Form 4: CRVL Insider Disposes 40,000 Shares on 09/02/2025

Rhea-AI Filing Summary

Corvel Corp (CRVL) Form 4: Corstar Holdings, Inc., filed by Jeffrey Michael as reporting person, reported a sale of 40,000 shares of Corvel common stock on 09/02/2025 at a reported price of $88.848 per share. After the sale, the reporting person beneficially owned 18,812,108 shares. The filing indicates the reporter is a director and the Form 4 was filed by one reporting person.

Positive

• None.

Negative

• Insider sale disclosed: Reporting person sold 40,000 shares at $88.848 on 09/02/2025.
• Director involvement: The seller is identified as a director, which can draw investor attention to insider trading activity.

Insights

Financial Analyst

TL;DR: A sizable insider sale was reported but the filing shows continued substantial ownership.

The Form 4 documents a disposition of 40,000 shares at $88.848, reducing beneficial holdings to 18,812,108 shares. This is a factual disclosure of insider selling activity; no derivative transactions or purchase plans are disclosed. Without percentage ownership or context on total outstanding shares or a filing indicating a Rule 10b5-1 plan, the market impact is unclear.

Corporate Governance Expert

TL;DR: A director reported a direct sale; disclosure is routine but should be monitored for pattern.

The reporting person is identified as a director and reported a direct sale (transaction code S). The Form 4 is properly signed. The filing provides clear transaction detail (shares, price, post-transaction holdings). Absent additional context (e.g., a pre-established trading plan), repeated insider sales or timing could raise governance questions, but this single filing alone does not indicate misconduct.

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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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)
09/02/2025

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	09/02/2025		S		40,000	D	$88.848	18,812,108	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:

	By: Jeffrey Michael For: Corstar Holdings, Inc.	09/02/2025
	** 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 insider transaction did Corvel (CRVL) file on 09/02/2025?

The Form 4 reports a sale of 40,000 shares of Corvel common stock at a price of $88.848 per share.

Who filed the Form 4 for CRVL and what is their relationship to the company?

The filing was by Corstar Holdings, Inc. via Jeffrey Michael, who is identified as a director of the issuer.

How many Corvel shares were owned after the reported transaction?

After the sale the reporting person beneficially owned 18,812,108 shares.

Does the Form 4 show any options or derivative transactions for CRVL?

No. Table II (derivative securities) contains no reported transactions; only a non-derivative sale is reported.

Was the sale reported as part of a trading plan (Rule 10b5-1)?

The filing does not indicate that the transaction was made pursuant to a Rule 10b5-1 trading plan.