CorVel (CRVL) CIO exercises options, sells 2,400 newly acquired shares

Rhea-AI Filing Summary

CorVel Corp Chief Information Officer Maxim Shishin reported an option exercise and related share sale. He exercised 2,400 non-qualified stock options for CorVel common stock at an exercise price of $39.827 per share, fully eliminating this option grant.

The exercise delivered 2,400 common shares, which were then sold the same day in an open-market transaction at an average price of $54.0016 per share. After these transactions, Shishin directly owned 7,050 CorVel common shares. A footnote explains the option had vested over time following its original grant.

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Shishin Maxim

(Last) (First) (Middle)

5128 APACHE PLUME ROAD, SUITE 400

(Street)

FORT WORTH TX 75109

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CORVEL CORP [ CRVL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Information Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	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	03/16/2026		M		2,400	A	$39.827	9,450	D
Common Stock	03/16/2026		S		2,400	D	$54.0016	7,050	D

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
Non-Qualified Stock Option (right to buy)	$39.827	03/16/2026		M			2,400	(1)	05/06/2026	Common Stock	2,400	$0.0	0	D

Explanation of Responses:

1. Exercisable as to 25% of shares one year following grant date with the remaining shares exercisable in 36 equal monthly installments thereafter.

	By: Sharon O'Connor For: Maxim Shishin	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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FAQ

What insider transactions did CorVel (CRVL) CIO Maxim Shishin report?

Maxim Shishin reported exercising 2,400 non-qualified stock options and immediately selling 2,400 CorVel common shares. The exercise converted options into stock, and the same number of shares was sold in the open market on the transaction date.

How many CorVel (CRVL) shares did the CIO sell and at what price?

The CIO sold 2,400 CorVel common shares in an open-market transaction at an average price of $54.0016 per share. These shares came directly from an option exercise completed on the same date, rather than from his previously held common stock.

What option grant did Maxim Shishin exercise in this CorVel (CRVL) Form 4?

He exercised 2,400 non-qualified stock options with an exercise price of $39.827 per share. A footnote notes the grant vested 25% after one year, with the remaining shares vesting in 36 equal monthly installments following the first anniversary.

How many CorVel (CRVL) shares does the CIO hold after these transactions?

Following the option exercise and sale, Maxim Shishin directly owned 7,050 CorVel common shares. His share balance rose to 9,450 after the exercise, then returned to 7,050 after selling the 2,400 newly acquired shares in the open market.

Did Maxim Shishin retain any of the exercised CorVel (CRVL) options?

No. The filing shows 2,400 options exercised with zero derivative securities remaining from that grant afterward. The derivative section’s total_shares_following_transaction is 0.0000, indicating this particular non-qualified stock option position was fully exercised.