CORVEL CORP
For the period ended Dec 31, 2024. Filed Feb 6, 2025.
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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, 2024 · Filed Feb 6, 2025
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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 December 31, 2024, all of which were made in open-market purchases pursuant to our publicly announced stock repurchase plan. During the quarter ended December 31, 2024, the Company effected the Stock Split. All prior period share, equity award and per share amounts and calculations in this report and in the consolidated financial statements contained in this report have been retroactively adjusted to reflect this split.
| 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 |
| October 1 to October 31, 2024 | 33,102 | $104.11 | 33,102 | 2,656,578 |
| November 1 to November 30, 2024 | 25,734 | $116.42 | 25,734 | 2,630,844 |
| December 1 to December 31, 2024 | 26,874 | $117.04 | 26,874 | 2,603,970 |
| Total | 85,710 | $111.86 | 85,710 | 2,603,970 |
In 1996, the Board authorized a stock repurchase program for up to 100,000 original 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 3,000,000 shares to 117,000,000 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 December 31, 2024, the Company repurchased 85,710 shares of its common stock for $9.5 million under the program, reflecting an average price of $111.87 per share. As of December 31, 2024, the Company repurchased 114,396,030 shares of its common stock over the life of the program.
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