Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 413

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 413
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 for residual interest financing. These debt issuance costs are presented as a direct deduction to the carrying amount of the debt
on our Consolidated Balance Sheets.

We must comply with certain
affirmative and negative covenants related to debt facilities, which require, among other things, that we maintain certain financial ratios
related to liquidity, net worth and capitalization. Further covenants include matters relating to investments, acquisitions, restricted
payments and certain dividend restrictions. See the discussion of financial covenants in Note 1.

The following table summarizes the contractual
and expected maturity amounts of our outstanding subordinated renewable notes as of December 31, 2024:

    Schedule of contractual
and expected maturity amounts of our outstanding subordinated renewable 

    Subordinated 
  
    Contractual maturity 
    renewable 
  
    date 
    notes 

     (In thousands) 
  
    2025 
    $8,444 
  
    2026 
     5,284 
  
    2027 
     6,911 
  
    2028 
     4,648 
  
    2029 
     88 
  
    Thereafter 
     1,114 
  
    Total 
    $26,489 

(7) Shareholders’ Equity

Common Stock

Holders of common stock are
entitled to such dividends as our board of directors, in its discretion, may declare out of funds available, subject to the terms of any
outstanding shares of preferred stock and other restrictions. In the event of liquidation of the Company, holders of common stock are
entitled to receive, pro rata, all of the assets of the Company available for distribution, after payment of any liquidation preference
to the holders of outstanding shares of preferred stock. Holders of the shares of common stock have no conversion or preemptive or other
subscription rights and there are no redemption or sinking fund provisions applicable to the common stock.

     F-24 

CONSUMER PORTFOLIO SERVICES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Stock Purchases

For the year ending December
31, 2024, we purchased 1,469,658
shares of our common stock at an average price of $8.73.
In April 2024 our board of directors authorized the repurchase of an additional $10
million of our common stock. There is approximately $6.3