CRVL insider awarded 4,000 performance-based stock options

Rhea-AI Filing Summary

CorVel (CRVL) reported an insider equity grant. The company’s EVP of Risk Management Services received a non-qualified stock option for 4,000 shares at an exercise price of $75.36 on 11/06/2025, coded “A” for award. The option expires on 11/06/2030 and vests based on achieving performance criteria related to earnings growth. Following the grant, 4,000 derivative securities were beneficially owned, held directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bertels Mark E.

Role EVP - Risk Management Services

Type	Security	Shares	Price	Value
Grant/Award	Non-Qualified Stock Option (right to buy)	4,000	$0.00	--

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 4,000 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Bertels Mark E.

(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)
	EVP - Risk Management Services

3. Date of Earliest Transaction (Month/Day/Year)
11/06/2025

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

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)	$75.36	11/06/2025		A		4,000		(1)	11/06/2030	Common Stock	4,000	$0.0	4,000	D

Explanation of Responses:

1. Option will vest based on achievement of certain performance criteria relating to earnings growth.

	By: Sharon O'Connor For: Mark Bertels	11/10/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did CorVel (CRVL) disclose in this Form 4?

An EVP received a non-qualified stock option award for 4,000 shares at an exercise price of $75.36 on 11/06/2025.

What is the exercise price and size of the option grant for CRVL?

The award covers 4,000 shares with an exercise price of $75.36 per share.

When do the CRVL options expire?

The options expire on 11/06/2030.

How do the CRVL options vest?

Vesting is based on achieving performance criteria related to earnings growth.

How many derivative securities are beneficially owned after the transaction?

A total of 4,000 derivative securities were beneficially owned following the reported transaction, held directly.

Who is the reporting person in the CRVL filing?

An Officer, serving as EVP - Risk Management Services.