UNITED STATES SECURITIES AND EXCHANGE COMMISSION

WASHINGTON DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) ~~November~~January 1927, ~~2025~~2026

	CONSUMER PORTFOLIO SERVICES, INC.
	(Exact Name of Registrant as Specified in Charter)

california

1-11416

33-0459135

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

	3800 Howard Hughes Pkwy, Suite 1400, Las Vegas, NV 89169
	(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code (949) 753-6800

	Not Applicable
	(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, no par value	CPSS	The Nasdaq Stock Market LLC (Global Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 51.0201. ~~Departure~~Entry ofinto ~~Directors~~a orMaterial ~~Certain~~Definitive ~~Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers~~Agreement.

AtThe ~~the~~information ~~annual~~contained ~~meeting of~~in ~~shareholders~~Item ~~of Consumer Portfolio Services, Inc~~2.03 ~~(the~~of ~~“Company”)~~this onreport ~~November~~is ~~19,~~hereby ~~2025 (the “Annual Meeting”),~~incorporated ~~the~~by ~~Company’s~~reference ~~shareholders~~into ~~approved~~this ~~the~~Item ~~Consumer Portfolio Services, Inc~~1. ~~2025 Equity Incentive Plan (the “2025 Plan”)~~01. The ~~2025~~registrant ~~Plan~~disclaims ~~provides for the award to employees (including officers and directors who are also employees), non-employee directors, consultants and advisors to the Company or~~ any ofimplication its subsidiaries of stock options (including nonqualified stock options and incentive stock options), stock appreciation rights, restricted stock, restricted stock units, performance stock units, performance units, and other awards based on or related to shares of common stock up to an aggregate of (a) 4,501,330 shares of the Company’s common stock, plus (b) the number of shares of common stock that, ~~as of~~ the ~~effective~~agreements ~~date~~relating ~~of the 2025 Plan, are subject~~ to ~~awards granted under~~ the ~~CPS~~transactions ~~2006 Long-Term~~described ~~Equity~~in ~~Incentive~~this ~~Plan~~report ~~(the “2006 Plan”) and that, on or after the effective date of the 2025 Plan,~~ are ~~forfeited, surrendered, terminated (~~other than byagreements ~~exercise),~~entered ~~cancelled,~~into ~~lapsed~~in ~~or reacquired by~~ the ~~Company~~ordinary ~~prior~~course ~~to vesting, without the delivery~~ of ~~any shares of common stock, and otherwise comply with the recycling provisions of the 2006 Plan and 2025 Plan. The foregoing summary is qualified in~~ its ~~entirety by reference to the 2025 Plan, which is filed as Exhibit 10~~business.~~1 hereto and incorporated herein by reference.~~

~~The~~Securitization ~~Compensation Committee~~ of ~~our board of directors approved a new Form of Stock Option Award Agreement for grants under the 2025 Plan, which is attached hereto as Exhibit 10.2 and is incorporated herein by reference.~~Receivables

~~Item~~On 5January 27, 2026, the registrant Consumer Portfolio Services, Inc.07 ("CPS") ~~Submission~~and its wholly owned subsidiary CPS Receivables Five LLC ("Subsidiary") entered into a series of ~~Matters~~agreements under which Subsidiary purchased from CPS, and sold to aCPS ~~Vote~~Auto Receivables Trust 2026-A (the "Trust"), approximately $352.66 million of ~~Security~~subprime ~~Holders~~automotive receivables (the "Receivables").

AtItem ~~the~~2.03. ~~Annual~~Creation ~~Meeting, five proposals were placed before our shareholders: proposal one, to elect directors; proposal two, to ratify the appointment~~ of ~~Crowe~~a ~~LLP~~Direct asFinancial ~~our~~Obligation ~~independent~~or ~~auditors for the fiscal year ending December 31, 2025; proposal three, to adopt~~ an ~~advisory~~Obligation ~~resolution~~under ~~approving our named executive officer compensation; proposal four, to adopt the Company’s 2025 Plan; and proposal five, to adopt~~ an ~~advisory~~Off-Balance ~~resolution~~Sheet onArrangement ~~the frequency~~ of ~~future~~a ~~advisory votes on named executive officer compensation~~Registrant.

~~Nine~~Securitization ~~individuals were nominated for election to our board~~ of ~~directors, constituting the entire board. Such individuals received votes as follows, and each of the following nine was elected:~~Receivables

	Votes for	Votes withheld	Broker Non-Votes
Charles E. Bradley, Jr.	13,892,405	6,050,759	1,146,936
Stephen H. Deckoff	18,491,821	1,451,343	1,146,936
Louis M. Grasso	14,059,399	5,883,765	1,146,936
William W. Grounds	12,159,965	7,783,199	1,146,936
Brian J. Rayhill	18,533,396	1,409,768	1,146,936
William B. Roberts	9,346,158	10,597,006	1,146,936
James E. Walker III	18,491,821	1,451,343	1,146,936
Gregory S. Washer	18,616,810	1,326,354	1,146,936
Daniel S. Wood	12,553,477	7,389,687	1,146,936

CPS, Subsidiary, the Trust and others on January 27, 2026, entered into a series of agreements that, among other things, created long-term obligations that are material to CPS, Subsidiary and the Trust. Under these agreements (i) CPS sold the Receivables to Subsidiary (ii) Subsidiary sold the Receivables to the Trust (iii) the Trust deposited the Receivables with Computershare Trust Company, N.A. ("CTCNA"), as trustee of a grantor trust, receiving in return a certificate of beneficial interest (“CBI”) representing beneficial ownership of the Receivables, (iv) the Trust pledged the CBI to CTCNA as indenture trustee for benefit of the holders of the Notes (as defined below), (v) the Trust issued and sold $345.61 million of asset-backed Notes, in five classes (such Notes collectively, the "Notes"), and (vi) a cash deposit (the "Reserve Account") in the amount of 1.00% of the aggregate balance of the Receivables was pledged for the benefit of the holders of the Notes.

2Security for the repayment of the Notes consists of the Receivables and the rights to payments relating to the Receivables. The Receivables were purchased by CPS from automobile dealers, and CPS will act as the servicer of the Receivables. Credit enhancement for the Notes consists of over-collateralization and the Reserve Account. CTCNA will act as collateral agent and trustee on behalf of the secured parties, and is the backup servicer.

~~Proposals~~The ~~two~~Notes are obligations only of the Trust, ~~three~~and not of Subsidiary nor of CPS. Nevertheless, the Notes are properly treated as long-term debt obligations of CPS. The sale and ~~four~~issuance ~~were~~of ~~approved~~the Notes, ontreated as secured financings for accounting and tax purposes, are treated as sales for all other purposes, including legal and bankruptcy purposes. None of the ~~following~~assets ~~votes:~~of the Trust or Subsidiary are available to pay other creditors of CPS or its affiliates.

	Votes for	Votes against	Abstentions	Broker Non-Votes
Proposal Two	20,852,660	235,962	1,477	–
Proposal Three	12,309,473	7,573,654	60,034	1,146,939
Proposal Four	11,438,832	8,461,888	42,442	1,146,938

The Trust holds a fixed pool of amortizing assets. The Trust is obligated to pay principal and interest on the Notes on a monthly basis. Interest is payable at fixed rates on the outstanding principal balance of each of the five classes of the Notes, and principal is payable by reference to the aggregate principal balance of the Receivables (adjusted for chargeoffs and prepayments, among other things) and agreed required over-collateralization. The following table sets forth the interest rates and initial principal amounts of the five classes of Notes:

Proposal five offered multiple choices, that future advisory votes on named executive officer compensation be held every year, every two years, or every three years. The votes cast were as follows:

Note Class	Interest Rate	Amount
Class A	4.19%	$ 155,520,000
Class B	4.43%	$ 47,790,000
Class C	4.63%	$ 58,360,000
Class D	4.98%	$ 38,440,000
Class E	6.66%	$ 45,500,000

		One Year		Two Years		Three Years		Abstentions		Broker Non-Votes
Proposal Five		18,015,514		1,130		1,884,103		42,417		1,146,936

The ~~resolution~~2026-A astransaction ~~adopted~~has ~~advised~~initial ~~holding~~credit ~~future~~enhancement ~~advisory~~consisting ~~votes on~~of ~~executive~~a ~~compensation~~cash ~~every~~deposit ~~year.~~equal Into ~~light~~1.00% of ~~such~~the ~~vote,~~original ~~our~~Receivable ~~board~~pool ofbalance ~~directors~~and ~~decided~~overcollateralization ~~that~~of ~~the~~2.00%. ~~Company~~The ~~will~~final ~~continue~~enhancement ~~including~~level requires aaccelerated ~~shareholder advisory~~payment ~~vote~~of principal on the ~~compensation~~Notes to reach overcollateralization of ~~its~~the ~~named~~lesser ~~executive~~of ~~officers~~7.30% inof ~~its~~the ~~proxy~~original ~~materials~~Receivables pool ~~every~~balance, ~~year~~or ~~until~~18.00% of the ~~next~~then ~~required~~outstanding ~~vote~~pool onbalance, ~~the frequency~~but ofin ~~shareholder~~no ~~votes~~event onless ~~the~~than ~~compensation~~1.50% of ~~named~~the ~~executive~~original ~~officers~~receivable pool balance.

~~Item~~If 9an event of default were to occur under the agreements, the Trustee would have the right to accelerate the maturity of the Notes, in which event the cash proceeds of the Receivables that otherwise would be released to Subsidiary would instead be directed entirely toward repayment of the Notes.01 ~~Financial~~Events ~~Statements~~of ~~and~~default ~~Exhibits~~include such events as failure to make required payments on the Notes, breaches of warranties, representations or covenants under any of the agreements or specified bankruptcy-related events.

~~(d)~~At ~~Exhibits~~such time as the aggregate outstanding principal balance of the Receivables is less than 10% of the initial aggregate balance of $352.66 million, CPS will have the option to purchase the Trust estate at fair market value, provided that such purchase price is sufficient to cause the Notes to be redeemed and paid in full, and to cause other obligations of the Trust to be met.

~~Two~~Item ~~exhibits~~9.01. ~~are~~Financial ~~included~~Statements ~~with~~and ~~this report:~~Exhibits.

10.1*		Consumer Portfolio Services, Inc. 2025 Equity Incentive Plan
10.2*		Form of Stock Option Award Agreement under the Consumer Portfolio Services, Inc. 2025 Equity Incentive Plan
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

One exhibit is included with this report:

* Filed herewith. Indicates management contract or compensatory plan or arrangement.

99.1	News release re securitization transaction.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CONSUMER PORTFOLIO SERVICES, INC.
Dated: November 25, 2025	By: /s/ DENESH BHARWANI
Dated: January 27, 2026	By: /s/ Denesh Bharwani
	Denesh Bharwani Executive Vice President Signing on behalf of the registrant
	Denesh Bharwani Executive Vice President and Chief Financial Officer Signing on behalf of the registrant

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