Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 14

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 14
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that such independence is not and was not impaired.

<div align='center'>THE BOARD RECOMMENDS A VOTE “FOR” RATIFICATION OF THE APPOINTMENT OF CROWE.</div>

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<div align='center'>PROPOSAL NO. 3 – NON-BINDING VOTE ON NAMED EXECUTIVE OFFICER COMPENSATION</div>

General

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the
“Dodd-Frank Act”) and Section 14A of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) enable
the shareholders to vote to approve, on an advisory or non-binding basis, the compensation of the Company’s named executive officers
as disclosed in accordance with the SEC’s rules in the “Executive Compensation” section of this proxy statement,
below. This proposal, commonly known as a “say-on-pay” proposal, gives the shareholders the opportunity to express their views
on the Company’s named executive officers’ compensation as a whole. This vote is not intended to address any specific item
of compensation or any specific named executive officer, but rather the overall compensation of all of our named executive officers and
the philosophy, policies and practices described in this proxy statement. The Company’s current policy is to seek such say-on-pay
votes annually, at every regular meeting of shareholders.

The say-on-pay vote is advisory, and therefore not binding on the Company,
the Compensation Committee or the Board. The say-on-pay vote will, however, provide information to the Board and the Compensation Committee
regarding investor sentiment about our executive compensation philosophy, policies and practices, which the Compensation Committee will
be able to consider when determining executive compensation for the remainder of the current fiscal year and beyond. The Board and its
Compensation Committee value the opinions of the shareholders; accordingly, to the extent there is any significant vote against the named
executive officer compensation as disclosed in this proxy statement, the Compensation Committee will consider the shareholders’
concerns and evaluate whether any actions are necessary to address those concerns.

Summary of 2024 Executive Compensation Program

Following is a summary of some of the key points of our 2024 executive
compensation program:

| · | It is simple, comprising generally of base salary, an annual cash bonus pursuant to an incentive plan, and long-term equity incentives in the form of stock options. |

| · | The Compensation Committee controls all portions of the compensation payable to executive