Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 102

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1
Chunk 102
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our officers hold stock awards; accordingly, no stock awards vested during 2024.

Option Exercises and Stock Vested

    Value realized on exercise (1)  
    Number of shares acquired on exercise 
  
    Mr. Bradley 
    $1,275,000  
     300,000 
  
    Mr. Lavin 
     382,500  
     90,000 
  
    Mr. Bharwani 
     255,000  
     60,000 
  
    Ms. Robinson 
     255,000  
     60,000 
  
    Mr. Terry 
     233,400  
     60,000 

  (1)
  The value realized is the difference between the fair market value of the Company’s common
  stock on the date of exercise (the closing price reported by Nasdaq) and the exercise price of the option.

Executive Management Bonus Plan (Non-equity
Incentive Plan)

The salary and cash bonus of the named
executive officers are determined by the Compensation Committee. The compensation appearing in the Summary Compensation Table above
under the caption "Non-Equity Incentive Plan Compensation" is paid pursuant to an Executive Management Bonus Plan (the
“EMB Plan”). The EMB Plan is administered by the Compensation Committee. Among other things, the Compensation Committee
selects participants in the EMB Plan from among the Company’s executive officers and determines the performance goals, target
amounts and other terms and conditions of awards under the EMB Plan. With respect to officers other than the chief executive
officer, determinations of base salary and of criteria relating to the EMB Plan are based in part on evaluations of such officers
prepared by the Chief Executive Officer, which are furnished to and discussed with the Compensation Committee. 

Pension Plans

The Company’s officers do not participate in any
pension or retirement plan, other than a tax-qualified defined contribution plan (commonly known as a 401(k) plan). 

Potential Payments Upon Termination or Change
of Control

This section provides information regarding payments
and benefits to the named executive officers that would be triggered by termination of the officer’s employment (including resignation,
or voluntary termination; severance, or involuntary termination; and retirement) or a change of control of the Company.

Each of the named executive officers is an at-will
employee and, as such, does not have an employment contract. In addition, if