Consumer Portfolio Services (CPSS) EVP nets 32,213 shares in option exercise
Rhea-AI Filing Summary
Consumer Portfolio Services executive Chris Terry exercised stock options for 60,000 shares of common stock at $3.53 per share on August 5, 2026 via a net exercise. He received 32,213 shares and forfeited 27,787 shares delivered for payment of the exercise price and tax liability, valued at $9.18 per share.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 32,213 shares
Net Buy
3 txns
Insider
TERRY CHRIS
Role
Exec. Vice President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) F3, F2 | 60,000 | -- | -- |
| Exercise | Common Stock, no par value | 60,000 | $3.53 | $212K |
| Exercise Price or Tax Liability | Common Stock, no par value F1 | 27,787 | $9.18 | $255K |
Holdings After Transaction:
Stock Option (right to buy) — 0 shares (Direct);
Common Stock, no par value — 269,212 shares (Direct)
Footnotes (3)
- F1. Represents a "net exercise" of outstanding stock options. The reporting person received 32,213 shares of common stock on net exercise of option to purchase 60,000 shares of common stock. The reporting person forfeited 27,787 shares of common stock underlying the option in payment of the exercise price and tax liability, using the closing stock price on August 5, 2026 of $9.18 per share.
- F2. Became exercisable in four equal increments 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.
Key Figures
Options exercised: 60,000 shares
Exercise price: $3.53 per share
Shares received net: 32,213 shares
+2 more
5 metrics
Options exercised
60,000 shares
Stock option net exercise on August 5, 2026
Exercise price
$3.53 per share
Conversion or exercise price of the stock option
Shares received net
32,213 shares
Net common shares received after option net exercise and withholding
Shares withheld
27,787 shares
Common shares delivered for payment of exercise price and tax liability
Valuation price for withholding
$9.18 per share
Closing stock price on August 5, 2026 used to value withheld shares
Key Terms
net exercise, Stock Option (right to buy, Payment of exercise price or tax liability
3 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 listed as Stock Option (right to buy)."
Payment of exercise price or tax liability financial
"Payment of exercise price or tax liability by delivering or withholding securities"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did CPSS executive Chris Terry report in this Form 4?
Chris Terry, Exec. Vice President of Consumer Portfolio Services, reported a net exercise of stock options for 60,000 shares of common stock on August 5, 2026. The transaction converted options into shares and delivered some shares to cover the exercise price and related tax liability.
At what prices were Chris Terry's CPSS Form 4 transactions recorded?
The stock options had an exercise price of $3.53 per share. For the withholding, the company used the closing stock price of $9.18 per share on August 5, 2026 to value the 27,787 shares delivered for exercise price and tax payments.
How were taxes and exercise costs handled in Chris Terry's CPSS transaction?
Costs were settled via a net exercise in which 27,787 shares of common stock were forfeited and delivered to the issuer. These shares, valued at $9.18 per share, were applied toward both the option exercise price and the related tax liability for the transaction.
Were Chris Terry's CPSS transactions made under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox was not selected, so these transactions were not affirmed as executed under a Rule 10b5-1 trading plan. They are reported as discretionary transactions without an associated pre-arranged trading plan noted in the disclosure.
What happened to the reported CPSS stock option position after this transaction?
The stock option covering 60,000 shares with a $3.53 exercise price and an August 8, 2026 expiration was fully exercised on August 5, 2026. Following the exercise, the filing shows zero derivative shares remaining for this particular option grant.