CRVL Form 4 — Alan Hoops Sells 2,000 Shares and Receives 1,500 Options

Rhea-AI Filing Summary

Alan Hoops, a director of CorVel Corp (CRVL), reported insider transactions executed on 08/07/2025. He sold a total of 2,000 common shares (500 sold directly and 1,500 sold indirectly via an irrevocable trust) at $88.58 per share, leaving him with 24,192 shares held directly and 113,713 shares held indirectly, for a combined beneficial ownership of 137,905 shares.

He also received a non-qualified stock option covering 1,500 shares with an exercise price of $85.56, exercisable in four equal annual installments beginning 12 months after the grant and expiring on 08/07/2035. The filing documents the change in holdings and the option grant without additional explanatory detail.

Positive

• Maintained substantial ownership: Combined direct and indirect beneficial ownership totals 137,905 shares after the transactions.
• Option grant granted with standard vesting: Received 1,500 non-qualified stock options at an exercise price of $85.56, exercisable in four equal annual installments beginning 12 months after grant.

Negative

• Insider dispositions: Sold a total of 2,000 shares (500 direct, 1,500 indirect) at $88.58 per share on 08/07/2025.

Insights

Securities Analyst

TL;DR: Routine insider sale plus option grant; ownership remains substantial.

The Form 4 shows a director-level sale of 2,000 shares at $88.58 and a contemporaneous grant of 1,500 non-qualified stock options at an $85.56 exercise price. Post-transaction beneficial ownership totals 137,905 shares, indicating continued material ownership. The option vests in four equal annual installments starting 12 months after grant, with a 10-year expiration, consistent with standard executive incentive structures. No other compensatory or hedging arrangements are disclosed in this filing.

Corporate Governance Expert

TL;DR: Disclosure is straightforward; option vesting schedule is typical for retention incentives.

The report documents both disposition and grant activity by a director and identifies indirect ownership via a named irrevocable trust. The exercisability in annual installments beginning one year after grant aligns with customary retention-focused awards. The sale activity is quantifiable (500 direct; 1,500 indirect) and the continued combined holding of 137,905 shares suggests ongoing alignment with shareholders. The filing contains no governance flags such as pledged shares or related-party conflicts beyond the trust designation.

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^*

HOOPS ALAN

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/07/2025

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	08/07/2025		S		500	D	$88.58	24,192	D
Common Stock	08/07/2025		S		1,500	D	$88.58	113,713	I	Hoops Irrev. Trust

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)	$85.56	08/07/2025		A		1,500		(1)	08/07/2035	Common Stock	1,500	$0.0	1,500	D

Explanation of Responses:

1. Exercisable in a series of 4 equal and successive annual installments commencing 12 months following the date of grant.

	By: Sharon O'Connor For: Alan Hoops	08/08/2025
	** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did Alan Hoops report on the CRVL Form 4?

The filing shows sales of 2,000 common shares (500 direct, 1,500 indirect) at $88.58 and a grant of 1,500 non-qualified stock options with an $85.56 exercise price.

How many CRVL shares does Alan Hoops own after the reported transactions?

After the transactions Hoops beneficially owns 24,192 shares directly and 113,713 shares indirectly (via an irrevocable trust), totaling 137,905 shares.

What are the key terms of the stock option reported on the Form 4?

The option covers 1,500 shares at an exercise price of $85.56, is exercisable in four equal annual installments beginning 12 months after grant, and expires on 08/07/2035.

At what price were the CRVL shares sold?

The reported dispositions were executed at $88.58 per share.

Was any indirect ownership disclosed?

Yes. The filing shows 113,713 shares held indirectly by a named Hoops Irrevocable Trust.