CorVel (CRVL) Director Option Grant — 1,500 Shares, $85.56 Strike

Rhea-AI Filing Summary

Steven Hamerslag, a director of CorVel Corp (CRVL), was granted a non-qualified stock option to purchase 1,500 shares at an exercise price of $85.56. The option is exercisable in four equal annual installments beginning 12 months after the grant date and expires on 08/07/2035.

Following the reported transaction the filing shows beneficial ownership of 1,500 shares on a direct basis. The filing records the grant terms and the vesting schedule but does not disclose total dilution, percentage ownership, or any cash proceeds received.

Positive

• Non-qualified stock option grant documented for 1,500 underlying shares at an $85.56 exercise price
• Vesting schedule disclosed: four equal annual installments commencing 12 months after grant; expiration 08/07/2035

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant with multi-year vesting; materiality cannot be judged without share count.

The Form 4 documents a non-qualified stock option grant of 1,500 underlying shares to a company director at a strike of $85.56, exercisable in four equal annual installments starting 12 months post-grant and expiring on 08/07/2035. This is a standard long-term incentive structure for a director. The filing is complete on grant mechanics but does not provide outstanding share data, so potential dilution and relative impact on governance or control cannot be assessed from this form alone.

Executive Compensation Analyst

TL;DR: Compensation detail disclosed; vesting and ten-year term are typical for option grants.

The report specifies a Non-Qualified Stock Option (right to buy) for 1,500 shares at an exercise price of $85.56, with vesting in four equal annual installments beginning 12 months after grant. The ten-year contractual life (expiration 08/07/2035) aligns with common option practices. The filing shows direct beneficial ownership of the 1,500 shares post-grant. Without additional compensation context or company-wide equity metrics, the grant’s relative scale and cost are indeterminate.

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
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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^*

HAMERSLAG STEVEN J

(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

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: Steven Hamerslag	08/11/2025
	** 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 the Form 4 for CRVL disclose about Steven Hamerslag's transaction?

The filing shows a Non-Qualified Stock Option grant for 1,500 shares with an exercise price of $85.56.

When can the options granted to the CRVL director be exercised?

They vest in four equal annual installments beginning 12 months after the grant date.

When do the options expire and how many shares are involved for CRVL?

The options expire on 08/07/2035 and cover 1,500 underlying common shares.

What ownership is reported after the reported transaction for CRVL insider?

The Form 4 reports 1,500 shares beneficially owned on a direct basis following the transaction.

Does the Form 4 disclose dilution or percentage ownership for CRVL?

No. The filing does not provide total shares outstanding or percentage ownership, so dilution cannot be determined from this form alone.