CorVel insider exercised options and plans $1.58M sale of 18,000 shares

Rhea-AI Filing Summary

CorVel Corporation insider filing reports a proposed Rule 144 sale of 18,000 common shares through Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $1,580,823.00. The filer states those shares were acquired by stock option exercise on 09/11/2025 and paid for in cash the same day. The filing also discloses that the same person sold 12,000 shares on 08/20/2025 for gross proceeds of $1,069,975.20. The notice includes the standard representation that the seller is not aware of undisclosed material adverse information about the issuer.

Positive

• Compliance disclosure filed under Rule 144, providing transparency on insider option exercise and planned sale
• Broker-dealer identified (Morgan Stanley Smith Barney) and trading venue (NASDAQ) for the proposed sale

Negative

• Insider liquidity event: proposed sale of 18,000 shares valued at $1,580,823.00, which may be perceived negatively by some investors
• Recent prior sale of 12,000 shares on 08/20/2025 for $1,069,975.20, indicating ongoing insider selling

Insights

Securities Analyst

TL;DR Insider exercised options and plans a significant open-market sale totaling 18,000 shares valued at about $1.58M.

The filing documents a routine Rule 144 notice tied to an option exercise and immediate planned sale through a broker-dealer on NASDAQ. The prior sale of 12,000 shares on 08/20/2025 for roughly $1.07M provides recent liquidity context. For investors, these are factual disclosures about insider liquidity rather than statements about company performance; the filing contains no operational or financial results.

Corporate Governance Expert

TL;DR This is a standard insider compliance filing showing option exercise and subsequent sale activity; no regulatory concerns evident.

The notice includes the required certification about lack of undisclosed material information and lists broker details for the planned sale. From a governance perspective, timely disclosure of option exercises and Rule 144 sales supports transparency. The document does not state any trading plan dates or 10b5-1 plan adoption, so no affirmative assertion of an automated trading plan is provided in the form text.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	18000	1580823.00	51312748	09/11/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/11/2025	Stock Option Exercise	Issuer			18000	09/11/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
MAXIM SHISHIN 5128 Apache Plume Road Suite 400 Fort Worth TX 76109	Common	08/20/2025	12000	1069975.20

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for CRVL disclose about the planned sale?

The filing discloses a proposed Rule 144 sale of 18,000 common shares via Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $1,580,823.00.

How were the 18,000 shares acquired according to the filing?

The filing states the shares were acquired by stock option exercise on 09/11/2025 and paid for in cash on that date.

Has the insider sold shares recently prior to this filing?

Yes; the filing shows the sale of 12,000 shares on 08/20/2025 for gross proceeds of $1,069,975.20.

Through which broker will the proposed sale of CRVL shares be executed?

The proposed sale is identified to be executed through Morgan Stanley Smith Barney LLC, Executive Financial Services.

Does the filing state whether the seller knows of any undisclosed material information?

Yes; by signing the notice, the person represents they do not know of any material adverse information about the issuer that has not been publicly disclosed.