Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 721

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 3
Chunk 721
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. Terry qualified as a named executive officer pursuant to Item 402 of Regulation S-K beginning for the year 2024.
  
    (2)
    The amount of the Non-Equity Incentive Plan Compensation
    award for 2024 is expected to be determined by the end of June 2025. Such amount, when finally determined, will be disclosed in a
    filing under Item 5.02(f) of Form 8-K.
  
    (3)
    Represents the dollar value accrued for financial accounting purposes in connection with the grant of such options, computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718 and SFAS 123R. Value was estimated using a Black-Scholes model for 2022. For the options granted on January 24, 2022, (comprising 750,000 options granted to Mr. Bradley),  the weighted average fair value per option was $5.8558, based on assumptions of 4.11 years expected life, expected volatility of 75.26%, and a risk-free rate of 1.43%. For the options granted on June 24, 2022, (comprising all of the other options granted to named executive officers in 2022), the weighted average fair value per option was $4.98, based on assumptions of 4.11 years expected life, expected volatility of 75.15%, and a risk-free rate of 3.13%.  

    (4)
    For 2024, includes premiums paid by the Company for group life insurance and employer matching contributions under the Company’s defined contribution plan. Additionally, the amounts include a (i) cash-out of accrued vacation time of $38,269, $26,423 and $22,269 to Messrs. Bradley, Lavin, and Bharwani and (ii) a car allowance of $16,077 and $20,260 for Messrs. Lavin and Bharwani and (iii) gym membership fees of $2,316 for Mr. Lavin. 

 59 

Grants of Plan-Based Awards in Last Fiscal
Year

In the year ended December 31, 2024, we did not
grant any options, stock awards, or stock appreciation rights to any of our named executive officers.

Our named executive officers are eligible for
awards under our Executive Management Bonus Plan, which are expected to be determined by the end of June 2025. The table