CRA International (CRAI) CEO granted new RSUs and holds sizable options

Rhea-AI Filing Summary

CRA International, Inc. director and President and CEO Paul A. Maleh reported multiple awards of restricted stock units (RSUs) on 2026-03-20. Each RSU represents a contingent right to receive one share of common stock, payable in cash, stock, or a mix after vesting and tax withholding.

The RSU grants, which include associated dividend equivalent units, vest in equal annual installments beginning on April 11, 2026, April 29, 2026, April 29, 2027, and May 20, 2026, with schedules ranging from two to four years. Following these awards, Maleh holds 115,113 shares of common stock directly, plus nonqualified stock options covering 16,304 shares at an exercise price of $44.8700 expiring on December 18, 2027 and 15,173 shares at $47.4500 expiring on December 6, 2028.

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

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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^*

Maleh Paul A

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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								115,113	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)	03/20/2026		A		11.1802		(2)	(2)	Common Stock	11.1802	$0	3,118.517	D
Restricted Stock Units	(1)	03/20/2026		A		19.6213		(3)	(3)	Common Stock	19.6213	$0	5,472.9833	D
Restricted Stock Units	(1)	03/20/2026		A		15.571		(4)	(4)	Common Stock	15.571	$0	4,343.2295	D
Restricted Stock Units	(1)	03/20/2026		A		19.3089		(5)	(5)	Common Stock	19.3089	$0	5,385.8453	D
Restricted Stock Units	(1)	03/20/2026		A		15.93		(6)	(6)	Common Stock	15.93	$0	4,443.302	D
Nonqualified Stock Option (right to buy)	$44.87							12/18/2017(7)	12/18/2027	Common Stock	16,304		16,304	D
Nonqualified Stock Option (right to buy)	$47.45							12/06/2018(7)	12/06/2028	Common Stock	15,173		15,173	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 110.5170 Dividend Units, vest in two equal annual installments beginning on April 11, 2026.

3. The RSUs, which include an aggregate of 193.9833 Dividend Units, vest in two equal annual installments beginning on April 11, 2026.

4. The RSUs, which include an aggregate of 94.2295 Dividend Units, vest in three equal annual installments beginning on April 29, 2026.

5. The RSUs, which include an aggregate of 116.8453 Dividend Units, vest in two equal annual installments beginning on April 29, 2027.

6. The RSUs, which include an aggregate of 51.3020 Dividend Units, vest in four equal annual installments beginning on May 20, 2026.

7. Date indicated is date of grant. Option vests in four equal annual installments beginning on the first anniversary of the date of grant.

	Delia J. Makhlouta, by power of attorney	03/24/2026
	** 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.
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* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did CRAI CEO Paul A. Maleh report on this Form 4?

Paul A. Maleh reported several restricted stock unit (RSU) awards on CRA International common stock. These RSUs are compensation grants, not open-market purchases or sales, and give him contingent rights to receive shares or cash after they vest and taxes are withheld.

How do Paul A. Maleh’s new RSUs at CRAI vest over time?

The reported RSUs, including their dividend equivalent units, vest in equal annual installments starting on April 11, 2026, April 29, 2026, April 29, 2027, and May 20, 2026. The vesting schedules span two to four years, depending on each specific RSU grant.

How many CRA International common shares does Paul A. Maleh hold after these RSU grants?

After the reported RSU awards, Paul A. Maleh directly holds 115,113 shares of CRA International common stock. This figure reflects his direct ownership position and does not include the potential shares underlying unexercised stock options or unvested RSUs reported in the filing.

What stock options for CRAI common stock does Paul A. Maleh currently have?

He holds nonqualified stock options on 16,304 shares at an exercise price of $44.8700, expiring December 18, 2027, and options on 15,173 shares at $47.4500, expiring December 6, 2028. These options give rights to buy shares at the stated prices before expiration.

Do the CRAI RSU awards to Paul A. Maleh include dividend equivalent units?

Yes. The filing states that dividend equivalent rights accrue on unvested RSUs as additional RSUs, called Dividend Units, when dividends are paid. These Dividend Units vest on the same dates and in the same proportions as the underlying RSUs on which they accrue.

Are Paul A. Maleh’s reported RSU transactions open-market buys or sells of CRAI stock?

No. The Form 4 shows grant or award acquisitions of RSUs coded as "A", which are compensation-related awards. There are no open-market purchase or sale codes reported, and the transaction summary shows zero buy and zero sell transactions for common stock.