CORVEL CORP — Director's Dealing 2013

Dec 23, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CORVEL CORP (CRVL)
CIK: 0000874866
Period of Report: 2013-12-20

Reporting Person: CLEMONS V GORDON (Director, Chairman of the Board)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-20	Common Stock	G	5500	—	Disposed	1764168	Direct
2013-12-23	Common Stock	M	17917	$18.28	Acquired	1782085	Direct
2013-12-23	Common Stock	F	6933	$47.24	Disposed	1775152	Direct
2013-12-23	Common Stock	F	3692	$47.24	Disposed	1771460	Direct
2013-12-23	Common Stock	M	2700	$17.6	Acquired	1774160	Direct
2013-12-23	Common Stock	F	1005	$47.24	Disposed	1773155	Direct
2013-12-23	Common Stock	F	525	$47.24	Disposed	1772630	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-12-23	Non-Qualified Stock Option (right to buy)	$17.6	M	2700	Disposed	2015-07-07	Common Stock (2700)	Direct
2013-12-23	Non-Qualified Stock Option (right to buy)	$18.28	M	17917	Disposed	2015-05-14	Common Stock (17917)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	178751	Indirect

Footnotes

F1: Gift of shares to charitable fund by reporting person's spouse.

F2: Shares delivered in payment of the option exercise price and/or tax liability incident to the option exercise.

F3: The shares were gifted on December 28, 2012 when the Clemons Management LLC transferred pecuniary interest in the shares in the form of economic units of the LLC without consideration to two irrevocable trusts each established for the adult children of the reporting person and his spouse who still retain investment and voting control over the shares. However, the reporting person and his spouse disclaim beneficial ownership over such shares except to the extent of their pecuniary interest therein.

F4: Exercisable as to 25% of shares one year following grant date with the remaining shares exercisable in 36 equal monthly installments thereafter.