Darrah Ryan 4
4 · FORRESTER RESEARCH, INC. · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
Forrester (FORR) Chief Legal Officer Converts RSUs, Receives Award
What Happened
Darrah Ryan, Chief Legal Officer of Forrester Research, had restricted stock units (RSUs) vest on April 1, 2026. A total of 18,636 RSUs converted into common shares (three conversion entries). To satisfy tax withholding on the vesting, 3,641 shares were withheld by the issuer at $5.39 per share (tax withholding value $19,625). Separately, Ryan was granted 25,000 new RSUs on April 1, 2026 that vest in future installments.
Key Details
- Transaction date: April 1, 2026 (filed April 2, 2026) — filing was timely (next business day).
- Conversions (code M): 9,318 + 3,901 + 5,417 = 18,636 RSUs converted into common stock (reported with $0 exercise price because these are RSUs, not options).
- Tax withholding (code F): 3,641 shares withheld at $5.39/share = $19,625 to satisfy taxes.
- Grant (code A): 25,000 RSUs awarded on April 1, 2026. Vesting schedule: four equal annual installments beginning April 1, 2027 (per footnote).
- Net common shares received from vesting: 18,636 converted − 3,641 withheld = 14,995 net shares issued to the insider.
- Footnotes: confirm these are RSUs (each converts to one share on vesting) and that share withholding was used to satisfy tax obligations.
- Shares owned after transaction: Not explicitly stated in the filing; filing shows conversions, withholding, and a new RSU grant.
Context
RSU conversions are not purchases — they represent compensation vesting into shares. The withholding of 3,641 shares is a routine, issuer-handled tax withholding (not an open-market sale). The new 25,000 RSU grant is a standard equity award that vests over four installments starting on the first anniversary of the grant. This activity reflects compensation vesting and a new award rather than a discretionary buy or sell that would signal a direct trading view.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-04-01−9,318→ 35,885 total - Tax Payment
Common Stock
[F2]2026-04-01$5.39/sh−3,641$19,625→ 32,244 total - Exercise/Conversion
Restricted Stock Units
[F3][F4]2026-04-01−3,901→ 7,800 totalExercise: $0.00→ Common Stock (3,901 underlying) - Exercise/Conversion
Restricted Stock Units
[F3][F5]2026-04-01−5,417→ 17,916 totalExercise: $0.00→ Common Stock (5,417 underlying) - Award
Restricted Stock Units
[F3][F6]2026-04-01+25,000→ 25,000 totalExercise: $0.00→ Common Stock (25,000 underlying)
Footnotes (6)
- [F1]Represents the conversion, upon vesting, of restricted stock units into common stock.
- [F2]Represents shares withheld by the Issuer to satisfy tax withholding obligations upon the vesting on April 1, 2026 of the restricted stock units awarded to the reporting person on April 1, 2024 and April 1, 2025. The awards include a provision for the withholding of shares by the Issuer to satisfy withholding taxes due as a result of the vesting of the awards.
- [F3]Each Restricted Stock Unit represents the right to receive, following vesting, one share of Forrester Research, Inc. common stock.
- [F4]On April 1, 2024, the reporting person was granted 15,602 Restricted Stock Units that vest and convert into common stock in four equal and consecutive installments beginning on the first anniversary of the grant date.
- [F5]On April 1, 2025, the reporting person was granted 23,333 Restricted Stock Units that vest and convert into common stock in four equal and consecutive installments beginning on the first anniversary of the grant date.
- [F6]On April 1, 2026, the reporting person was granted 25,000 Restricted Stock Units that vest and convert into common stock in four equal and consecutive installments beginning on the first anniversary of the grant date.