CPS director exercises options for 30,000 shares

Q: What did CPSS director Brian Rayhill report in this Form 4?

Brian Rayhill reported exercising stock options for 30,000 shares of Consumer Portfolio Services common stock on August 6, 2026, using a net exercise structure that delivered shares and forfeited some to cover the exercise cost.

Q: How many CPSS shares did Brian Rayhill receive from the option exercise?

From exercising options on 30,000 shares, Brian Rayhill received 18,934 shares of CPSS common stock. The remaining 11,066 shares underlying the option were forfeited to pay the exercise price based on the stock’s closing price.

Q: What prices were involved in Brian Rayhill’s CPSS option exercise?

The options had an exercise price of $3.53 per share. To cover this cost, 11,066 shares were forfeited using the CPSS closing stock price of $9.57 per share on August 6, 2026, as described in the footnote.

Q: Was Brian Rayhill’s CPSS Form 4 transaction under a Rule 10b5-1 plan?

The filing indicates the Rule 10b5-1 checkbox is not marked, so the reported transactions were not affirmed as being made under a Rule 10b5-1 trading plan or similar pre-arranged trading arrangement.

Q: What does “net exercise” mean in Brian Rayhill’s CPSS Form 4?

In this context, “net exercise” means Rayhill exercised options for 30,000 shares but received only 18,934 shares, with 11,066 shares forfeited to pay the option exercise price using the reported market price.

CONSUMER PORTFOLIO SERVICES, INC. director Brian Rayhill exercised stock options for 30,000 shares of common stock on August 6, 2026 at an exercise price of $3.53 per share.

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Form Type

Rhea-AI Filing Summary

CONSUMER PORTFOLIO SERVICES, INC. director Brian Rayhill exercised stock options for 30,000 shares of common stock on August 6, 2026 at an exercise price of $3.53 per share. The transaction was structured as a net exercise: he received 18,934 shares and 11,066 shares were forfeited to pay the exercise price using the $9.57 closing stock price. The filing indicates these transactions were not made under a Rule 10b5-1 trading plan.

Insider Trade Summary

30,000 shares exercised/converted

Exercise 3 txns

Insider Rayhill Brian

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy) ^F2	30,000	--	--
Exercise	Common Stock, no par value	30,000	$3.53	$106K
Exercise Price Payment	Common Stock, no par value ^F1	11,066	$9.57	$106K

Holdings After Transaction: Stock Option (right to buy) — 0 contracts (Direct); Common Stock, no par value — 251,319 shares (Direct)

Footnotes (2)

F1. Represents a "net exercise" of outstanding stock options. The reporting person received 18,934 shares of common stock on net exercise of option to purchase 30,000 shares of common stock. The reporting person forfeited 11,066 shares of common stock underlying the option in payment of the exercise price using the closing stock price on August 6, 2026 of $9.57 per share.
F2. Issued in consideration of the named person's services to the issuer.

Key Figures

Options exercised: 30,000 shares Exercise price: $3.53 per share Shares received (net): 18,934 shares +2 more

5 metrics

Options exercised 30,000 shares Stock options exercised for common stock on August 6, 2026

Exercise price $3.53 per share Exercise price of stock options converted into common stock

Shares received (net) 18,934 shares Shares of common stock received after net exercise of 30,000 options

Shares forfeited for exercise cost 11,066 shares Shares forfeited to pay option exercise price using market value

Reference stock price $9.57 per share Closing stock price on August 6, 2026 used to value forfeited shares

Key Terms

net exercise, Stock Option (right to buy, exercise price, Common Stock, no par value

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.

Stock Option (right to buy financial

"security_title": "Stock Option (right to buy)"

exercise price financial

"in payment of the exercise price using the closing stock price"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Common Stock, no par value financial

"security_title": "Common Stock, no par value""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did CPSS director Brian Rayhill report in this Form 4?

Brian Rayhill reported exercising stock options for 30,000 shares of Consumer Portfolio Services common stock on August 6, 2026, using a net exercise structure that delivered shares and forfeited some to cover the exercise cost.

How many CPSS shares did Brian Rayhill receive from the option exercise?

From exercising options on 30,000 shares, Brian Rayhill received 18,934 shares of CPSS common stock. The remaining 11,066 shares underlying the option were forfeited to pay the exercise price based on the stock’s closing price.

What prices were involved in Brian Rayhill’s CPSS option exercise?

The options had an exercise price of $3.53 per share. To cover this cost, 11,066 shares were forfeited using the CPSS closing stock price of $9.57 per share on August 6, 2026, as described in the footnote.

Was Brian Rayhill’s CPSS Form 4 transaction under a Rule 10b5-1 plan?

The filing indicates the Rule 10b5-1 checkbox is not marked, so the reported transactions were not affirmed as being made under a Rule 10b5-1 trading plan or similar pre-arranged trading arrangement.

What does “net exercise” mean in Brian Rayhill’s CPSS Form 4?

In this context, “net exercise” means Rayhill exercised options for 30,000 shares but received only 18,934 shares, with 11,066 shares forfeited to pay the option exercise price using the reported market price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 08/10/2026 - 03:30 PM EDT

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Rayhill Brian

(Last)

(First)

(Middle)

3800 HOWARD HUGHES PARKWAY

SUITE 1400

(Street)

LAS VEGAS

NEVADA

89169

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/06/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, no par value	08/06/2026		M		30,000	A	$3.53	262,385	D
Common Stock, no par value	08/06/2026		F⁽¹⁾		11,066	D	$9.57	251,319	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$3.53	08/06/2026		M			30,000	02/08/2020	08/08/2026	Common Stock	30,000	⁽²⁾	0	D

Explanation of Responses:

1. Represents a "net exercise" of outstanding stock options. The reporting person received 18,934 shares of common stock on net exercise of option to purchase 30,000 shares of common stock. The reporting person forfeited 11,066 shares of common stock underlying the option in payment of the exercise price using the closing stock price on August 6, 2026 of $9.57 per share.

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

	/s/ Brian Rayhill	08/10/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR