		M		4,800	A	$3.83	4,801	D
Common Stock, no par value	09/16/2025		F(1)		2,165	D	$8.49	2,636	D

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 Option (right to buy)	$3.83	09/16/2025		M			4,800	(2)	11/14/2025	Common Stock, No Par Value	4,800	(3)	0	D

Explanation of Responses:

1. Represents a "net exercise" of outstanding stock options. The reporting person received 2,635 shares of common stock on net exercise of option to purchase 4,800 shares of common stock. The reporting person forfeited 2,165 shares of common stock underlying the option in payment of the exercise price, using the closing stock price on September 16, 2025 of $8.49 per share.

2. Original grant of 20,000 options became exercisable in 4 equal installments of 5,000 shares on 11/14/2019, 11/14/2020, 11/14/2021, and 11/14/2022

3. Issued in consideration of the named person's services to the issuer.

	/s/ Lisette Reynoso	09/17/2025
	** 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.
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FAQ

What did Lisette Reynoso report on the CPSS Form 4?

She reported a net exercise of options on 09/16/2025 that resulted in receiving 2,635 shares and forfeiting 2,165 shares.

What was the exercise strike price and the closing price used for the net exercise in the CPSS filing?

The option strike price was $3.83 per share and the closing stock price used was $8.49 per share.

How many option shares were in the original grant referenced in the CPSS Form 4?

The original grant consisted of 20,000 options that vested in four equal installments on 11/14/2019, 11/14/2020, 11/14/2021, and 11/14/2022.

Did the reporting person acquire shares directly or indirectly according to the Form 4?

The filing shows direct ownership outcomes: the reporting person received 2,635 shares via net exercise and the number of derivative securities beneficially owned following the transaction is reported as zero.

When was the Form 4 signed and filed?

The Form 4 is signed by Lisette Reynoso on 09/17/2025.