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 June 30, 2021 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, 2021 37,646 $ 111.50 37,646 308,802 May 1 to May 31, 2021 33,709 $ 118.60 33,709 1,275,093 June 1 to June 30, 2021 47,538 $ 126.15 47,538 1,227,555 Total 118,893 $ 119.37 118,893 1,227,555 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. In May 2021, the Company’s Board of Directors increased the number of shares of common stock authorized to be repurchased over the life of the program by 1,000,000 shares of common stock to 38,000,000 shares of common stock. There is no expiration date for the repurchase program. The Company repurchased 118,893 shares of its common stock for $14.2 million at an average price of $119.40 per share during the three months ended June 30, 2021. As of June 30, 2021, the Company had repurchased 36,772,445 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.