CORVEL CORP 10-Q

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 September 30, 2020 pursuant to its publicly announced stock repurchase plan, which represents the total number of shares purchased by the Company and its affiliates. 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 July 1 to July 31, 2020 57,863 $ 76.00 57,863 621,908 August 1 to August 31, 2020 51,736 $ 80.92 51,736 570,172 September 1 to September 30, 2020 40,726 $ 84.81 40,726 529,446 Total 150,325 $ 80.08 150,325 529,446 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 184,963 shares of its common stock for $14.4 million at an average price of $78.07 per share during the six months ended September 30, 2020 after its stock repurchase program resumed. As of September 30, 2020, the Company had repurchased 36,470,554 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.