Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 1071

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 6
Chunk 1071
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    $3.53  
     8/8/2026 

     60,000  
     –  
    $2.47  
     6/1/2027 

     45,000  
     15,000(1) 
    $4.95  
     8/3/2028 

     30,000  
     30,000(3) 
    $10.25  
     6/24/2029 

  (1)
  Becomes exercisable on August 3, 2025.

  (2)
  Becomes exercisable as to increments of one-half of the unexercisable portion on January 24, 2025 and 2026.

  (3)
  Becomes exercisable as to increments of one-half of the unexercisable portion on June 24, 2025 and 2026.

 61 

Option Exercises in Last Fiscal Year

All of the five named executive officers exercised
stock options during 2024. The table below shows the realized value and the number of options exercised for those individuals. None of
our officers hold stock awards; accordingly, no stock awards vested during 2024.

Option Exercises and Stock Vested

    Value realized on exercise (1)  
    Number of shares acquired on exercise 
  
    Mr. Bradley 
    $1,275,000  
     300,000 
  
    Mr. Lavin 
     382,500  
     90,000 
  
    Mr. Bharwani 
     255,000  
     60,000 
  
    Ms. Robinson 
     255,000  
     60,000 
  
    Mr. Terry 
     233,400  
     60,000 

  (1)
  The value realized is the difference between the fair market value of the Company’s common
  stock on the date of exercise (the closing price reported by Nasdaq) and the exercise price of the option.

Executive Management Bonus Plan (Non-equity
Incentive Plan)

The salary and cash bonus of the named
executive officers are determined by the Compensation Committee. The compensation appearing in the Summary Compensation Table above
under the caption "Non-Equity Incentive Plan Compensation" is paid pursuant to an Executive Management Bonus Plan (the
“EMB Plan”).