CORVEL CORP
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 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
Unregistered Sales of Equity Securities
None.
Use of Proceeds
Not Applicable.
Issuer Purchases of Equity Securities
The following table sets forth the repurchases of our common stock made by or on behalf of the Company during the quarter ended September 30, 2024, all of which were made in open-market purchases pursuant to our publicly announced stock repurchase plan.
| Total Number of · Maximum Number | ||||
|---|---|---|---|---|
| Shares Purchased · of Shares Remaining | ||||
| as Part of Publicly · Available to | ||||
| Total Number of | Average Price Paid | Announced | be Purchased | |
| Period | Shares Purchased | Per Share | Program | Under the Program |
| July 1 to July 31, 2024 | 11,865 | $277.77 | 11,865 | 916,818 |
| August 1 to August 31, 2024 | 10,723 | $307.37 | 10,723 | 906,095 |
| September 1 to September 30, 2024 | 9,535 | $314.22 | 9,535 | 896,560 |
| Total | 32,123 | $298.47 | 32,123 | 896,560 |
In 1996, the Board authorized a stock repurchase program for up to 100,000 shares of our common stock. The Board has periodically increased the number of shares authorized for repurchase under the repurchase program. In November 2022, the Board increased the number of shares of common stock authorized to be repurchased over the life of the program by 1,000,000 shares to 39,000,000 shares. There is no expiration date for the program. The program does not obligate us to acquire any amount of common stock and may be suspended or discontinued at any time at our discretion.
During the three months ended September 30, 2024, the Company repurchased 32,123 shares of its common stock for $9.6 million under the program, reflecting an average price of $298.49 per share. As of September 30, 2024, the Company had repurchased 38,103,440 shares of its common stock over the life of the program.
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