Maleh Paul A 4

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.