CORVEL CORP — Director's Dealing 2014

Mar 7, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CORVEL CORP (CRVL)
CIK: 0000874866
Period of Report: 2014-03-05

Reporting Person: McCloud Scott R (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-03-05	Common Stock	M	562	$12.71	Acquired	13320	Direct
2014-03-05	Common Stock	S	562	$47.8252	Disposed	12758	Direct
2014-03-05	Common Stock	M	2400	$14.46	Acquired	15158	Direct
2014-03-05	Common Stock	S	2400	$47.8768	Disposed	12758	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-03-05	Non-Qualified Stock Option (right to buy)	$12.71	M	562	Disposed	2014-08-06	Common Stock (562)	Direct
2014-03-05	Non-Qualified Stock Option (right to buy)	$14.46	M	2400	Disposed	2014-11-02	Common Stock (2400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1342	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.68 to $48.27, inclusive. The reporting person undertakes to provide to CorVel Corporation, any security holder of CorVel Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1) and (2) of this Form 4.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.68 to $48.18, inclusive.

F3: Shares acquired under the Issuer's Employee Stock Purchase Plan in a transaction exempt under SEC Rule 16b-3 (c)

F4: Denise McCloud, former employee of CorVel Corporation and the spouse of Mr. McCloud, acquired shares through Company's Employee Stock Purchase Plan. Mr. McCloud is reporting the indirect ownership of the shares held by Denise McCloud.

F5: Exercisable as to 25% of shares one year following grant date with the remaining shares exercisable in 36 equal monthly installments thereafter.

F6: Option will vest based on achievement of certain performance criteria relating to earnings growth.