Company: CPSS
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007815
Chunk: 26

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 26
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Common Stock, except in the limited circumstances as provided in the 2025 Equity Plan (such as a stock dividend or stock split). A Participant
may be provided all of the rights of a shareholder in respect of shares of Restricted Stock and certain Other Stock-Based Awards, including
the right to receive dividends and distributions, if any.

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The Committee, in its discretion, may provide
that RSUs, PSUs and Performance Stock the right to earn dividend and distribution equivalents equal to the amount of dividends and distributions,
if any, that are paid on that number of shares of Common Stock with respect to which such Awards are granted (subject to such terms, conditions,
limitations and restrictions as the Committee may establish).

Any dividends and distributions, or dividend and
distribution equivalents, if any, will be subject to the restrictions applicable to the original Award and, if any such dividends and
distributions are paid in cash, such dividends and distributions will be accumulated during the Restricted Period and performance period,
if any (without interest), and (A) paid if and when, and only to the extent that, the applicable Award is earned and/or vested or (B)
forfeited, if and when, and to the extent that, the applicable Award is forfeited prior to earning and/or vesting.

MINIMUM VESTING

Any Awards that settle in shares of Common Stock
may vest no earlier than the first anniversary of the grant date of the Award; provided, that the Committee is permitted to grant Awards
without regard to the foregoing minimum vesting requirement with respect to a maximum of five percent of the shares of Common Stock subject
to the Share Limit or for Substitute Awards acquired in an acquisition. For purposes of Awards to Non-Employee Directors, such Awards
will be deemed to vest no earlier than the first anniversary of the grant date of the Award if such Award vests on the earlier of (A)
the date of the next annual meeting of shareholders (which date is at least 50 weeks after the immediately preceding year’s annual
meeting of shareholders) and (B) the first anniversary of the grant date. The minimum vesting requirement will not limit the Committee’s
discretion to provide for an Award to be Accelerated, or deem an Award to be earned, including in cases of death, disability, Retirement,
termination without cause or a Change of Control.

AMENDMENT OR TERMINATION OF THE PLAN

The 2025 Equity Plan may be abandoned, terminated
or amended at any time by the Board or