CORVEL CORP 10-Q

Item 2 – Unregistered Sales of Equ ity 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 June 30, 2020 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 yet be Purchased Period Shares Purchased Per Share Program Under the Program April 1 to April 30, 2020 — $ — — 714,409 May 1 to May 31, 2020 — $ — — 714,409 June 1 to June 30, 2020 34,638 $ 69.24 34,638 679,771 Total 34,638 $ 69.24 34,638 679,771 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. The Company’s Board of Directors has authorized up to 37,000,000 shares of common stock to be repurchased over the life of the program. There is no expiration date for the repurchase program. Although the Company had temporarily suspended share repurchases under its stock repurchase program from March 21 through June 14, 2020, the Company repurchased 34,638 shares of its common stock for $2.4 million at an average price of $69.27 per share during the three months ended June 30, 2020 after its stock repurchase program resumed. As of June 30, 2020, the Company had repurchased 36,320,229 shares of its common stock over the life of the program. Item 3 – Defaults Upon Senior Securities – None. Item 4 – Mine Safety Disclosures – Not applicable.