Maleh Paul A 4

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.