CPSS SVP Jackson Noel Exercises Options, Sells 7,500 Shares

What Happened

• Jackson Noel, Senior Vice President of Consumer Portfolio Services, exercised 7,500 stock options on 2026-09-01 at an exercise price of $2.47 (cost $18,525) and sold those 7,500 shares in an open-market transaction at $9.31 per share for total proceeds of $69,825. The filing shows the exercise and the immediate sale (cashless exercise/sale).

Key Details

• Transaction date: 2026-09-01.
• Exercise: 7,500 shares at $2.47 each (total exercise cost $18,525).
• Sale: 7,500 shares at $9.31 each (gross proceeds $69,825).
• Net difference (gross proceeds minus exercise cost): approximately $51,300 (pre-tax).
• Footnotes: F1 confirms the shares were exercised and then sold; F2 notes the 30,000-option grant vested in four 7,500-share installments (one installment vested earlier); F3 indicates the options were issued as compensation.
• Shares owned after the transaction: not specified in the provided filing.
• Filing timeliness: Reported on 2026-09-03 for a 2026-09-01 transaction — appears timely (Form 4 is generally due within 2 business days).

Context

• This was an exercise of previously granted options with an immediate open-market sale of the underlying shares (a common cashless exercise by executives to realize gains or cover taxes).
• Such transactions are routine for option vesting and do not by themselves indicate the insider’s ongoing view of the company’s stock; they reflect exercising compensation granted earlier.