Consumer Portfolio Services Director Brian Rayhill Exercises Options

What Happened
Brian Rayhill, a director of Consumer Portfolio Services, exercised options on August 6, 2026. He exercised options to purchase 30,000 shares at an exercise price of $3.53 (total exercise cost $105,900). As a net (cashless) exercise, 11,066 shares were withheld (valued at the closing price $9.57 for $105,902) to cover the exercise/payment, and Rayhill received 18,934 shares of common stock (worth roughly $181,198 at $9.57/share). The options were issued as compensation for services.

Key Details

• Transaction date: 2026-08-06; Form 4 filed: 2026-08-10 (filed within the 2-business‑day window).
• Exercise price: $3.53 per share; market/withholding price used: $9.57 per share.
• Option exercised: 30,000 shares (code M = option exercise).
• Withheld/forfeited to cover exercise/taxes: 11,066 shares (code F = tax/withholding).
• Shares received on net exercise: 18,934 common shares (≈ $181,198 at $9.57).
• Footnotes: F1 explains this was a net exercise with 11,066 shares forfeited to cover the exercise using the closing price; F2 notes the options were issued as consideration for services.
• Shares owned after the transaction: not specified in the provided excerpt of the filing.

Context
This was a net (cashless) option exercise rather than an open‑market purchase or sale; withholding shares to cover exercise/tax obligations is common and does not necessarily signal a change in sentiment. The filing shows the options were granted as compensation (not a separate purchase), and the Form 4 was filed on Aug 10, which meets the usual two-business-day reporting deadline.