CORVEL CORP — Director's Dealing 2016

May 9, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CORVEL CORP (CRVL)
CIK: 0000874866
Period of Report: 2016-05-05

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-05	Common Stock	M	3542.0	$21.87	Acquired	1771966	Direct
2016-05-05	Common Stock	F	1693.0	$45.73	Disposed	1770273	Direct
2016-05-05	Common Stock	F	643.0	$45.73	Disposed	1769630	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-05	Non-Qualified Stock Option (right to buy)	$21.87	M	3542.0	Disposed	2016-08-04	Common Stock (3542)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	127335	Indirect

Footnotes

F1: Shares delivered in payment of the option exercise price and/or tax liability incident to the option exercise.

F2: The form of ownership of CorVel stock held by the reporting person changed from Direct to Indirect when the shares were transferrred without consideration on December 20, 2012 to Clemons Management LLC. The reporting person and his spouse own Clemons Management LLC and therefore have investment and voting control over the shares of CorVel stock held by Clemons Management LLC.

F3: Exercisable as to 25% of shares one year following grant date with the remaining shares exercisable in 36 equal monthly installments thereafter.