Teri L. Robinson
CONSUMER PORTFOLIO SERVICESAbout Teri L. Robinson
Executive Vice President of Sales & Originations at Consumer Portfolio Services (CPSS). Age 62; joined CPSS in June 1991 and has held progressively senior roles in originations and sales culminating in Executive Vice President since December 2022 . Background includes an administrative position at Greco & Associates prior to CPSS . Company performance measures used for executive pay linkage emphasize Diluted EPS, Revenue, and Net Interest Margin ; five-year “Pay Versus Performance” disclosures show Diluted EPS of $0.90 (2020), $1.84 (2021), $3.23 (2022), $1.80 (2023), and $0.79 (2024), alongside Net Income of $21.677M, $47.524M, $85.983M, $45.343M, and $19.203M, respectively .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| CPSS | Executive Vice President – Sales & Originations | Dec 2022–present | Senior leadership of sales and loan originations |
| CPSS | Senior Vice President – Sales & Originations | Jun 2020–Dec 2022 | Management of sales/originations |
| CPSS | Senior Vice President – Originations | Apr 2007–Jun 2020 | Oversight of originations |
| CPSS | Vice President – Originations | Aug 1998–Apr 2007 | Originations leadership |
| CPSS | Operations Specialist | Jun 1991–Aug 1998 | Core operations |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Greco & Associates | Administrative position | Not disclosed | Pre-CPSS administrative experience |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | $368,000 | $386,000 | $386,000 |
| All Other Compensation ($) | $351 | $342 | $2,342 |
Notes:
- 2024 “All Other Compensation” reflects standard items (group life premiums $342; 401(k) employer match $2,000); other perquisites listed in footnotes applied to other NEOs, not specifically to Robinson .
Performance Compensation
Annual Cash Incentive Outcomes
| Metric | Weighting | Target | Actual | Payout ($) | Vesting/Timing |
|---|---|---|---|---|---|
| Skills and performance | 35% | Max award = 140% of base (EVP) | Included in overall 111.07% of base | Part of $428,717 | Paid after year-end review |
| One individual objective | 14% | Max 140% of base | Included in overall 111.07% | Part of $428,717 | Annual |
| Department evaluation (subjective) | 42% | Max 140% of base | Included in overall 111.07% | Part of $428,717 | Annual |
| Company performance | 28% | Max 140% of base | Included in overall 111.07% | Part of $428,717 | Annual |
| CEO discretionary allocation | 21% | Max 140% of base | Included in overall 111.07% | Part of $428,717 | Annual |
2024 plan parameters and result:
- Base salary: $386,000
- Plan “Target” and “Maximum” listed: $540,400 (140% of base)
- Creditable percentage: 111.07% of base
- Bonus paid: $428,717
Multi-year cash incentive and option award totals:
| Component | 2022 | 2023 | 2024 |
|---|---|---|---|
| Non-Equity Incentive Plan Compensation ($) | $401,000 | $413,406 | $428,717 |
| Option Awards ($, ASC 718 fair value accrued) | $298,800 | – (no grant) | – (no grant) |
| Total Compensation ($) | $1,068,151 | $799,748 | $817,059 |
Notes:
- No equity awards granted to NEOs in 2024; long-term incentives historically via stock options, not RSUs/PSUs .
- 2022 option awards valued using Black-Scholes; weighted average fair value per option of $4.98 for NEO grants on June 24, 2022 .
Equity Ownership & Alignment
Beneficial Ownership Summary (Record Date: Oct 23, 2025)
| As of | Shares Beneficially Owned | Percent of Class | Shares acquirable within 60 days (options) | Pledged? |
|---|---|---|---|---|
| Oct 23, 2025 | 743,445 | 3.3% | 245,000 | No specific pledge disclosed for Robinson; company permits pledging; an executive has 1,818 shares pledged; CEO has 1,685,878 shares pledged |
Outstanding Equity Awards (as of Dec 31, 2024)
| Exercise Price ($) | Expiration | Exercisable | Unexercisable | Vesting schedule notes |
|---|---|---|---|---|
| 3.48 | 5/9/2025 | 60,000 | 0 | Original grants vest 25% annually |
| 3.53 | 8/8/2026 | 60,000 | 0 | Original grants vest 25% annually |
| 2.47 | 6/1/2027 | 80,000 | 0 | Original grants vest 25% annually |
| 4.95 | 8/3/2028 | 45,000 | 15,000 | Unexercisable portion becomes exercisable on Aug 3, 2025 |
| 10.25 | 6/24/2029 | 30,000 | 30,000 | Unexercisable portion becomes exercisable 50% on Jun 24, 2025 and 2026 |
Related exercise activity:
- 2024 option exercises: 60,000 shares acquired; value realized $255,000 .
Change-of-control (CoC) economics:
- Potential value upon acceleration of unvested stock options (value at $10.86/share on 12/31/2024): $106,950 .
Ownership policies:
- No mandatory stock ownership guidelines for senior management; Board elected not to adopt minimum ownership goals .
- Hedging prohibited for executives; pledging permitted (Board views incentives as substantially the same with or without pledge) .
Employment Terms
- At-will employment; no individual employment contract; no severance arrangements triggered by termination absent a change of control .
- Post-termination treatment: unvested stock options terminate; vested options expire after 3 months (12 months for disability, retirement, or death) .
- CoC acceleration: mandatory or discretionary acceleration depending on transaction type; mandatory upon certain asset sales, qualifying mergers, specific board changes, or acquisition of >25% voting securities, subject to “Qualifying Termination” provisions and award equivalency by surviving entity .
- No company-sponsored defined benefit pension, supplemental retirement, or deferred compensation programs; executives participate in standard 401(k) on same terms as employees .
Related Party Transactions
- Subordinated notes purchased from CPSS on public terms: largest principal outstanding in 2024 was $459,351; principal outstanding as of Oct 23, 2025 was $122,397; principal paid during 2024 totaled $496,663 (reflects renewals of matured notes); interest paid in 2024 was $23,125; interest rates on her notes range from 5.40% to 8.90% .
- Audit Committee policy permits executive purchases of subordinated notes on public terms; such transactions are generally pre-approved and consistent with independence standards .
Performance & Track Record (Company-level indicators informing incentive design)
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Net Income ($USD) | $21,677,000 | $47,524,000 | $85,983,000 | $45,343,000 | $19,203,000 |
| Diluted EPS ($) | $0.90 | $1.84 | $3.23 | $1.80 | $0.79 |
| Total Shareholder Return (Index, $100 initial) | 125.82 | 351.63 | 262.61 | 278.04 | 322.26 |
Key performance measures used to link compensation actually paid (CAP) to outcomes: Diluted EPS, Revenue, Net Interest Margin .
Compensation Committee & Say‑on‑Pay
- 2024 say‑on‑pay approval: 92% of voted shares approved NEO compensation .
- Compensation Committee: Daniel S. Wood (chair), William W. Grounds, William B. Roberts; all independent; generally has not retained external consultants to date .
- Equity incentives historically via stock options; no options granted to NEOs in 2024; Committee conducts informal compensation surveys rather than maintaining a formal benchmarking peer group; TSR peer group for PVP disclosure is Nasdaq OMX Financial Services Index .
Investment Implications
- Alignment: Robinson holds 3.3% of shares outstanding, with 245,000 options exercisable within 60 days of the 2025 Record Date—meaningful “skin in the game” without RSU/PSU overhang; hedging is prohibited, pledging allowed, but no pledge is specified for her .
- Near-term selling/vesting pressure: Option expirations in 2025–2027 (strikes $3.48, $3.53, $2.47) and scheduled vesting in 2025–2026 ($4.95, $10.25 grants) could prompt exercises and potential share sales around Aug 3 and Jun 24 windows; she exercised 60,000 options in 2024 (value realized $255,000) .
- Retention/contract risk: No employment contract or severance protections; retention is driven by cash bonus outcomes and option value; CoC accelerates unvested options with a relatively modest value for Robinson ($106,950 at $10.86/share) .
- Pay-for-performance: Annual bonus is multi-factor and discretionary-heavy, with maximum 140% of base for EVPs; company’s PVP ties focus to Diluted EPS/Revenue/NIM, but no equity grants in 2024 softened equity alignment versus RSU/PSU frameworks common elsewhere .