Form 4: CorVel Director Alan Hoops Exercises Stock Options and Sells Shares for Tax Obligations

CorVel Corporation Director Alan Hoops exercised 9,000 non-qualified stock options at $11.053 per share and subsequently sold 996 shares at $99.83 to cover tax liabilities.

Summary

• CorVel Corporation Director Alan Hoops exercised 9,000 non-qualified stock options on July 8, 2025.
• The exercise price for these options was $11.053 per share.
• Following the exercise, Mr. Hoops directly held 25,688 shares of common stock.
• On the same date, Mr. Hoops disposed of 996 shares of common stock at a price of $99.83 per share.
• This disposition was to cover the option exercise price and/or tax liability associated with the option exercise.
• After these transactions, Mr. Hoops' direct beneficial ownership stands at 24,692 shares.
• Additionally, Mr. Hoops indirectly beneficially owns 115,213 shares through the Hoops Irrevocable Trust.
• The non-qualified stock options were exercisable in a series of four equal and successive annual installments, commencing 12 months after the grant date, with an expiration date of August 6, 2025.

Sentiment

Score: 5

Explanation: The document reports a routine insider transaction involving the exercise of stock options and a sale to cover tax liabilities, which is a neutral event in terms of company performance or strategic direction.

Positives

• Director Alan Hoops exercised 9,000 non-qualified stock options, indicating a realization of value from previously granted equity.
• The exercise price of $11.053 is significantly lower than the sale price of $99.83 for the shares disposed of for tax, suggesting a substantial in-the-money position for the options.

Negatives

• A portion of the exercised shares (996 shares) was sold to cover tax liabilities, which is a common practice but represents a reduction in direct shareholding.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• The exercise of stock options by a director and the subsequent sale of a small portion to cover tax liabilities is a routine event and is unlikely to have a significant direct impact on shareholders, employees, customers, suppliers, or creditors.

Next Steps

• The remaining non-qualified stock options, if any, are exercisable in a series of four equal and successive annual installments commencing 12 months following the date of grant.

Key Dates

Keywords

CorVel Corp, CRVL, SEC Form 4, Insider Transaction, Stock Option Exercise, Alan Hoops, Director, Equity Compensation, Tax Liability, Beneficial Ownership