[Form 4] CRA International, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Paul A. Maleh, President and CEO and a director of CRA International, Inc. (CRAI), reported multiple sales of company common stock executed on 08/14/2025 pursuant to a Rule 10b5-1 trading plan adopted on December 10, 2024. The transactions total 7,500 shares sold across six groups of trades with reported weighted-average prices ranging from approximately $185.42 to $190.88 and documented price ranges for each group. After these dispositions the reporting person beneficially owns 124,045 shares according to the form. The Form 4 was signed by a power of attorney on 08/18/2025.

Positive

• Transactions executed under a Rule 10b5-1 trading plan, indicating pre-arranged, non-discretionary sales
• Detailed pricing disclosure including weighted-average prices and explicit price ranges for each tranche
• Form filed and signed (by power of attorney), demonstrating Section 16 reporting compliance

Negative

• Reporting person disposed of 7,500 shares, reducing insider beneficial ownership to 124,045 shares
• Concentration of sales on a single date (08/14/2025), which may attract investor attention even though executed under a plan

Insights

Securities Analyst

TL;DR: Insider sales of 7,500 shares were executed under a pre-established 10b5-1 plan; disclosures show transparent weighted-average pricing.

The Form 4 shows structured sales on a single day that were executed under a documented Rule 10b5-1 plan adopted December 10, 2024. The filing lists weighted-average prices and published price ranges for each tranche, which facilitates verification of execution prices if requested. The remaining beneficial ownership is reported as 124,045 shares. Based solely on the form's content, these are planned disposals rather than ad hoc trades.

Corporate Governance Expert

TL;DR: Reporting complies with Section 16 reporting and invokes the affirmative defense of a 10b5-1 trading plan.

The filing indicates procedural compliance: the reporting person checked the box signaling transactions were made pursuant to a contract, instruction or written plan intended to meet Rule 10b5-1(c) conditions. The report provides weighted-average prices and offers to supply breakdowns on request, and it was signed via power of attorney, which is documented on the form. The disclosure allows stakeholders to confirm form and timing adherence.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Maleh Paul A

(Last) (First) (Middle)

200 CLARENDON STREET

(Street)

BOSTON MA 02116

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CRA INTERNATIONAL, INC. [ CRAI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRESIDENT AND CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/14/2025		S		3,462	D	$185.424(1)	128,083	D(2)
Common Stock	08/14/2025		S		1,603	D	$186.5866(3)	126,480	D(2)
Common Stock	08/14/2025		S		200	D	$186.9726(4)	126,280	D(2)
Common Stock	08/14/2025		S		763	D	$188.4256(5)	125,517	D(2)
Common Stock	08/14/2025		S		1,110	D	$189.7169(6)	124,407	D(2)
Common Stock	08/14/2025		S		362	D	$190.88(7)	124,045	D(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $184.91 to $185.87, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

2. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 10, 2024.

3. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $185.92 to $186.83, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $186.93 to $187.35, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

5. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $188.33 to $188.9675, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

6. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $189.35 to $190.10, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

7. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $190.5675 to $191.5025, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

	Delia J. Makhlouta, by power of attorney	08/18/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did CRAI insider Paul A. Maleh report selling on Form 4?

The filing reports that Paul A. Maleh sold a total of 7,500 shares of CRA International common stock on 08/14/2025.

Were the CRAI sales part of a Rule 10b5-1 plan?

Yes. The Form 4 indicates the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on December 10, 2024.

What prices were reported for the CRAI insider sales?

Weighted-average prices for the tranches are reported between approximately $185.42 and $190.88, with disclosed price ranges for each tranche in the filing.

How many CRAI shares does the reporting person beneficially own after the transactions?

Following the reported transactions the Form 4 states the reporting person beneficially owns 124,045 shares.

Who signed the Form 4 for the reporting person?

The Form 4 was signed by Delia J. Makhlouta by power of attorney on 08/18/2025.

Does the Form 4 provide breakdowns of shares sold at individual prices?

The filing states weighted-average prices were used and the reporting person will provide full information regarding the number of shares sold at each separate price upon request.