CORVEL CORP — Major Shareholding Notification 2010

Feb 8, 2010

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Schedule 13G

Under the Securities Exchange Act of 1934 (Amendment No 14 )*

CorVel Corporation

(Name of Issuer)

Common Stock

(Title of Class of Securities)

34956C106

(CUSIP Number)

Check the following box if a fee is being paid with this statement. (A fee is not required only if the reporting person: (1) has a previous statement on file reporting beneficial ownership of more than five percent of the class of securities described in Item 1; and (2) has filed no amendment subsequent thereto reporting beneficial ownership of five percent or less of such class.) (See Rule 13d-7.)

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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TOC /TOC link2 "ITEM 1(a). NAME OF ISSUER"

ITEM 1(a). NAME OF ISSUER. CorVel Corporation (the “Issuer”).

link2 "ITEM 1(b). ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES"

ITEM 1(b). ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES. CorVel Corporation 2010 Main Street, Suite 600 Irvine, CA 92614

link2 "ITEM 2(a). NAME OF PERSON FILING"

ITEM 2(a). NAME OF PERSON FILING. V. Gordon Clemons (“Clemons”)

link2 "ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE RESIDENCE"

ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE RESIDENCE. c/o CorVel Corporation 2010 Main Street, Suite 600 Irvine, CA 92614

link2 "ITEM 2(c). CITIZENSHIP"

ITEM 2(c). CITIZENSHIP . United States of America

link2 "ITEM 2(d). TITLE OF CLASS OF SECURITIES"

ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock

link2 "ITEM 2(e). CUSIP NUMBER"

ITEM 2(e). CUSIP NUMBER. 34956C106

link2 "ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b), CHECK WHETHER THE PERSON FILING IS A"

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d-2(b), CHECK WHETHER THE PERSON FILING IS A: Not applicable.

link2 "ITEM 4. OWNERSHIP"

ITEM 4. OWNERSHIP.

| (a) | As of December 31, 2009, Clemons beneficially owns 1,081,368 shares
of Common Stock of the Issuer directly. |
| --- | --- |
| (b) | Clemons’ beneficial ownership of 1,081,368 shares of
Common Stock of the Issuer represents 8.91 % of the Issuer’s outstanding
Common Stock. |
| (c) | Clemons has sole voting and investment power with respect to
all 1,081,368 shares. |

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link2 "ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS"

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. Not applicable.

link2 "ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON"

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Not applicable.

link2 "ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY"

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY. Not applicable

link2 "ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP"

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. Not applicable.

link2 "ITEM 9. NOTICE OF DISSOLUTION OF GROUP"

ITEM 9. NOTICE OF DISSOLUTION OF GROUP. Not applicable.

link2 "ITEM 10. CERTIFICATION"

ITEM 10. CERTIFICATION. Not applicable.

link1 "SIGNATURE"

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: February 5, 2010

By:
V. Gordon Clemons

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