CONSUMER PORTFOLIO SERVICES (CPSS) director nets 18,934 shares in option exercise
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.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 18,934 shares
Net Buy
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 shares (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""
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
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.
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.