Company: CPSS
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001683168-25-001548
Chunk: 593

Company: CONSUMER PORTFOLIO SERVICES, INC.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 2
Chunk 593
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, has been a director
of the Company since July 2001. Mr. Wood was President of Carclo Technical Plastics (“Carclo”), a manufacturer of custom injection
moldings, from September 2000 until his retirement in April 2007. Previously, from 1988 to September 2000, he was the Chief Operating
Officer and co-owner of Carrera Corporation, the predecessor to the business of Carclo. As President of Carclo, Mr. Wood was responsible
for the overall operation of that company and for the quality and integrity of its financial statements. He brings to the Board the knowledge
and perspective useful in evaluating the Company’s financial statements, and broad organizational and management skills.

Executive Officers

The information regarding the Company’s
executive officers set forth in Part I of this report under the caption “Information about Our Executive Officers” is incorporated
herein by reference. 

Code of Ethics

The Company has adopted a Code of Ethics for Senior
Financial Officers, which applies to the Company’s chief executive officer, chief financial officer, controller and others. A copy of
the Code of Ethics may be obtained at no charge by written request to the Corporate Secretary at the Company’s principal executive offices.

Audit and Other Committees

The Board of Directors (the “Board”)
has established an Audit Committee, a Compensation Committee, and a Nominating Committee. Each of these three committees operates under
a written charter, adopted by the Board of Directors. The charters are available on the Company’s website, https://ir.consumerportfolio.com/corporate-governance.
The Board of Directors has concluded that each member of these three committees (and every director other than Mr. Bradley, the Company’s
chief executive officer), is independent in accordance with the director independence standards prescribed by Nasdaq, and has determined
that none of them have a material relationship with the Company that would impair their independence from management or otherwise compromise
the ability to act as an independent director.

 53 

The members of the Audit Committee are Mr. Rayhill
(chairman), Mr. Grasso, Mr. Washer, and Mr. Wood. The Board has determined that each Audit Committee member is independent as defined
under Nasdaq Listing Rules and Rule 10A-3(b)(1) of the Exchange Act.

The Audit Committee is empowered by the Board
of Directors to review the financial books and records of the Company in consultation with the Company’s accounting and auditing staff
and its