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 December 31, 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 October 1 to October 31, 2020 24,428 $ 89.99 24,428 505,018 November 1 to November 30, 2020 24,726 $ 90.93 24,726 480,292 December 1 to December 31, 2020 33,003 $ 98.05 33,003 447,289 Total 82,157 $ 93.51 82,157 447,289 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 267,120 shares of its common stock for $22.1 million at an average price of $82.83 per share during the nine months ended December 31, 2020 after its stock repurchase program resumed. As of December 31, 2020, the Company had repurchased 36,552,711 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.