SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Levine Leichtman Capital Partners IV, L.P.

(Last) (First) (Middle)
335 N. MAPLE DRIVE, SUITE 240

(Street)
BEVERLY HILLS CA 90210

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CONSUMER PORTFOLIO SERVICES INC [ CPSS ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/15/2011
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/15/2011 C 1,870,000 A (1) 3,975,000 D (2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Series B Convertible Preferred Stock $0.852 06/15/2011 C 1,870 (3) (4) Common Stock 1,870,000 (1) 0 D (2)
1. Name and Address of Reporting Person*
Levine Leichtman Capital Partners IV, L.P.

(Last) (First) (Middle)
335 N. MAPLE DRIVE, SUITE 240

(Street)
BEVERLY HILLS CA 90210

(City) (State) (Zip)
1. Name and Address of Reporting Person*
LLCP Partners IV GP, LLC

(Last) (First) (Middle)
335 N. MAPLE DRIVE, SUITE 240

(Street)
BEVERLY HILLS CA 90210

(City) (State) (Zip)
1. Name and Address of Reporting Person*
LEVINE LEICHTMAN CAPITAL PARTNERS INC

(Last) (First) (Middle)
335 N. MAPLE DRIVE, SUITE 240

(Street)
BEVERLY HILLS CA 90210

(City) (State) (Zip)
1. Name and Address of Reporting Person*
LEICHTMAN LAUREN B

(Last) (First) (Middle)
335 N. MAPLE DRIVE, SUITE 240

(Street)
BEVERLY HILLS CA 90210

(City) (State) (Zip)
1. Name and Address of Reporting Person*
LEVINE ARTHUR E

(Last) (First) (Middle)
335 N. MAPLE DRIVE, SUITE 240

(Street)
BEVERLY HILLS CA 90210

(City) (State) (Zip)
Explanation of Responses:
1. On June 15, 2011, in accordance with the Certificate of Determination of Rights and Privileges of Series B Convertible Preferred Stock, the Partnership's 1,870 shares of Series B Convertible Preferred Stock automatically converted into an aggregate of 1,870,000 shares of Common Stock upon the consent of a majority of the outstanding shares of Series B Convertible Preferred Stock and the affirmative vote of a majority of the shares of Common Stock casting votes approving such conversion at the annual meeting of the stockholders of the Company held on June 15, 2011.
2. This Form 4 is being filed by more than one reporting person. Levine Leichtman Capital Partners IV, L.P. (the "Partnership") is the direct beneficial owner of the securities described above. LLCP Partners IV GP, LLC (the "General Partner") is the sole general partner of the Partnership. Levine Leichtman Capital Partners, Inc. ("Capital Corp.") is the sole manager of the General Partner. Arthur E. Levine is a director and shareholder of, and the President of, Capital Corp. Lauren B. Leichtman is a director and shareholder of, and the Chief Executive Officer of, Capital Corp. Each of the General Partner, Capital Corp., Mr. Levine and Ms. Leichtman may be deemed to be an indirect beneficial owner of the equity securities reported herein and disclaims beneficial ownership of such equity securities except to the extent of his, her or its indirect pecuniary interest therein.
3. Automatically converted into shares of Common Stock on June 15, 2011. See Note 1 above.
4. None.
/s/ Steven E. Hartman for Steven E. Hartman, Vice President, on behalf of Levine Leichtman Capital Partners, Inc., the sole manager of LLCP Partners IV, L.P., which is the sole general partner of Levine Leichtman Capital Partners IV, L.P. 11/09/2011
/s/ Steven E. Hartman for Steven E. Hartman, Vice President, on behalf of Levine Leichtman Capital Partners, Inc., the sole manager of LLCP Partners IV, L.P. 11/09/2011
/s/ Steven E. Hartman for Steven E. Hartman, Vice President, on behalf of Levine Leichtman Capital Partners, Inc. 11/09/2011
/s/ Arthur E. Levine 11/09/2011
/s/ Lauren B. Leichtman 11/09/2011
** Signature of Reporting Person Date
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