Consumer Portfolio Services (CPSS) EVP Denesh Bharwani Exercises Options

What Happened
Denesh Bharwani, Executive Vice President of Consumer Portfolio Services (CPSS), exercised 60,000 stock options on August 5, 2026 at an exercise price of $3.53 per share, paying $211,800. The same filing also reports a simultaneous disposition of 60,000 derivative shares (disposition price not reported).

Key Details

• Transaction date: August 5, 2026.
• Exercise: 60,000 options exercised at $3.53/share (total cash paid $211,800).
• Disposition: 60,000 derivative shares reported as disposed; price listed as N/A in the filing.
• Shares owned after transaction: Not specified in this Form 4.
• Footnotes: (F1) Options vested in four equal installments on 8/8/2020, 8/8/2021, 8/8/2022 and 8/8/2023. (F2) Options were originally issued for services.
• Timeliness: Report period 2026-08-05; filing dated 2026-08-07 — appears to be filed promptly.

Context
This was an option exercise (transaction code M). The filing’s separate exercise and simultaneous disposition entries suggest shares from the exercise were transferred or otherwise disposed of; the Form 4 does not report a sale price or details (e.g., whether shares were sold to cover costs or withheld for taxes). The notes show the options were service-based and fully vested per the schedule in F1.