[Form 4] Consumer Portfolio Services Insider Trading Activity

Rhea-AI Filing Summary

Consumer Portfolio Services insider Susan Ryan received a stock option award for 60,000 shares with an exercise price of $8.19 per share, granted on 09/09/2025. The option vests in four equal annual installments beginning 09/09/2026 and expires on 09/09/2032. The filing shows the options were issued as compensation for services and are directly owned by the reporting person.

The Form 4 was signed 09/11/2025 and confirms no other transactions or derivative holdings were reported. The grant increases the reporting persons potential equity stake if exercised, aligning compensation with company performance, while diluting existing shareholders only if and when exercised.

Positive

• Alignment of interests: Options vest over four years, encouraging long-term retention and performance.
• Standard terms: Exercise price and expiration are explicit, providing clear incentive structure.

Negative

• Potential dilution: Exercise of 60,000 options would increase outstanding shares if exercised, diluting current holders.

Insights

Corporate Governance Expert

TL;DR: Routine executive option grant tying compensation to long-term performance, standard vesting schedule and exercise terms.

The 60,000-option award at $8.19 with a seven-year post-grant expiration and four-year annual vesting is consistent with typical executive equity compensation. The filing explicitly states options were issued for services and are directly owned, which is standard disclosure practice. From a governance perspective this appears to be a straightforward retention and incentive mechanism rather than an extraordinary issuance.

Compensation Analyst

TL;DR: Grant size and terms appear modest and aligned with multi-year retention incentives, limited near-term dilution.

The exercise price of $8.19 establishes the threshold for economic gain. Vesting begins one year after grant and completes over four years, which incentivizes continued service. The expiration in 2032 gives a long runway for potential upside. No cash or sales transactions accompany the grant in this Form 4, indicating this is a new issuance rather than a disposition or sale.

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

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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^*

Ryan Susan

(Last) (First) (Middle)

3800 HOWARD HUGHES PRKWY

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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr. Vice President

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

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

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)	$8.19	09/09/2025		A		60,000		(1)	09/09/2032	Common Stock, No Par Value	60,000	(2)	60,000	D

Explanation of Responses:

1. Becomes exercisable in four equal installments on 9/9/2026, 9/9/2027, 9/9/2028, and 9/9/2029.

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

	/s/ Susan Ryan	09/11/2025
	** 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 did Susan Ryan report on the CPSS Form 4?

The Form 4 reports a grant of 60,000 stock options on 09/09/2025 with an exercise price of $8.19 per share.

When do the options become exercisable and when do they expire?

The options vest in four equal installments on 09/09/2026, 09/09/2027, 09/09/2028, and 09/09/2029 and expire on 09/09/2032.

Why were the options issued according to the filing?

The filing states the options were issued in consideration of the named person's services to the issuer.

Is the reported ownership direct or indirect?

The Form 4 indicates the ownership form for the 60,000 underlying shares is Direct (D).

When was the Form 4 signed?

The Form 4 was signed by Susan Ryan on 09/11/2025.