Consumer Portfolio Services (CPSS) EVP Terry Chris Exercises Options

What Happened

• Terry Chris, Executive Vice President of Consumer Portfolio Services (CPSS), exercised options to purchase 60,000 shares on August 5, 2026 (option exercise code M). The exercise price was $3.53 per share (total $211,800). As a net (cashless) exercise, 27,787 of the underlying shares were surrendered/withheld to cover the exercise price and tax liability at the closing price of $9.18 per share (value ~$255,085), leaving Chris with 32,213 shares. The net shares received are worth roughly $295,715 at the $9.18 close.

Key Details

• Transaction date: August 5, 2026; Form 4 filed August 7, 2026 (timely filing).
• Option exercise: 60,000 shares @ $3.53 (total exercise cost $211,800).
• Withholding/tax payment: 27,787 shares withheld @ $9.18 (value $255,085).
• Shares received after net exercise: 32,213 shares (approx. $295,715 at $9.18).
• Footnotes: F1 indicates a net (cashless) exercise; F2 shows the options vested in four equal tranches on 8/8/2020–8/8/2023; F3 notes the options were issued for services. Transaction codes: M = option exercise, F = tax/exercise withholding.
• Shares owned after the transaction were not disclosed in the provided filing excerpt.

Context

• This was a cashless/net exercise of previously granted options (not an open‑market buy or sale). Net exercises are common ways insiders fulfill option exercises while using some shares to cover exercise costs and taxes; they reflect acquisition of the net shares rather than an outright cash purchase. No indication of a 10b5‑1 plan, gift, or late filing was reported in the provided data.