CPSS SVP Jackson Noel Sells Shares via Option Exercise

What Happened

Jackson Noel, Senior Vice President of Consumer Portfolio Services (CPSS), exercised 7,000 stock options at $3.53 per share (total exercise cost $24,710) on 2026-06-16 and immediately sold the 7,000 underlying shares in an open-market transaction for $9.63 per share, generating sale proceeds of $67,407 (gross gain before taxes/fees ≈ $42,697). The filing shows the option exercise and the subsequent sale occurred the same day.

Key Details

• Transaction date: 2026-06-16; Form 4 filed 2026-06-17 (timely).
• Option exercise (code M): 7,000 shares at $3.53 each — total exercise cost $24,710.
• Open-market sale (code S): 7,000 shares at $9.63 each — total proceeds $67,407.
• Additional derivative entry lists the conversion/disposition of the exercised derivative (footnote F1) — this reflects the mechanics of exercising and selling underlying shares.
• Footnotes:
  • F1: Exercise of a stock option with subsequent sale of the underlying shares.
  • F2: Original grant of 30,000 options became exercisable in four installments of 7,500 on 08/08/2020–2023.
  • F3: Options issued for services to the issuer.
• Shares owned after the transactions: not specified in the provided details.

Context

• This was a cashless-style outcome: Mr. Noel exercised options and sold the resulting shares the same day. Such patterns are common for option holders looking to realize gains and/or cover exercise taxes/costs; they are routine and not a direct signal of company outlook.
• Transaction codes: M = option exercise/conversion; S = sale of shares.