Corstar Holdings Maintains 6.34M Share Stake in Corvel Corp.

TL;DR

**Corstar Holdings still owns 6.34M shares of Corvel, showing stable institutional backing.**

AI Summary

Corstar Holdings, Inc. filed an amended SC 13G/A on February 9, 2024, indicating they continue to beneficially own 6,344,036 shares of Corvel Corp. common stock as of December 31, 2023. This represents a significant shared voting and dispositive power over Corvel's shares. For investors, this filing confirms a major institutional holder's continued substantial stake, suggesting stability in the ownership structure and potentially influencing future corporate decisions.

Why It Matters

This filing confirms a major shareholder's continued significant ownership, which can influence corporate governance and strategic direction for Corvel Corp.

Risk Assessment

Risk Level: low — The filing indicates a stable, significant ownership stake by an institutional investor, which generally reduces volatility risk.

Analyst Insight

Investors should note the continued substantial institutional ownership by Corstar Holdings, Inc., which suggests stability in Corvel Corp.'s major shareholder base. This could be a positive signal regarding long-term confidence in the company, but does not indicate any immediate change in strategy or performance.

Key Numbers

• 6,344,036 — Shares Beneficially Owned (Represents Corstar Holdings, Inc.'s shared voting and dispositive power in Corvel Corp.)
• 22 — Amendment Number (Indicates this is the 22nd amendment to the original Schedule 13G filing.)

Key Players & Entities

• Corstar Holdings, Inc. (company) — reporting person and beneficial owner
• CORVEL CORP (company) — subject company
• 6,344,036 (dollar_amount) — number of shares beneficially owned
• December 31, 2023 (date) — date of event requiring filing
• February 9, 2024 (date) — filing date

Forward-Looking Statements

• Corstar Holdings, Inc. will maintain a significant stake in Corvel Corp. for the foreseeable future. (Corstar Holdings, Inc.) — high confidence, target: December 31, 2024

FAQ

Key Financial Figures

• $0.0001 — of Securities . Common Stock, par value $0.0001 per share (e) CUSIP Number . 22100610

Filing Documents

• tm245790d1_sc13ga.htm (SC 13G/A) — 63KB
• 0001104659-24-012837.txt ( ) — 65KB

Not applicable

Item 3. Not applicable.

Ownership

Item 4. Ownership (a) Amount beneficially owned: As of December 31, 2023, Corstar Holdings, Inc. held 6,344,036 shares of CorVel common stock. As of December 31, 2023, Jeffrey J. Michael individually owned 192,929 shares of CorVel stock and options to purchase an additional 22,125 shares of CorVel common stock exercisable within 60 days of December 31, 2023. Mr. Michael is the President and CEO and the sole director of Corstar Holdings, Inc. and therefore, may be deemed to be the beneficial owner of the CorVel shares held by Corstar Holdings, Inc. 4 Page 5 of 9 Pages (b) Percent of Class: Based on 17,094,277 shares of the Issuer’s common stock outstanding as of January 29, 2024 as reported in the Issuer’s Form 10-Q for the quarterly period ended December 31, 2023, Corstar Holdings, Inc. may be deemed to be the beneficial owner of 37.11% of the Issuer’s common stock and Mr. Michael may be deemed to be the beneficial (c) The Reporting Persons have the power to vote or dispose of the number of shares as follows: (i) Sole power to vote or to direct the vote. Mr. Michael may be deemed to have the sole power to vote or direct the vote of 215,054 shares of common stock based on his ownership of 192,929 shares and options to purchase 22,125 shares that are exercisable within 60 days of December 31, 2023. (ii) Shared power to vote or to direct the vote. Mr. Michael maybe deemed to share the power to vote or direct the vote with respect to the 6,344,036 shares of CorVel common stock held by Corstar Holdings, Inc. (iii) Sole power to dispose or to direct the disposition of. Mr. Michael has sole power to dispose or control the disposition of 215,054 shares of common stock based on his ownership of 192,929 shares and options to purchase 22,125 shares that are exercisable within 60 days of December 31, 2023. (iv) Shared power to dispose or to direct the disposition of. Mr. Michael maybe deemed

Ownership of More Than Five Percent on Behalf of Another

Item 6. Ownership of More Than Five Percent on Behalf of Another Person. Not Applicable

Identification and Classification of the Subsidiary

Item 7. Identification and Classification of the Subsidiary which Acquired the Security Reported on by the Parent Holding Company . Not Applicable.

Identification and Classification of Members of the

Item 8. Identification and Classification of Members of the Group . Exhibit A attached hereto identifies each member of the group filing this Schedule 13G/A pursuant to Rule 13d-1(c).

Notice of Dissolution of Group . Not

Item 9. Notice of Dissolution of Group . Not Applicable. 5 Page 6 of 9 Pages

Certification

Item 10. Certification . By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect other than activities solely in connection with a nomination under 240.14a-11. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: February 9, 2024 /s/ Jeffrey J. Michael Jeffrey J. Michael CORSTAR HOLDINGS, INC. By: /s/ Jeffrey J. Michael Name: Jeffrey J. Michael Its: President & CEO 6 Page 7 of 9 Pages Exhibit Index Exhibit Title Page No. Exhibit A Group Members 8 Exhibit B Joint Filing Agreement 9 7 Page 8 of 9 Pages EXHIBIT A Group Members Jeffrey J. Michael Corstar Holdings, Inc. 8 Page 9 of 9 Pages EXHIBIT B Joint Filing Agreement In accordance with Rule 13d-1(k) under the Securities and Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of a and further agree that this Joint Filing Agreement be included as Exhibit to such joint filings. In evidence thereof, the undersigned, being duly authorized, have executed this Joint Filing Agreement this 9th day of February 2024. CORSTAR HOLDINGS, INC. By: /s Jeffrey J. Michael Name: Jeffrey J. Michael Its: President & CEO By: /s/ Jeffrey J. Michael Jeffrey J. Michael 9

View Full Filing

View this SC 13G/A filing on SEC EDGAR