Brandon O'Brien - Dec 11, 2023 Form 4/A Insider Report for CORVEL CORP (CRVL)

Role
Chief Financial Officer
Signature
/s/ Brandon O'Brien
Stock symbol
CRVL
Transactions as of
Dec 11, 2023
Transactions value $
$0
Form type
4/A
Date filed
4/17/2024, 05:36 PM
Date Of Original Report
Dec 13, 2023
Previous filing
Dec 8, 2023
Next filing
Jan 4, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CRVL Common Stock 7.31K Dec 11, 2023 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding CRVL Non-Qualified Stock Option (right to buy) 0 Dec 11, 2023 Common Stock 0 $77.93 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On December 13, 2023, the Reporting Person filed a Form 4 (the "Original Form 4") reporting the (a) December 11, 2023 exercise of 300 non-qualified stock options ("NQSOs") originally granted to the Reporting Person on November 5, 2019 (the "2019 NQSO Grant"), (b) receipt of 300 shares of the Issuer's common stock, par value $0.0001 per share ("Common Stock"), underlying such NQSOs (the "Shares"), and (c) subsequent open-market sale of the Shares (collectively, the "Transactions"). The Reporting Person was originally granted an aggregate of 7,500 NQSOs in the 2019 NQSO Grant, the vesting of which was subject to the achievement of certain performance criteria related to the Issuer's earnings growth. Of those 7,500 NQSOs, 7,125 vested upon the achievement of such performance criteria and were subsequently exercised by the Reporting Person as previously disclosed in the Reporting Person's Form 4 filings.
F2 (Continued from footnote 1) The remaining 375 NQSOs were canceled by the Issuer for failure to achieve certain performance criteria. Accordingly, the Reporting Person did not hold the 300 NQSOs exercised on December 11, 2023, and the Transactions reported on the Original Form 4 occurred due to an administrative error. Each Transaction was subsequently reversed. This amendment is being filed to confirm the number of shares of Common Stock held by the Reporting Person as of the date hereof, and to correct the number of 2019 NQSOs held by the Reporting Person as of the date hereof following the reversal of the Transactions.
F3 Following the vesting and exercise by the Reporting Person of 7,125 NQSOs from the 2019 NQSO Grant and the cancellation of the remaining 375 NQSOs for failure to achieve certain performance criteria, the Reporting Person no longer holds any of the NQSOs included in the November 5, 2019 equity grant.