CONSUMER PORTFOLIO SERVICES, INC. 8-K

What Happened Consumer Portfolio Services, Inc. (CPSS) announced on Feb. 18, 2026 that its board appointed Scott W. Carnahan as a director to fill the vacancy left by William B. Roberts’ prior resignation. Mr. Carnahan’s term runs until the Company’s 2026 annual meeting of shareholders (and until a successor is elected or he resigns). He brings over 40 years of accounting, consulting, regulatory compliance and executive leadership experience, including senior roles at FTI Consulting and KPMG where he led the structured finance practice and advised on over $2 trillion in transactions.

Key Details

• Appointment date: effective Feb. 18, 2026; term expires at the 2026 annual meeting.
• Replaced: vacancy created by resignation of director William B. Roberts.
• Committee status: Mr. Carnahan was not named to any standing board committees.
• Related business history: Mr. Carnahan is a senior advisor to FTI Consulting; CPS engaged FTI for consulting services and paid FTI ≈ $127,000 in 2024 and ≈ $173,000 in 2025; the engagement ended in Sept. 2025.
• Compensation: Mr. Carnahan will be paid under the Company’s non-employee director compensation program (no new compensation amounts disclosed).

Why It Matters A board appointment can affect governance and oversight. Investors should note the replacement of a director and the board’s choice of a candidate with significant finance and structured-finance experience. The filing discloses a prior commercial relationship between Mr. Carnahan’s advisor firm (FTI) and the Company, but that engagement ended in September 2025. There are no committee assignments or new compensation terms beyond the standard non-employee director program disclosed in the 8-K.