Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 56

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 56
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 the executive officers, an approximate number of shares each                                                                                                                                                                                                                                                                                                                                                  
 executive officer could be deemed to hold through contributions made to the Company’s Employee 401(k) Plan (the “401(k)                                                                                                                                                                                                                                                                                                                                                         
 Plan”). The 401(k) Plan provides an option for all participating employees to purchase stock in the Company indirectly by                                                                                                                                                                                                                                                                                                                                                       
 buying units in a mutual fund. Each “unit” in the mutual fund represents an interest in Company stock, cash and cash                                                                                                                                                                                                                                                                                                                                                            
 equivalents.                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| (2) | These shares are held directly by certain Black Diamond investment vehicles (“Black Diamond vehicles”). Black Diamond Holdings, LLLP (“Black Diamond”) exercises investment discretion on behalf of investment advisory affiliates that serve as investment advisers to the Black Diamond vehicles. Mr. Deckoff is the Managing Principal of Black Diamond. Mr. Deckoff disclaims beneficial ownership over the shares, except to the extent of his pecuniary interest therein. |
| (3) | Includes a total of 3,762,631 shares for all officers combined that are not outstanding as of the date of this report, but which may be acquired within 60 days after the Record Date upon exercise of options. 1,818 shares are pledged as security by an executive officer.                                                                                                                                                                                                   |

| 36 |

Chief Executive Officer Pay Ratio

The Dodd-Frank Reform and Consumer Protection Act includes a mandate that
public companies disclose the ratio of the compensation of their Chief Executive Officer to their median employee (“CEO Pay Ratio”).
The CEO Pay Ratio for 2024 is 55.5:1. We determined the CEO Pay Ratio by dividing the total 2024 compensation of the Chief Executive Officer
as disclosed in the Summary Compensation Table above by the total 2024 compensation of the median employee, using the same components
of compensation as used in the Summary Compensation Table for the Chief Executive Officer.

We previously reviewed the compensation of all
employees who were employed on December 31, 2023, and identified the median-compensated employee for the year then ended using 2023 W-2
gross wages. This median-compensated employee was used to calculate the CEO Pay Ratio for the 2023 fiscal year. It is no longer appropriate
to use that median-compensated employee for 2024 because their employment terminated with the Company in early 2024. Accordingly, we identified
another employee who was employed on December 31, 2024, and whose compensation is substantially similar to the original