CORVEL CORP
For the period ended Dec 31, 2023. Filed Feb 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 1, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds
There were no sales of unregistered equity securities during the period covered by this report. The following table sets forth the repurchases of the Company’s common stock made by or on behalf of the Company in open-market transactions for the quarter ended December 31, 2023 pursuant to its publicly announced stock repurchase plan.
| Total Number of | ||||
|---|---|---|---|---|
| Shares Purchased · Maximum Number | ||||
| as Part of Publicly · of Shares that may | ||||
| Total Number of | Average Price Paid | Announced | still be Purchased | |
| Period | Shares Purchased | Per Share | Program | Under the Program |
| October 1 to October 31, 2023 | 16,498 | $199.85 | 16,498 | 1,032,143 |
| November 1 to November 30, 2023 | 14,689 | $206.18 | 14,689 | 1,017,454 |
| December 1 to December 31, 2023 | 12,804 | $234.05 | 12,804 | 1,004,650 |
| Total | 43,991 | $211.92 | 43,991 | 1,004,650 |
In 1996, the Company’s Board of Directors authorized a stock repurchase program for up to 100,000 shares of the Company’s common stock. The Company’s Board of Directors has periodically increased the number of shares authorized for repurchase under the repurchase program. In November 2022, the Company’s Board of Directors increased the number of shares of common stock authorized to be repurchased over the life of the program by 1,000,000 shares of common stock to 39,000,000 shares of common stock. There is no expiration date for the repurchase program. The Company repurchased 43,991 shares of its common stock for $9.3 million at an average price of $211.94 per share during the three months ended December 31, 2023. As of December 31, 2023, the Company has repurchased 37,995,350 shares of its common stock over the life of the program.
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