Maleh Paul A 4

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.