The consistent pattern of daily CEO sells likely reflects a preset 10b5-1 plan rather than a bearish signal. Monitor next Form 4 filings for any 10b5-1 adoption disclosure or changes in selling pace. No immediate trading action warranted given the immaterial dollar volumes.
Price Chart
Executive Summary
CEO Michael Combs sold ~$1.7M in stock over four consecutive days (6/8–6/11) in identical 7,000-share blocks, and Director Michael Jeffrey exercised options and sold ~$549K on 6/9. Total insider sales of ~$2.25M over the extended period represent only ~0.07% of CorVel's $3.1B market cap, making them immaterial to the company's valuation.
Key Financial Metrics
Key Facts
- CEO Michael Combs sold 7,000 shares each day on 6/8, 6/9, 6/10, and 6/11 — totaling 28,000 shares for ~$1.70M.
- Director Michael Jeffrey exercised options on 9,000 shares at $14.44 (value $129,960) and immediately sold them at $60.98 ($548,834), plus a $0 exercise.
- Total open-market sales within the 6/2–6/9 cluster window were ~$1.40M; the broader 4-day CEO selling brings the total to ~$2.25M.
- Selling represents ~0.07% of CRVL's $3.1B market cap — well below the 0.1% materiality threshold.
- The CEO's identical daily amounts suggest a possible 10b5-1 trading plan.
Financial Impact
Total insider sales of ~$2.25M, or 0.07% of market cap — economically trivial
Risk Factors
- CEO selling could accelerate if not part of a plan, but current volumes are trivial.
- No other filings (earnings, M&A, restatement) accompany this cluster to amplify concerns.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-CRVL-1781211563081 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 28, 2026 5w ago | Insider Cluster | $69.24 $68.23 | ▼ −1.46% | ▼ −1.57% | $75.47 (+9.00%) |
Aug 5, 2026 8w ago | Press Release | $62.57 $62.75 | ▲ +0.29% | ▼ −0.06% | $75.47 (+20.62%) |
Jun 26, 2026 14w ago | DEFA14A | $61.65 $63.89 | ▲ +3.63% | ▲ +2.25% | $75.47 (+22.42%) |
Jun 16, 2026 15w ago | Insider Cluster | $59.69 $59.69 | · 0.00% | ▲ +2.23% | $75.47 (+26.44%) |
Jun 11, 2026 16w ago | Insider Cluster | $60.34 $58.53 | ▼ −3.01% | ▼ −3.68% | $75.47 (+25.07%) |
Jun 11, 2026 16w ago | Insider Cluster | $60.34 $58.53 | ▼ −3.01% | ▼ −3.68% | $75.47 (+25.07%) |
Jun 10, 2026 16w ago | Insider Cluster | $60.79 $58.14 | ▼ −4.36% | ▼ −4.79% | $75.47 (+24.15%) |
Jun 2, 2026 17w ago | Press Release | $57.61 $61.11 | ▲ +6.08% | ▲ +9.04% | $75.47 (+31.00%) |
Jun 1, 2026 17w ago | 8-K | $57.61 $61.11 | ▲ +6.08% | ▲ +9.04% | $75.47 (+31.00%) |
Jun 1, 2026 17w ago | Press Release | $57.61 $61.11 | ▲ +6.08% | ▲ +9.04% | $75.47 (+31.00%) |
US Market Status
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