Maleh Paul A 4
4 · CRA INTERNATIONAL, INC. · Filed May 1, 2026
Research Summary
AI-generated summary of this filing
CRAI CEO Paul Maleh Exercises/Converts Derivatives, Sells Shares
What Happened
Paul A. Maleh, President and CEO of CRA International, converted/exercised 1,447.403 derivative units into common shares on April 29, 2026. To satisfy tax/withholding obligations and issuer requirements, he surrendered/disposed a total of 716.403 shares (685 shares valued at $154.55 each for $105,867 and 31.403 shares @ $154.55 for $4,853), for a combined value of about $110,720. The filings show the primary action as an exercise/conversion (code M) with related dispositions for tax withholding/payment (code F) and a disposition to the issuer (code D).
Key Details
- Transaction date: April 29, 2026. Report filed May 1, 2026 (appears timely).
- Exercise/conversion: 1,447.403 shares (derivative conversion/exercise, code M).
- Shares surrendered/disposed: 685 shares @ $154.55 = $105,867 (code F, tax withholding); 31.403 shares @ $154.55 = $4,853 (code D, disposition to issuer).
- Total value of shares surrendered/disposed ~ $110,720.
- Shares owned after the transaction: not disclosed in this filing.
- Footnotes indicate these were RSU-related (restricted stock units) and reference vesting schedules/dividend-equivalent units (see F1–F7). F1 notes vested RSUs may be paid in cash, shares, or a combination; other footnotes list vesting timetables.
Context
- This appears to be a routine conversion/vesting event with shares surrendered to cover taxes/withholding — commonly a cashless outcome of an RSU conversion or option exercise, not an open-market sale. Such transactions are standard compensation mechanics and do not necessarily signal insider sentiment.
- Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability; D = disposition to the issuer.
Insider Transaction Report
Form 4
Maleh Paul A
DirectorPRESIDENT AND CEO
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-04-29+1,447.403→ 118,699.403 total - Disposition to Issuer
Common Stock
2026-04-29$154.55/sh−31.403$4,853→ 118,668 total - Tax Payment
Common Stock
2026-04-29$154.55/sh−685$105,867→ 117,983 total - Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-04-29−1,447.403→ 2,895.827 total→ Common Stock (4,343.23 underlying)
Holdings
- 4,443.302
Restricted Stock Units
[F1][F3]→ Common Stock (4,443.302 underlying) - 6,800
Restricted Stock Units
[F1][F4]→ Common Stock (6,800 underlying) - 1,559.259
Restricted Stock Units
[F1][F5]→ Common Stock (1,559.259 underlying) - 2,737.012
Restricted Stock Units
[F1][F6]→ Common Stock (2,737.012 underlying) - 5,385.845
Restricted Stock Units
[F1][F7]→ Common Stock (5,385.845 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 62.8270 Dividend Units, vest in two equal annual installments beginning on April 29, 2027.
- [F3]The RSUs, which include an aggregate of 51.3020 Dividend Units, vest in four equal annual installments beginning on May 20, 2026.
- [F4]The RSUs vest in four equal annual installments beginning on April 9, 2027.
- [F5]The RSUs, which include an aggregate of 55.2585 Dividend Units, vest on April 11, 2027.
- [F6]The RSUs, which include an aggregate of 97.0119 Dividend Units, vest on April 11, 2027.
- [F7]The RSUs, which include an aggregate of 116.8453 Dividend Units, vest in two equal annual installments beginning on April 29, 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|2026-05-01