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CRA INTERNATIONAL, INC.·4

May 22, 5:53 PM ET

Maleh Paul A 4

4 · CRA INTERNATIONAL, INC. · Filed May 22, 2026

Research Summary

AI-generated summary of this filing

Updated

CRAI President & CEO Paul Maleh Exercises RSUs, Sells/Withholds Shares

What Happened

  • Paul A. Maleh, President and CEO of CRA International, converted/settled 1,110.826 restricted stock units (RSUs) into common shares on May 20, 2026. The settlement price used in withholding/sales was $148.01 per share.
  • Of the 1,110.826 shares issued on conversion, 531 shares were delivered to the issuer to satisfy tax withholding (value: $78,593) and 12.826 shares were disposed to the issuer/sold at $148.01 (proceeds: $1,898). Net to Maleh: 567.000 shares (approx. $83,922 at $148.01).
  • This was an RSU/derivative conversion with share withholding to cover tax obligations (a routine, non-open-market disposition), not an open-market sale or new cash purchase.

Key Details

  • Transaction date: May 20, 2026; Filing date: May 22, 2026 (timely filing).
  • Prices and values: withholding/sale price $148.01/share; 12.826 shares sold for $1,898; 531 shares withheld for taxes equal to $78,593; net retained 567 shares (~$83,922 at $148.01).
  • Transaction codes: M = exercise/conversion of derivative (RSU settlement); D = disposition to issuer (sale/withholding); F = payment of tax liability via share delivery.
  • Shares owned after transaction: Not specified in the supplied filing excerpt.
  • Footnote context: These were restricted stock units (RSUs). Footnotes note RSU mechanics (F1) and various vesting schedules for grants (some vesting in 2027 under multiple schedules, see F2–F7).

Context

  • This appears to be a standard RSU vesting/settlement with share withholding to satisfy tax obligations (a cashless-type settlement). Such withholding/sales to cover taxes are routine and do not necessarily signal a change in insider sentiment.
  • For retail investors: this is not an open-market sale; Maleh ended up with a net increase of 567 shares following the conversion and withholding.

Insider Transaction Report

Form 4
Period: 2026-05-20
CRA INTERNATIONAL, INC.CRAI
Maleh Paul A
DirectorPRESIDENT AND CEO
Transactions
  • Exercise/Conversion

    Common Stock

    [F1]
    2026-05-20+1,110.826→ 119,093.826 total
  • Disposition to Issuer

    Common Stock

    2026-05-20$148.01/sh−12.826$1,898→ 119,081 total
  • Tax Payment

    Common Stock

    2026-05-20$148.01/sh−531$78,593→ 118,550 total
  • Exercise/Conversion

    Restricted Stock Units

    [F1][F2]
    2026-05-20−1,110.826→ 3,332.477 total
    → Common Stock (4,443.302 underlying)
Holdings

  • Restricted Stock Units

    [F1][F3]
    → Common Stock (6,800 underlying)
    6,800

  • Restricted Stock Units

    [F1][F4]
    → Common Stock (2,737.012 underlying)
    2,737.012

  • Restricted Stock Units

    [F1][F5]
    → Common Stock (1,559.259 underlying)
    1,559.259

  • Restricted Stock Units

    [F1][F6]
    → Common Stock (2,895.827 underlying)
    2,895.827

  • Restricted Stock Units

    [F1][F7]
    → Common Stock (5,385.845 underlying)
    5,385.845

  • Nonqualified Stock Option (right to buy)

    [F8]
    Exercise: $44.87From: 2017-12-18Exp: 2027-12-18→ Common Stock (16,304 underlying)
    16,304

  • Nonqualified Stock Option (right to buy)

    [F8]
    Exercise: $47.45From: 2018-12-06Exp: 2028-12-06→ Common Stock (15,173 underlying)
    15,173
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 38.4765 Dividend Units, vest in three equal annual installments beginning on May 20, 2027.
  • [F3]The RSUs vest in four equal annual installments beginning on April 9, 2027.
  • [F4]The RSUs, which include an aggregate of 97.0119 Dividend Units, vest on April 11, 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 62.8270 Dividend Units, vest in two equal annual installments beginning on April 29, 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|2026-05-22

Documents

1 file
  • 4
    form4-05222026_090515.xmlPrimary