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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO 5)*
CORVEL CORPORATION
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(NAME OF ISSUER)
COMMON STOCK
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(TITLE OF CLASS OF SECURITIES)
34956C106
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(CUSIP NUMBER)
Check the following box if a fee is being paid with this statement. (A
fee is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
(Page 1 of 4 Pages)
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CUCIP NO. 34956C106 13G Page 2 of 4 Pages
1 NAME OF REPORTING PERSON: V. Gordon Clemons
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: ###-##-####
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP*
/ / (a) / /(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION: USA
NUMBER OF 5 SOLE VOTING POWER: 393,717
SHARES
BENEFICIALLY 6 SHARED VOTING POWER:
OWNED BY
EACH 7 SOLE DISPOSITIVE POWER: 393,717
REPORTING
PERSON 8 SHARED DISPOSITIVE POWER:
WITH
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 393,717
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES
CERTAIN SHARES * / /
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9: 9.5%
12 TYPE OF REPORTING PERSON* IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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ITEM 1(a). NAME OF ISSUER.
CorVel Corporation (the "Issuer").
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
CorVel Corporation
2010 Main Street, Suite 1020
Irvine, CA 92614
ITEM 2(a). NAME OF PERSON FILING.
V. Gordon Clemons ("Clemons")
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE RESIDENCE.
c/o CorVel Corporation
2010 Main Street, Suite 1020
Irvine, CA 92614
ITEM 2(c). CITIZENSHIP.
United States of America
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock
ITEM 2(e). CUSIP NUMBER.
34956C106
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR
13d-2(b), CHECK WHETHER THE PERSON FILING IS A:
Not applicable.
ITEM 4. OWNERSHIP.
(a) As of December 31, 1997 Clemons beneficially owns
393,717 shares of Common Stock of the Issuer,
including 332,692 shares owned directly, 1,025 shares
owned indirectly by Clemons as custodian for his
child who shares the same primary residence, and
60,000 shares issuable upon the exercise of options
which are exercisable immediately.
(b) Clemons' beneficial ownership of 393,717 shares of
Common Stock of the Issuer represents 9.5% of the
Issuer's outstanding Common Stock.
(c) Clemons has sole voting and investment power with
respect to all 393,717 shares.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not applicable.
(Page 3 of 4 Pages)
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ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY.
Not applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
ITEM 10. CERTIFICATION.
Not applicable.
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: 2/13/98
By: /s/ V. Gordon Clemons
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V. Gordon Clemons
(Page 4 of 4 Pages)
