Consumer Portfolio Services (CPSS) SVP Ralston Exercises Options

What Happened
Ralston Catrina Marie, Senior Vice President of Consumer Portfolio Services (CPSS), exercised options to purchase 30,000 shares on 2026-08-03. The option exercise price was $3.53 per share (total exercise cost $105,900). As a net (cashless) exercise, 12,459 of the underlying shares were withheld to cover the exercise price and tax liability using the closing price of $9.60 (value withheld $119,606), and Ralston received 17,541 shares. This was an exercise of previously granted options (transaction code M) with tax/withholding reported under code F.

Key Details

• Transaction date: 2026-08-03; Form 4 filed 2026-08-05 (timely).
• Options exercised: 30,000 shares at $3.53 per share (total $105,900).
• Withheld for exercise/taxes: 12,459 shares at $9.60 per share (value $119,606).
• Shares issued to insider: 17,541 common shares (market value at $9.60 ≈ $168,394).
• Footnotes: F1 explains the net exercise/withholding; F2 notes vesting schedule (became exercisable in four installments of 7,500 shares on 8/8/2020–8/8/2023); F3 states the options were issued for services.
• Shares owned after transaction: not specified in this filing.
• Filing timeliness: appears timely (filed within two business days).

Context
This was a net (cashless) exercise of vested options—not an open-market sale—so the insider received new shares after withholding to cover costs and taxes. Withholding shares for exercise and taxes is a routine administrative action and does not by itself indicate a broader buy or sell conviction. The options were fully vested per the noted schedule and were originally issued as compensation for services.