CRA International (CRAI) officer reports restricted stock unit acquisition

Rhea-AI Filing Summary

CRA International, Inc. reported that its executive vice president, chief financial officer and treasurer acquired restricted stock units (RSUs) on December 12, 2025. The RSUs carry an exercise price of $0, and following this transaction the officer beneficially owns 737.9104 RSUs tied to the company’s common stock.

Each RSU represents a contingent right to receive one share of common stock, payable in cash, shares, or a combination after vesting and tax withholding. The RSUs, which include 3.9104 dividend-equivalent units, are scheduled to vest in four equal annual installments beginning on August 4, 2026, with dividend equivalents accruing as additional RSUs and vesting on the same schedule.

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

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

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^*

Nierenberg Eric

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, CFO AND TREASURER

3. Date of Earliest Transaction (Month/Day/Year)
12/12/2025

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

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
Restricted Stock Units	(1)	12/12/2025		A		2.0954		(2)	(2)	Common Stock	2.0954	$0	737.9104	D

Explanation of Responses:

1. 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.

2. The RSUs, which include an aggregate of 3.9104 Dividend Units, vest in four equal annual installments beginning on August 4, 2026.

	Delia J. Makhlouta, by power of attorney	12/16/2025
	** 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).
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FAQ

What insider equity award did CRA International (CRAI) report for its officer?

The company reported that its executive vice president, chief financial officer and treasurer acquired restricted stock units (RSUs) tied to CRA International common stock on December 12, 2025 at an exercise price of $0.

How many CRA International RSUs does the officer own after this transaction?

After the reported transaction, the officer beneficially owns 737.9104 restricted stock units linked to CRA International common stock.

When do the CRA International (CRAI) RSUs begin vesting and over what schedule?

The restricted stock units, including dividend-equivalent units, are scheduled to vest in four equal annual installments beginning on August 4, 2026.

What does each CRA International RSU represent for the reporting officer?

Each RSU represents a contingent right to receive one share of CRA International common stock, payable in cash, shares, or a combination after vesting and satisfaction of withholding tax obligations.

How are dividend equivalents handled on CRA International RSUs?

Dividend equivalent rights accrue on unvested RSUs as additional RSUs called Dividend Units. For this award, the RSUs include an aggregate of 3.9104 Dividend Units, which vest on the same dates and in the same proportions as the underlying RSUs.

Is there a cash exercise price for the CRA International RSUs reported?

The reported restricted stock units have an exercise price of $0, meaning no cash payment is required to receive shares upon vesting, apart from applicable tax withholding.