MICHAEL JEFFREY J 4

What Happened Michael J. Jeffrey, a 10% owner of CorVel Corp (CRVL), exercised 9,000 options on 2026-06-09 at an exercise price of $14.44 (cash paid $129,960) and sold 9,000 shares the same day in an open-market transaction at $60.98 per share for gross proceeds of $548,834. The filing also shows a derivative disposition of 9,000 units at $0.00, reflecting the conversion/exercise of those option units. This sequence (exercise then immediate sale) is commonly a cashless exercise followed by a sale rather than a net new purchase.

Key Details

• Transaction dates: 2026-06-09 (exercise and sale).
• Exercise: 9,000 shares @ $14.44 — total cash paid $129,960.
• Sale: 9,000 shares @ $60.98 — gross proceeds $548,834.
• Derivative disposition: 9,000 units @ $0.00 (reflects conversion/exercise).
• Shares owned after transaction: Not specified in this filing.
• Footnote: F1 — options are exercisable in four equal annual installments beginning 12 months after grant.
• Filing: Report filed 2026-06-10 for a 2026-06-09 transaction (filed the next day; appears timely).

Context

• This was an option exercise immediately followed by a sale (cashless exercise / sell-to-cover style), not a new open-market purchase. Such transactions often reflect option holders realizing value rather than signaling a new bullish buy.
• As a 10% owner, Jeffrey is a significant shareholder (insider reporting category), which differs from routine employee or small insider trades. The filing is factual and does not state motivations.