Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 49

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 49
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four rated securitization transactions (25% each, 100% total), (III) to increase the Company’s annual originations of receivables
to each of four targets (up to 100% in the aggregate, creditable pro rata for reaching target amounts of $1.3 billion, $1.4 billion, $1.5
billion, and $1.6 billion), (IV) to decrease core operating expenses by up to 1% (up to 100%, creditable pro rata for the portion of the
1% achieved), (V) to raise $50 million in a new residual financing deal (50%) (VI) to obtain up to a $600 million forward flow contract
purchase agreement (100%), (VII) and to cause the Company’s common stock to trade in excess of each of four targets (100% in the
aggregate, creditable in increments of 25% for reaching prices of $10.00, $11.00, $12.00, and $13.00 per share).

The total of the seven weightings is 650%; accordingly, the target and
maximum possible value to that officer of the award was 650% of his base salary for 2024.

The Compensation Committee evaluated the Chief Executive Officer’s
performance in comparison to the goals. The Compensation Committee determined that the budget objective was met in each of the four quarters
of 2024, and credited the Chief Executive Officer with the maximum value, or 100%.

The Compensation Committee noted that the Company had executed four rated
securitizations during the year representing the full creditable performance of 100%. It determined that our originations volume exceeded
$1.6 billion for the year, for which the Compensation Committee awarded full credit of 100%.

The Compensation Committee noted that the Company decreased core operating
expenses by 0.1% representing a creditable performance of 10% for that objective.

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The Compensation Committee determined that the Company successfully closed
a new residual financing deal in the amount of $50 million and awarded the full credit available of 50%. The Compensation Committee found
that a forward flow contract purchase agreement was not obtained and thus no credit was earned for that objective. The Compensation Committee
noted that the stock price objective was obtained as to one of the four targets and found credit in the amount of 25% was earned.

The aggregate valuation of all creditable performance for the Chief Executive