Meet the son…

June 28, 2006

In the preiimary proxy that CorVel Corp. (CRVL) filed recently, investors had a chance to meet the adult son of CEO V. Gordon Clemons for the first time, even though Junior — his name is V. Gordon Clemons Jr. — has been working for the company since 2001.

According to the filing, Junior was named vp for business development in March and made $120K last year, or about twice what he made just four years ago. Granted the amounts don’t seem like a lot of money on the surface, but based on the other people in the summary compensation chart, Junior’s salary would put him at No. 3, right below the director of finance and right above the CFO. There’s also the issue of why it took the company so long to disclose this to investors.

Though it doesn’t appear to be part of his job description, maybe Junior can help the company wrap up its delayed 10-K. Two weeks ago, the company said that it was unable to get its K in on time without "unreasonable effort or expense."

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