Combs Michael G

Insider trading profile for Combs Michael G at Corvel Corp (CRVL) -- 275 total transactions, all sell/derivative-related, 0 reported acquisitions. The activity spans from 2015-05-07 through 2026-06-12, representing 11 years of continuous selling. Total sell volume: 221,130 shares. Total buy volume: 0 shares. Transaction composition: The June 2026 cluster (2026-06-12: 500 shares at $60.79; 2026-06-08: 7,000 shares at $60.22) shows continued offloading at levels near the $60 range, the stock's current trading band. The January 2026 cluster on 2026-01-05 is heavily derivative-heavy: multiple M (market) and F (fee) transactions with mixed small sizes at $34-$68 range -- consistent with restricted stock vesting and tax-withholding events. A 2025-09-30 acquisition (A code, 44 shares at $73.55) and 2025-03-31 cluster (A code, 30 shares each at $106.37) appear to be fractional RSU vesting events, not discretionary buys. The 2025-06-03 S code (2,816 shares at $112.36) was a meaningful open-market sale. 2025-01-06 shows two M transactions at $39.83 and $34.44 -- likely tax-loss harvesting or exercise-related. Bearish read -- 11 consecutive years of net selling with no discretionary buy activity. The RSU vesting/withholding events (A code fractional shares) do not constitute insider confidence signals. The continuous sell pattern suggests a high-net-worth insider systematically reducing economic exposure, either through diversification, estate planning, or declining confidence in CRVL's growth trajectory. Corvel is a specialty claims-management and medical-review firm; sustained insider offloading at consistent levels across multiple price regimes ($34-$170 range) suggests this is structural rather than price-timing motivated.