[Form 4] Corvel Corp Insider Trading Activity

Rhea-AI Filing Summary

CorVel Corp (CRVL) Form 4 filing: Corstar Holdings Inc. reported a sale of 70,000 shares of CorVel common stock on 09/08/2025 at a price of $91.46 per share, leaving 18,742,108 shares beneficially owned following the transaction. The filing indicates the sale was made under a Rule 10b5-1 trading plan adopted May 28, 2025. The Form 4 is signed on behalf of the reporting entity and lists the reporting person as a director and 10% owner. The transaction is recorded as a direct disposition of common stock and no derivative transactions are reported.

Positive

• Transaction disclosed promptly via Form 4 with signature, meeting SEC reporting requirements
• Sale executed under a Rule 10b5-1 trading plan, which provides preplanned execution and reduces appearance of opportunistic timing

Negative

• Insider disposition of shares (70,000 shares sold), which could be interpreted negatively by some investors despite plan-based execution

Insights

Corporate Governance Expert

TL;DR: Insider sale executed under a Rule 10b5-1 plan reduces signaling risk but warrants disclosure review.

The filing shows a routine, preplanned disposition of 70,000 shares under a documented 10b5-1 plan, which generally provides an affirmative defense against insider trading allegations if the plan was adopted in good faith and prior to the trade dates. The reporting person remains a substantial holder with 18.7 million shares after the sale, so control influence is unchanged. From a governance perspective, the presence of a signed Form 4 and explicit 10b5-1 disclosure meets standard disclosure expectations; stakeholders may review plan adoption timing and any subsequent plan amendments for completeness.

Securities Analyst

TL;DR: Small disposition relative to total holdings; transaction unlikely to materially affect valuation.

The sale of 70,000 shares at $91.46 equals $6.402 million in proceeds but represents a small fraction of the reported 18.7 million shares owned, suggesting limited impact on share supply or company valuation. No options or other derivative transactions are reported. Because the sale is tied to a Rule 10b5-1 plan adopted May 28, 2025, market reaction should be measured; analysts typically treat plan-based sales as less informative about insider views on near-term fundamentals.

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^*

CORSTAR HOLDINGS INC

(Last) (First) (Middle)

6640 SHADY OAK RD., STE. 370

(Street)

EDEN PRAIRIE MN 55344

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

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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	09/08/2025		S(1)		70,000	D	$91.46	18,742,108	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

Explanation of Responses:

1. Sales reported above were made pursuant to a Rule 10b5-1 trading plan adopted on May 28, 2025.

	By: Jeffrey Michael For: Cortar Holdings, Inc.	09/10/2025
	** 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 the Form 4 for CRVL report?

The filing reports a sale of 70,000 shares of CorVel common stock on 09/08/2025 at $91.46 per share.

Who filed the Form 4 for CRVL?

The reporting person is listed as Corstar Holdings Inc., identified as a director and 10% owner; the form was signed on behalf of the reporting entity.

How many shares does the reporting person own after the sale?

The filing shows 18,742,108 shares beneficially owned following the reported transaction.

Was the sale part of a trading plan?

Yes. The filing states the sales were made pursuant to a Rule 10b5-1 trading plan adopted May 28, 2025.

Were any derivative transactions reported?

No. Table II for derivative securities shows no derivative transactions reported in this filing.