Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1788

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 1788
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)
    Represents the dollar value accrued for financial accounting purposes in connection with the grant of such options, computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718 and SFAS 123R. Value was estimated using a Black-Scholes model for 2022. For the options granted on January 24, 2022, (comprising 750,000 options granted to Mr. Bradley),  the weighted average fair value per option was $5.8558, based on assumptions of 4.11 years expected life, expected volatility of 75.26%, and a risk-free rate of 1.43%. For the options granted on June 24, 2022, (comprising all of the other options granted to named executive officers in 2022), the weighted average fair value per option was $4.98, based on assumptions of 4.11 years expected life, expected volatility of 75.15%, and a risk-free rate of 3.13%.  

    (4)
    For 2024, includes premiums paid by the Company for group life insurance and employer matching contributions under the Company’s defined contribution plan. Additionally, the amounts include a (i) cash-out of accrued vacation time of $38,269, $26,423 and $22,269 to Messrs. Bradley, Lavin, and Bharwani and (ii) a car allowance of $16,077 and $20,260 for Messrs. Lavin and Bharwani and (iii) gym membership fees of $2,316 for Mr. Lavin. 

 59 

Grants of Plan-Based Awards in Last Fiscal
Year

In the year ended December 31, 2024, we did not
grant any options, stock awards, or stock appreciation rights to any of our named executive officers.

Our named executive officers are eligible for
awards under our Executive Management Bonus Plan, which are expected to be determined by the end of June 2025. The table below provides
information regarding the awards for which the named executive officers are eligible for the year 2024.

Grants of Plan-Based Awards

    Estimated future payouts under non-equity incentive plan awards 
  
    Name 
    Threshold  
    Target  
    Maximum 
  
    Mr. Bradley 
    $–  
    $5,970,000  
    $5,970,000 
  
    Mr. Lavin 
     –