Maleh Paul A 4
4 · CRA INTERNATIONAL, INC. · Filed Apr 14, 2026
Research Summary
AI-generated summary of this filing
CRAI CEO Paul Maleh Exercises RSUs, Sells Shares for Taxes
What Happened
Paul A. Maleh, President, CEO and a director of CRA International, converted a total of 4,295.230 RSUs into common shares (two conversion events on 2026-04-11). Of those shares, 2,004 shares were withheld to satisfy tax withholding ($328,255) and 152.230 shares were surrendered to the issuer ($24,935) at $163.80 per share. The combined value of shares surrendered/withheld was $353,190. Net shares delivered to Maleh after withholding/surrender: 2,139.000 shares.
Key Details
- Transaction date: April 11, 2026; Form 4 filed April 14, 2026 (timely filing).
- Conversion: 1,559.259 and 2,735.971 RSUs converted (total 4,295.230).
- Withholding/surrenders: 728 + 1,276 = 2,004 shares withheld for taxes (F) and 55.259 + 96.971 = 152.230 shares surrendered to issuer (D).
- Price used for withholding/surrender: $163.80 per share. Total value surrendered/withheld = $353,190.
- Shares owned after the transaction: not disclosed in the provided excerpt of the filing.
- Footnotes: RSUs represent contingent rights to receive common stock; vesting schedules and dividend-equivalent units are described in the filing (see footnotes F1–F8). The transactions reflect RSU conversions and standard tax-withholding/net-settlement mechanics, not open-market sales.
Context
- These entries (transaction code M) reflect conversion/settlement of restricted stock units rather than an open-market sale by the insider. The F code indicates shares were retained/surrendered to pay required taxes (a common practice).
- Because the shares were withheld/surrendered to the issuer for taxes/consideration, this is routine compensation settlement activity and not necessarily a market sentiment signal.
Insider Transaction Report
Form 4
Maleh Paul A
DirectorPRESIDENT AND CEO
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-04-11+1,559.259→ 116,672.259 total - Disposition to Issuer
Common Stock
2026-04-11$163.80/sh−55.259$9,051→ 116,617 total - Tax Payment
Common Stock
2026-04-11$163.80/sh−728$119,246→ 115,889 total - Exercise/Conversion
Common Stock
[F1]2026-04-11+2,735.971→ 118,624.971 total - Disposition to Issuer
Common Stock
2026-04-11$163.80/sh−96.971$15,884→ 118,528 total - Tax Payment
Common Stock
2026-04-11$163.80/sh−1,276$209,009→ 117,252 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-04-11−1,559.259→ 1,559.259 total→ Common Stock (3,118.517 underlying) - Exercise/Conversion
Restricted Stock Units
[F1][F3]2026-04-11−2,735.971→ 2,737.012 total→ Common Stock (5,472.983 underlying)
Holdings
- 4,343.23
Restricted Stock Units
[F1][F4]→ Common Stock (4,343.23 underlying) - 4,443.302
Restricted Stock Units
[F1][F5]→ Common Stock (4,443.302 underlying) - 5,385.845
Restricted Stock Units
[F1][F6]→ Common Stock (5,385.845 underlying) - 6,800
Restricted Stock Units
[F1][F7]→ Common Stock (6,800 underlying) - 16,304
Nonqualified Stock Option (right to buy)
[F8]Exercise: $44.87From: 2017-12-18Exp: 2027-12-18→ Common Stock (16,304 underlying) - 15,173
Nonqualified Stock Option (right to buy)
[F8]Exercise: $47.45From: 2018-12-06Exp: 2028-12-06→ Common Stock (15,173 underlying)
Footnotes (8)
- [F1]Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock; vested RSUs are payable in the form of cash, shares of the Issuer's common stock or a combination thereof, except as otherwise indicated below. To the extent vested RSUs are paid in shares of the Issuer's common stock, such shares will be delivered to the reporting person as soon as possible after vesting, but in no event later than two and one-half months after the end of the year in which vesting occurs, subject to the collection of withholding taxes. Dividend equivalent rights accrue with respect to unvested RSUs in the form of additional RSUs ("Dividend Units") when and as dividends are paid on the Issuer's common stock, and Dividend Units vest on the same dates and in the same relative proportions as the RSUs on which they accrue.
- [F2]The RSUs, which include an aggregate of 55.2585 Dividend Units, vest on April 11, 2027.
- [F3]The RSUs, which include an aggregate of 97.0119 Dividend Units, vest on April 11, 2027.
- [F4]The RSUs, which include an aggregate of 94.2295 Dividend Units, vest in three equal annual installments beginning on April 29, 2026.
- [F5]The RSUs, which include an aggregate of 51.3020 Dividend Units, vest in four equal annual installments beginning on May 20, 2026.
- [F6]The RSUs, which include an aggregate of 116.8453 Dividend Units, vest in two equal annual installments beginning on April 29, 2027.
- [F7]The RSUs vest in four equal annual installments beginning on April 9, 2027.
- [F8]Date indicated is date of grant. Option vests in four equal annual installments beginning on the first anniversary of the date of grant.
Signature
Delia J. Makhlouta, by power of attorney|2026-04-14