SCHEDULE 13G/A: CorVel Corporation's Major Shareholders Reaffirm Significant Stakes in Latest SEC Filing

An amended Schedule 13G filing reveals that Corstar Holdings, Inc. and Jeffrey J. Michael continue to hold substantial beneficial ownership in CorVel Corporation as of December 31, 2024.

Summary

• Corstar Holdings, Inc. beneficially owns 18,852,108 shares of CorVel Corporation common stock, representing 36.7% of the class.
• Jeffrey J. Michael beneficially owns an aggregate of 19,490,523 shares of CorVel Corporation common stock, representing 38% of the class.
• Mr. Michael's beneficial ownership includes 638,412 shares over which he has sole voting and dispositive power, comprising 578,787 shares from the Jeffrey J. Michael Revocable Trust and 59,625 shares from options exercisable within 60 days of December 31, 2024.
• Mr. Michael shares voting and dispositive power over 18,852,108 shares held by Corstar Holdings, Inc., where he serves as President, CEO, and sole director.
• An additional 3 shares are held by Mr. Michael's wife, over which he also shares voting and dispositive power.
• The percentages are based on 51,359,138 shares of CorVel's common stock outstanding as of February 3, 2025, as reported in CorVel's Form 10-Q for the quarterly period ended December 31, 2024.
• The shares were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership, indicating a neutral sentiment. It neither presents positive nor negative operational or financial news, but rather confirms existing ownership structures.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of significant beneficial ownership, common for publicly traded companies. It provides transparency regarding the ownership structure, particularly for large, influential shareholders or groups, and is a standard regulatory requirement for investors holding more than 5% of a company's stock.

Related Party Transactions

• Jeffrey J. Michael is the President, CEO, and sole director of Corstar Holdings, Inc., and is deemed to be the beneficial owner of shares held by Corstar Holdings, Inc. due to this relationship.
• Mr. Michael's beneficial ownership includes shares held by the Jeffrey J. Michael Revocable Trust, of which he is a trustee.
• Mr. Michael's beneficial ownership also includes 3 shares held by his wife.

Stakeholder Impact

• Shareholders: Provides transparency on significant ownership stakes, confirming the continued substantial holdings of key individuals and entities, which can influence corporate control and strategic direction.

Key Dates

Keywords

CorVel Corporation, Corstar Holdings Inc., Jeffrey J. Michael, Beneficial Ownership, SEC Filing, Schedule 13G, Common Stock, Shareholder, Corporate Governance