CRA International CFO granted new RSU awards

CRA International’s CFO received small RSU grants with future vesting schedules and continues to hold 129 common shares directly.

Rhea-AI Filing Summary

CRA INTERNATIONAL, INC. (symbol: CRAI) is the issuer of record for a Form 4 filing submitted to the SEC. Nierenberg Eric reported acquisition or exercise transactions in this Form 4 filing.

CRA INTERNATIONAL, INC. (CRAI) reported that EVP, CFO and Treasurer Eric Nierenberg received two grants of restricted stock units (RSUs) on September 14, 2026. One grant covers 1.9165 RSUs that vest in three equal annual installments beginning August 4, 2027, and another covers 3.1405 RSUs that vest in four equal annual installments beginning April 9, 2027. These RSUs include dividend equivalent rights that accrue as additional RSUs, and Nierenberg now directly holds 129 shares of CRAI common stock.

Insider Trade Summary

Grant/Award: 5.057 shares

Grant/Award 3 txns

Insider Nierenberg Eric

Role EVP, CFO AND TREASURER

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units F1, F2	1.9165	$0.00	$0.00
Grant/Award	Restricted Stock Units F1, F3	3.1405	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 1,477.5426 contracts (Direct); Common Stock — 129 shares (Direct)

Footnotes (3)

1. 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.
2. F2. The RSUs, which include an aggregate of 8.9511 Dividend Units, vest in three equal annual installments beginning on August 4, 2027.
3. F3. The RSUs, which include an aggregate of 6.5915 Dividend Units, vest in four equal annual installments beginning on April 9, 2027.

Key Figures

RSU grant 1: 1.9165 RSUs RSU grant 2: 3.1405 RSUs Dividend Units in first RSU grant: 8.9511 Dividend Units +2 more

5 metrics

RSU grant 1 1.9165 RSUs Restricted Stock Units granted on September 14, 2026, vesting in three equal annual installments beginning August 4, 2027

RSU grant 2 3.1405 RSUs Restricted Stock Units granted on September 14, 2026, vesting in four equal annual installments beginning April 9, 2027

Dividend Units in first RSU grant 8.9511 Dividend Units Aggregate Dividend Units included in RSUs vesting over three years beginning August 4, 2027

Dividend Units in second RSU grant 6.5915 Dividend Units Aggregate Dividend Units included in RSUs vesting over four years beginning April 9, 2027

Common stock held 129 shares Direct CRAI common stock holdings after transactions as of September 14, 2026

Key Terms

Restricted Stock Units, Dividend Units, dividend equivalent rights, withholding taxes

4 terms

Restricted Stock Units financial

"Each restricted stock unit ("RSU") represents a contingent right to receive"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Dividend Units financial

"additional RSUs ("Dividend Units") when and as dividends are paid"

dividend equivalent rights financial

"Dividend equivalent rights accrue with respect to unvested RSUs"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

withholding taxes financial

"delivered to the reporting person as soon as possible after vesting, subject to the collection of withholding taxes"

Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider equity awards did CRAI’s CFO receive in this Form 4?

EVP, CFO and Treasurer Eric Nierenberg received two restricted stock unit (RSU) grants on September 14, 2026: 1.9165 RSUs vesting over three years starting August 4, 2027, and 3.1405 RSUs vesting over four years starting April 9, 2027.

How do the RSUs reported by CRAI for Eric Nierenberg vest?

One RSU grant, including 8.9511 Dividend Units, vests in three equal annual installments beginning August 4, 2027. The other, including 6.5915 Dividend Units, vests in four equal annual installments beginning April 9, 2027.

What do the CRAI RSUs entitle Eric Nierenberg to receive?

Each CRAI RSU represents a contingent right to receive one share of common stock. Upon vesting, RSUs may be settled in cash, shares, or a combination, with shares delivered no later than two and a half months after the end of the year in which vesting occurs, subject to withholding taxes.

What are Dividend Units in CRAI’s RSU awards to the CFO?

When CRAI pays dividends on its common stock, dividend equivalent rights accrue on unvested RSUs as additional RSUs called Dividend Units. These Dividend Units vest on the same dates and in the same relative proportions as the underlying RSUs.

How many CRAI common shares does Eric Nierenberg hold after these RSU grants?

After the reported RSU grants, Eric Nierenberg directly holds 129 shares of CRA INTERNATIONAL, INC. common stock, as shown in the Form 4 holding entry dated September 14, 2026.

Were the CRAI CFO’s RSU transactions under a Rule 10b5-1 trading plan?

No. The Form 4 indicates no Rule 10b5-1 trading plan applies to these transactions, so the RSU grants are not reported as being made under an affirmed pre-arranged trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/16/2026 - 04:59 PM Accepted by SEC EDGAR 09/16/2026 - 04:58 PM Learn about SEC filing dates

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).

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 MASSACHUSETTS 02116

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/14/2026

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

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

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

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								129	D

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)	09/14/2026		A		1.9165		(2)	(2)	Common Stock	1.9165	$0	559.9511	D
Restricted Stock Units	(1)	09/14/2026		A		3.1405		(3)	(3)	Common Stock	3.1405	$0	917.5915	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 8.9511 Dividend Units, vest in three equal annual installments beginning on August 4, 2027.

3. The RSUs, which include an aggregate of 6.5915 Dividend Units, vest in four equal annual installments beginning on April 9, 2027.

	Delia J. Makhlouta, by power of attorney	09/16/2026
	** 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.
* Form 4: SEC 1474 (03-26)