CorVel (CRVL) CIO granted options on 8,000 company shares

Rhea-AI Filing Summary

CorVel Corporation reported that Chief Information Officer Maxim Shishin received a grant of non-qualified stock options covering 8,000 shares on March 4, 2026. The options have an exercise price of $0.00 per share, reflecting a compensatory award rather than an open-market purchase.

The award vests over time: 25% of the options become exercisable one year after the grant date, with the remaining options vesting in 36 equal monthly installments thereafter. Following this grant, Shishin holds stock options for 8,000 shares directly.

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^*

Shishin Maxim

(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)
	Chief Information Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/04/2026

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)	$53.08	03/04/2026		A		8,000		(1)	03/04/2031	Common Stock	8,000	$0.0	8,000	D

Explanation of Responses:

1. Exercisable as to 25% of shares one year following grant date with the remaining shares exercisable in 36 equal monthly installments thereafter.

	By: Sharon O'Connor For: Maxim Shishin	03/06/2026
	** 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 insider transaction did CorVel (CRVL) report for Maxim Shishin?

CorVel reported a grant of non-qualified stock options to CIO Maxim Shishin for 8,000 shares. This Form 4 reflects a compensatory award, not an open-market trade, and increases his direct options holdings to 8,000 shares following the grant.

How many CorVel (CRVL) options were granted to the CIO on March 4, 2026?

On March 4, 2026, CorVel’s Chief Information Officer received non-qualified stock options for 8,000 shares. The filing shows this as a single grant transaction, categorized as an acquisition award under code A, with all 8,000 options held directly afterward.

What is the vesting schedule for Maxim Shishin’s CorVel (CRVL) option grant?

The 8,000 CorVel options vest 25% one year after the grant date, then in 36 equal monthly installments. This creates a four-year vesting period, starting with a one-year cliff, encouraging longer-term alignment between the executive’s incentives and company performance.

Was the CorVel (CRVL) CIO option grant an open-market purchase?

No, the CorVel CIO’s transaction was a grant of non-qualified stock options, not an open-market purchase. The exercise price is reported as $0.00 per share, indicating a compensatory equity award classified as an acquisition under transaction code A on the Form 4.

How is Maxim Shishin’s ownership reported after the CorVel (CRVL) option grant?

After the grant, Maxim Shishin is reported as directly owning 8,000 derivative securities in the form of non-qualified stock options. The Form 4 lists total derivative shares following the transaction as 8,000, with ownership type coded as direct rather than indirect.