Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 965

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 5
Chunk 965
---
 N/A  
     N/A 
  
    Total 
     6,097,440  
    $5.39  
     2,983,830 

Item 13. Certain Relationships and Related
Transactions, and Director Independence

Subordinated Notes. The Company has offered
and sold its subordinated notes in a continuous public offering. Executive officer Teri L. Robinson has purchased such notes directly
from the Company in the offering, in each case on the same terms then offered to the public generally. The largest aggregate amount of
principal outstanding on Ms. Robinson’s notes in 2024 was $459,351. The amount of principal outstanding on Ms. Robinson’s
notes as of March 10, 2025 was $212,801. In 2024, the Company paid $496,663 of principal on Ms. Robinson’s notes, which includes
principal paid more than once due to the renewal of matured notes during the year. In 2024, the Company paid $23,125 of interest at rates
fixed at the time of purchase of each note. The interest rate on Ms. Robinson’s notes ranges from 4.9% to 8.9%.

Executive officer Steve Schween purchased such
subordinated notes from the Company before he became an executive officer. The largest aggregate amount of principal outstanding on Mr.
Schween’s note in 2024 was $665,460. The amount of principal outstanding as of March 10, 2025 was $665,460. In 2024, the Company
paid $148,013 in interest at a rate fixed at the time of purchase of the note. The interest rate on the note is 12.25%.

Employment. Ms. Noel Jackson, the Company’s
Vice President of Servicing, is the sister of Mr. Bradley, the Company’s chief executive officer and chairman of the board. For
fiscal year 2024, Ms. Jackson received annual compensation of a base salary of $181,000 and is also eligible for an award under the Executive
Management Bonus Plan described above. Ms. Jackson’s employment with the Company was authorized by the Board of Directors and her
base salary and Executive Management Bonus Plan award is reviewed and approved by the Compensation Committee on an annual basis.

Other Transactions.. On June 14, 2024,
and as part of the Company’s stock repurchase program, the Company purchased directly from the Company’s chief executive officer,
Charles E