[Form 4] CONSUMER PORTFOLIO SERVICES, INC. Insider Trading Activity

Rhea-AI Filing Summary

Louis M. Grasso, a director of Consumer Portfolio Services, Inc. (CPSS), reported transactions dated 09/22/2025. The filing shows 20,000 shares acquired at a price of $2.47 and an additional 5,000 shares held indirectly in an IRA for a total of 25,300 shares beneficially owned after the transaction. The filing also discloses a stock option exercisable at $2.47 covering 20,000 underlying shares, with the option exercisable from 12/01/2020 and expiring 06/01/2027. A footnote states 5,000 shares are held in an individual retirement account and 20,000 shares were issued in consideration of services to the issuer.

Positive

• Insider acquisition disclosed: Director Louis M. Grasso acquired 20,000 shares at $2.47, increasing his reported ownership.
• Clear disclosure of indirect ownership: 5,000 shares are held indirectly in an individual retirement account.
• Option details provided: The filing lists a stock option for 20,000 underlying shares exercisable since 12/01/2020 and expiring 06/01/2027.

Negative

• None.

Insights

Securities Analyst

TL;DR: Director exercised/received 20,000 shares and holds 25,300 shares total; routine insider activity, no additional disclosures provided.

The Form 4 documents an insider transaction where Director Louis M. Grasso acquired 20,000 common shares at $2.47 and reports 5,000 shares indirectly held in an IRA, for 25,300 shares beneficially owned after the transaction. The filing also ties a stock option (exercise price $2.47) to 20,000 underlying shares exercisable since 12/01/2020 and expiring 06/01/2027. One footnote indicates the 20,000 shares were issued as consideration for services. This is a standard Section 16 disclosure of insider acquisition and option holdings; the filing contains no additional financial metrics or forward-looking statements.

Corporate Governance Expert

TL;DR: Disclosure is complete for the reported transactions; transaction code and footnotes clarify form of ownership.

The Form 4 uses transaction code "M" and includes explanatory footnotes: one confirms indirect ownership via an IRA for 5,000 shares, and another states 20,000 shares were issued for services. The form is signed and dated 09/24/2025. From a governance and compliance perspective, the report fulfills Section 16 requirements by identifying the reporting person, relationship to issuer (Director), transaction dates, amounts, prices, and nature of indirect ownership. No amendments or additional schedules are included.

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^*

Grasso Louis M

(Last) (First) (Middle)

3800 HOWARD HUGHES PARKWAY

SUITE 1400

(Street)

LAS VEGAS NV 89169

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2025

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	09/22/2025		M		20,000	A	$2.47	25,300	D
Common Stock, no par value								5,000	I	See Footnote(1)

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)	$2.47	09/22/2025		M			20,000	12/01/2020	06/01/2027	Common Stock, No Par Value	20,000	(2)	10,000	D

Explanation of Responses:

1. Shares held indirectly by an individual retirement account of which the reporting person is the beneficiary.

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

	/s/ Louis M. Grasso	09/24/2025
	** 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.
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.

FAQ

What insider transactions did CPSS director Louis M. Grasso report on Form 4?

The Form 4 reports Grasso acquired 20,000 common shares at $2.47 on 09/22/2025 and holds an additional 5,000 shares indirectly in an IRA.

How many shares does Louis M. Grasso beneficially own after the reported transaction?

The filing shows 25,300 shares beneficially owned following the reported transaction(s).

Were any derivative securities disclosed by the reporting person on this Form 4?

Yes. A stock option with an exercise price of $2.47 covering 20,000 underlying shares is disclosed; it is exercisable from 12/01/2020 and expires 06/01/2027.

What does transaction code 'M' indicate on this Form 4?

The Form 4 lists transaction code M for the 09/22/2025 transactions as reported; the filing shows 20,000 shares acquired at $2.47 under that code.

Did the filing explain the nature of the 5,000 indirectly held shares?

Yes. A footnote states those 5,000 shares are held indirectly in an individual retirement account for which the reporting person is the beneficiary.