Form 4: Corvel Corp CEO Michael Combs Executes Stock Options and Sells Shares to Cover Costs
SEC Form 4
Corvel Corp CEO Michael Combs exercised stock options and sold shares to cover the exercise price and tax liabilities on January 6, 2025.
Summary
- On January 6, 2025, Michael Combs, CEO and President of Corvel Corp, executed multiple stock option exercises.
- These exercises involved the acquisition of 14,043 shares of common stock at prices ranging from $17.563 to $39.827 per share.
- Simultaneously, Mr. Combs sold 7,947 shares of common stock at a price of $109.03 per share to cover the costs associated with the option exercises and tax liabilities.
- Following these transactions, Mr. Combs directly owns 47,037 shares of common stock.
- He also holds options to purchase 1,057 shares at $39.827, 156 shares at $34.437 and 0 shares at $17.563.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices, with no indication of unusual activity. The sentiment is neutral to slightly positive as it shows the CEO is exercising options which is a sign of confidence.
Industry Context
This is a routine filing related to executive stock option exercises and sales, which is common practice in publicly traded companies.
Comparison to Industry Standards
- Executive stock option exercises and subsequent sales to cover costs are standard practice across publicly listed companies.
- The specific details of the transactions, such as the number of shares and prices, are specific to Corvel Corp and its executive compensation plan.
- Similar transactions are regularly reported by executives at companies like UnitedHealth Group (UNH), Cigna (CI), and Humana (HUM), which are also in the healthcare services sector.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they involve a small number of shares relative to the total outstanding shares.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 01/06/2025 | Date of stock option exercises and share sales. |
| 01/08/2025 | Date of signature on the Form 4 filing. |
| 04/30/2025 | Expiration date of some stock options. |
| 02/04/2026 | Expiration date of some stock options. |
| 05/06/2026 | Expiration date of some stock options. |
Keywords
stock options, insider trading, executive compensation, share transactions, Form 4, Corvel Corp, CRVL
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