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

Rhea-AI Filing Summary

Jonathan D. Yellin, EVP and General Counsel of CRA International, Inc. (CRAI), reported insider sales executed on August 20, 2025, under a previously adopted Rule 10b5-1 trading plan. The Form 4 shows three non-derivative sale transactions: 235 shares at a weighted average price of $186.4189, 996 shares at $187.2999, and 519 shares at $188.1333. After those sales the reporting person’s beneficial ownership is reported as 18,838 shares, then 17,842 shares, and finally 17,323 shares respectively. The filing notes the 10b5-1 plan was adopted on August 8, 2024, and the Form 4 was signed by a power of attorney on August 22, 2025.

Positive

• Sales executed under a Rule 10b5-1 plan, indicating pre-specified trading instructions adopted on August 8, 2024
• Reporting includes weighted-average prices and price ranges, with the filer offering to provide per-trade details on request
• Reporting person retains beneficial ownership after sales (reported as 17,323 shares following the final transaction)

Negative

• Insider dispositions totaling 1,750 shares were reported on August 20, 2025 (235 + 996 + 519 shares)
• Shares were sold at prices between $185.7250 and $190.27 across the disclosed transactions, reducing the reporting person’s holdings

Insights

Financial Analyst

TL;DR: Insider sales of 1,750 shares occurred under a pre-established 10b5-1 plan; remaining holdings stay in the mid-teens of thousands of shares.

The transaction schedule reports three dispositions totaling 1,750 common shares executed on August 20, 2025, at weighted-average prices between $186.42 and $188.13. These sales were effected pursuant to a Rule 10b5-1 trading plan adopted August 8, 2024, which generally indicates pre-arranged timing and reduces concerns about opportunistic trading. The filing documents the step-down in beneficial ownership to 17,323 shares after the final reported sale. No derivative transactions or other compensatory grants are reported.

Corporate Governance Expert

TL;DR: Transactions were conducted under an established 10b5-1 plan and the Form 4 includes required explanatory disclosures and POA signature.

The Form 4 clearly states the transactions were made pursuant to a Rule 10b5-1 plan adopted August 8, 2024, and provides weighted-average prices with ranges for each grouped disposal. The reporting person used a power of attorney to sign the filing on August 22, 2025, which is properly disclosed. There are no indications in the filing of unusual derivative activity or other governance issues; the disclosure appears procedurally complete based on the content provided.

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^*

Yellin Jonathan D

(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 AND GENERAL COUNSEL

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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	08/20/2025		S		235	D	$186.4189(1)	18,838	D(2)
Common Stock	08/20/2025		S		996	D	$187.2999(3)	17,842	D(2)
Common Stock	08/20/2025		S		519	D	$188.1333(4)	17,323	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 in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $185.7250 to $186.68, 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.

2. These transactions were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 8, 2024.

3. The price in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $186.71 to $187.65, 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.

4. The price in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $187.74 to $190.27, 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.

	Delia J. Makhlouta, by power of attorney	08/22/2025
	** 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 insider transactions did CRAI EVP Jonathan D. Yellin report on Form 4?

He reported three sales on 08/20/2025: 235 shares at a weighted average $186.4189, 996 shares at $187.2999, and 519 shares at $188.1333.

Were the CRAI sales part of a prearranged trading plan?

Yes. The Form 4 states the transactions were effected pursuant to a Rule 10b5-1 trading plan adopted on August 8, 2024.

How many shares did the reporting person own after the reported sales?

Beneficial ownership was reported as 18,838 shares, then 17,842 shares, and finally 17,323 shares following each reported sale line.

Who signed the Form 4 filing for Jonathan D. Yellin?

The filing was signed by Delia J. Makhlouta by power of attorney on August 22, 2025.

Does the Form 4 report any derivative transactions for CRAI?

No. Table II (derivative securities) contains no reported transactions in the provided content.