CRVL CORVEL CORP

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q3 2025: $9M, Q2 2025: $10M, Q1 2025: $10M, Q3 2024: $9M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $9M vs trailing avg $9M (+0%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $38M / FCF $39M = 98% of FCF

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 1,030,915 shares = 2.0% of 51,359,544 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

No insider open-market purchases in the last 12 months

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Need both buyback and insider purchase data

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $2M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

Company buying back stock while insiders sold 18471687.6x more than bought. 4 C-suite officers among sellers

• Shishin Maxim (Chief Information Officer) sold 2,400 shares on 2026-03-16
• Combs Michael G (CEO & President) sold 8,013 shares on 2026-03-09
• Shishin Maxim (Chief Information Officer) sold 9,000 shares on 2025-09-11
• Shishin Maxim (Chief Information Officer) sold 9,000 shares on 2025-09-11
• O'Brien Brandon (Chief Financial Officer) sold 1,764 shares on 2025-09-08
• Shishin Maxim (Chief Information Officer) sold 12,000 shares on 2025-08-20
• O'Brien Brandon (Chief Financial Officer) sold 3,957 shares on 2025-06-09
• Shishin Maxim (Chief Information Officer) sold 2,400 shares on 2025-06-09
• O'Brien Brandon (Chief Financial Officer) sold 2,211 shares on 2025-06-05
• Combs Michael G (CEO & President) sold 2,816 shares on 2025-06-03