Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 24

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 24
---
 to RSUs until the actual issuance of shares of Common Stock.

The Committee may make performance-based Restricted
Stock or RSU Awards that condition release of the restrictions on the attainment of one or more performance goals during the Restricted
Period, in addition to or in lieu of conditioning the release of restrictions on the continued employment or service of the Participant.

After the expiration of the Restricted Period,
(i) with respect to Restricted Stock, the Company will deliver shares to the Participant or the legal representative of the Participant’s
estate and, if the shares were previously issued with a legend, the Company will reissue the shares without the legend, and (ii) with
respect to RSUs, the Company will pay a Participant an amount equal to the Fair Market Value of that number of shares to which such RSU
relates. In the discretion of the Committee, the amount paid with respect to RSUs may be paid in cash, Common Stock, other property or
any combination thereof.

Unless the Committee determines otherwise, the
Award Agreement will provide for the forfeiture of the unvested shares of Common Stock underlying Restricted Stock or RSUs upon the termination
of a Participant’s Active Status. To the extent that the Participant has purchased the shares of Common Stock underlying such Restricted
Stock or RSU and any such shares of Common Stock remain unvested at the time the Participant’s Active Status terminates, the termination
of Active Status will cause an immediate sale of such unvested shares of Common Stock to the Company at the original price per share of
Common Stock paid by the Participant.

| 14 |

Performance Stock Units (“PSUs”) and Performance Stock

The Committee may grant to a Participant the right
to earn PSUs or Performance Stock. A Participant’s right to earn PSUs and Performance Stock will be subject to the attainment of
one or more performance goals over a performance period prescribed by the Committee. The Committee, in its discretion, will establish
the performance goals, specific targets and other details of the performance goal. The Committee will have the authority to make equitable
adjustments to the performance goals as may be determined by the Committee, in its sole discretion. No Participant will have the rights
of a shareholder with respect to PSUs and Performance Stock until the issuance of shares of Common Stock.

Shares or cash will be issued to a Participant
(in whole or in part, as applicable) pursuant to an Award of PSUs or Performance Stock, respectively, only after expiration of the performance
period and attainment of the applicable performance goal(s