Combs Michael G Form 4 CORVEL / Michael G Combs ownership change

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).

1. Name and Address of Reporting Person^*

Combs Michael G

(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)
CEO & President

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2022

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	02/11/2022		M		18,750	A	$49.4	23,342	D
Common Stock	02/11/2022		F(1)		5,835	D	$158.74	17,507	D
Common Stock	02/11/2022		F(1)		5,388	D	$158.74	12,119	D
Common Stock	02/11/2022		M		8,750	A	$57.35	20,869	D
Common Stock	02/11/2022		F(1)		3,161	D	$158.74	17,708	D
Common Stock	02/11/2022		F(1)		2,703	D	$158.74	15,005	D
Common Stock	02/11/2022		M		3,286	A	$59.32	18,291	D
Common Stock	02/11/2022		F(1)		1,227	D	$158.74	17,064	D
Common Stock	02/11/2022		F(1)		995	D	$158.74	16,069	D
Common Stock	02/11/2022		M		3,999	A	$59.32	20,068	D
Common Stock	02/11/2022		F(1)		1,494	D	$158.74	18,574	D
Common Stock	02/11/2022		F(1)		1,211	D	$158.74	17,363	D
Common Stock	02/11/2022		M		6,400	A	$59.32	23,763	D
Common Stock	02/11/2022		F(1)		2,391	D	$158.74	21,372	D
Common Stock	02/11/2022		F(1)		1,938	D	$158.74	19,434	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
Non-Qualified Stock Option (right to buy)	$49.4	02/11/2022		M			18,750	(2)	05/03/2023	Common Stock	18,750	$158.74	1,250	D
Non-Qualified Stock Option (right to buy)	$57.35	02/11/2022		M			8,750	(2)	08/02/2023	Common Stock	8,750	$158.74	1,250	D
Non-Qualified Stock Option (right to buy)	$59.32	02/11/2022		M			3,286	(3)	11/01/2023	Common Stock	3,286	$158.74	11,200	D
Non-Qualified Stock Option (right to buy)	$59.32	02/11/2022		M			3,999	(3)	11/01/2023	Common Stock	3,999	$158.74	7,201	D
Non-Qualified Stock Option (right to buy)	$59.32	02/11/2022		M			6,400	(3)	11/01/2023	Common Stock	6,400	$158.74	801	D

Explanation of Responses:

1. Shares delivered in payment of the option exercise price and/or tax liability incident to the option exercise.

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

3. Option will vest based on achievement of certain performance criteria relating to earnings growth.

	By: Sharon O'Connor For: Michael Combs	02/15/2022
	** 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).
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