Form 4: Corvel Corp Director Clemons V. Gordon Reports Retirement and Shareholding Adjustments

V. Gordon Clemons reports retirement from Corvel Corp's Board of Directors and adjustments to shareholdings, including a correction of a previous reporting error and a stock split adjustment.

Summary

• V. Gordon Clemons, formerly Chairman of the Board of Directors at Corvel Corp, has retired effective November 26, 2024.
• This Form 4 filing reports this retirement and adjustments to Clemons's shareholdings.
• The reported amounts reflect a three-for-one forward stock split that occurred on December 24, 2024.
• A previous reporting error related to gifts of stock reported on June 10, 2024, has been corrected.
• Clemons no longer has beneficial ownership of shares held by the Marie Eve Clemons Living Trust.
• Clemons directly owns 2,467,476 shares of common stock.
• Clemons also holds non-qualified stock options for 7,563 shares of common stock with exercise prices ranging from approximately $50 to $103, vesting dates ranging from August 2025 through August 2026, and expiration dates ranging from August 2026 through August 2034.
• As a result of his retirement, Clemons will no longer be subject to Section 16 reporting requirements.

Sentiment

Score: 6

Explanation: The document is neutral in tone, reporting factual information about a director's retirement and shareholding adjustments. There are no explicit positive or negative implications for the company's performance.

Future Outlook

The reporting person will no longer be subject to Section 16 reporting requirements due to retirement.

Industry Context

This is a standard SEC Form 4 filing related to a change in beneficial ownership and a director's retirement, which is common in the corporate world. It provides transparency to investors regarding insider transactions and management changes.

Comparison to Industry Standards

• Form 4 filings are a standard practice for publicly traded companies in the US, ensuring transparency regarding insider transactions.
• The reporting requirements are governed by Section 16(a) of the Securities Exchange Act of 1934.
• Companies like Corvel Corp are expected to adhere to these regulations to maintain investor confidence.

Management Changes

Stakeholder Impact

• Shareholders are informed about the retirement of a key member of the Board of Directors.
• The report provides transparency regarding insider shareholdings and transactions.

Key Dates

Keywords

Form 4, Corvel Corp, CRVL, Stock split, Shareholding, Retirement, V. Gordon Clemons, Director