Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 81

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 81
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 Options first become exercisable by such Participant in any calendar
year (under this Plan and any other plan or agreement of the Company or any Subsidiary) exceeding $100,000 (or such other amount as may
be specified in Section 422 of the Code). To the extent that the aggregate Fair Market Value of shares of Common Stock (determined
at the date such Stock Option was granted) with respect to which Stock Options designated as Incentive Options first become exercisable
by a Participant in any calendar year (under this Plan and any other plan or agreement of the Company or any Subsidiary) exceeds $100,000
(or such other amount as may be specified in Section 422 of the Code), such excess Stock Options shall be treated as Nonqualified
Options.

(b)
Stock Option Exercise Price. The Committee, in its Discretion, shall establish the exercise price per share for which the shares
of Common Stock covered by the Stock Option may be purchased. The exercise price per share of a Stock Option (except for a Substitute
Award or a 409A Award) shall not be less than 100% of the Fair Market Value of a share of Common Stock on the date on which such Stock
Option is granted; provided, however, that with respect to an Incentive Option granted to a Participant who as of the grant date owns
(after applying the attribution rules of Section 424(d) of the Code) more than 10% of the total combined voting stock of the Company
or of any parent or Subsidiary, the exercise price per share shall not be less than 110% of the Fair Market Value of a share of Common
Stock on the date such Stock Option is granted. The exercise price per share shall be subject to adjustment in accordance with the provisions
of Section 5.

(c)
Method of Exercise and Payment of Stock Option Exercise Price. No shares of Common Stock shall be delivered pursuant to any exercise
of a Stock Option until the Participant has paid the exercise price to the Company in full, and an amount equal to any U.S. federal, state
and local income and employment taxes and non-U.S. income and employment taxes, social contributions and any other tax-related items required
to be withheld. Stock options may be exercised by delivery of written or electronic notice of exercise to the Company or its designee
(including a third-party administrator) in accordance with the terms of the Award Agreement accompanied by payment of the exercise price
and such applicable taxes