CONSUMER PORTFOLIO SERVICES (CPSS) president exercises options and gifts stock to trust
Rhea-AI Filing Summary
CONSUMER PORTFOLIO SERVICES, INC. President Michael T. Lavin reported several equity transactions on August 6, 2026. He exercised stock options covering 90,000 shares at $3.53 per share and 45,829 shares at $2.47 per share, receiving the same number of common shares. A portion of the exercised shares, 36,525, was delivered or withheld at $9.57 per share to pay the option exercise price and related tax liability through a net exercise, leaving 24,828 shares from that option. In addition, Lavin made a bona fide gift of 99,304 common shares from his direct holdings, and a corresponding 99,304 shares were acquired indirectly by the MTRB Lavin Living Trust, which held 504,119 shares after the gift.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 99,304 shares
Net Buy
8 txns
Insider
Lavin Michael T.
Role
President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) F3, F2 | 90,000 | -- | -- |
| Exercise | Stock Option (right to buy) F3, F4 | 45,829 | -- | -- |
| Exercise | Common Stock, no par value | 45,829 | $2.47 | $113K |
| Exercise | Common Stock, no par value | 28,647 | $3.53 | $101K |
| Exercise | Common Stock, no par value | 61,353 | $3.53 | $217K |
| Exercise Price or Tax Liability | Common Stock, no par value F1 | 36,525 | $9.57 | $350K |
| Gift | Common Stock, no par value | 99,304 | $0.00 | $0.00 |
| Gift | Common Stock, no par value | 99,304 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (right to buy) — 104,171 shares (Direct);
Common Stock, no par value — 0 shares (Direct);
Common Stock, no par value — 504,119 shares (Indirect, MTRB LAVIN LIVING TRUST)
Footnotes (4)
- F1. Represents a "net exercise" of outstanding stock options. The reporting person received 24,828 shares of common stock on net exercise of option to purchase 61,353 shares of common stock. The reporting person forfeited 36,525 shares of common stock underlying the option in payment of the exercise price and tax liability using the closing stock price on August 6, 2026 of $9.57 per share.
- F2. Became exercisable in 4 equal installments on 8/8/2020, 8/8/2021, 8/8/2022, and 8/8/2023.
- F3. Issued in consideration of the named person's services to the issuer.
- F4. Original grant of 150,000 shares became exercisable in 4 equal installments on 6/1/2021, 6/1/2022, 6/1/2023, and 6/1/2024.
Key Figures
Options exercised at $3.53: 90,000 shares
Options exercised at $2.47: 45,829 shares
Net exercise forfeited shares: 36,525 shares
+4 more
7 metrics
Options exercised at $3.53
90,000 shares
Stock options exercised on August 6, 2026 at $3.53 per share
Options exercised at $2.47
45,829 shares
Stock options exercised on August 6, 2026 at $2.47 per share
Net exercise forfeited shares
36,525 shares
Shares delivered or withheld at $9.57 per share for exercise price and tax liability
Net shares received from one option
24,828 shares
Common shares received on net exercise of option to purchase 61,353 shares
Bona fide gift shares
99,304 shares
Common stock transferred as a bona fide gift on August 6, 2026
Trust holdings after gift
504,119 shares
Common shares indirectly held by MTRB Lavin Living Trust after gift
Closing price used for net exercise
$9.57 per share
Closing stock price on August 6, 2026 used to value forfeited shares
Key Terms
net exercise, bona fide gift, Payment of exercise price or tax liability, MTRB LAVIN LIVING TRUST
4 terms
net exercise financial
"Represents a "net exercise" of outstanding stock options."
A net exercise is a way to convert stock options into shares without paying cash up front: instead of handing over money to buy the optioned shares, the holder receives only the number of shares equal to the option’s value after the company withholds a portion of shares to cover the exercise price and taxes. It matters to investors because it changes how many new shares are issued, affects dilution of existing shareholders, and alters company cash flow compared with a cash exercise.
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
Payment of exercise price or tax liability financial
"transaction_code_description": "Payment of exercise price or tax liability by delivering or"
MTRB LAVIN LIVING TRUST financial
"nature_of_ownership": "MTRB LAVIN LIVING TRUST""
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did CPSS President Michael T. Lavin report in this Form 4?
Michael T. Lavin reported two stock option exercises, a net share delivery to cover exercise price and taxes, and a bona fide gift of common stock involving his living trust.
How many CONSUMER PORTFOLIO SERVICES (CPSS) options did Lavin exercise?
Lavin exercised stock options covering 90,000 shares at $3.53 per share and 45,829 shares at $2.47 per share, receiving an equal number of common shares through derivative exercises.
What is the net exercise detail disclosed for CPSS President Lavin?
A footnote states a net exercise of an option for 61,353 shares, yielding 24,828 shares to Lavin while 36,525 shares were forfeited to cover exercise price and tax liability at $9.57 per share.