CRA International (CRAI) CFO receives new RSU dividend awards

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Nierenberg Eric reported acquisition or exercise transactions in this Form 4 filing.

CRA International EVP, CFO and Treasurer Eric Nierenberg reported routine equity compensation in the form of restricted stock units. On June 12, 2026, he was granted 3.4510 restricted stock units and a separate grant of 2.8054 restricted stock units, each representing a contingent right to receive one share of common stock.

The footnotes explain that these RSUs, including associated Dividend Units, vest in four equal annual installments beginning on August 4, 2026 and April 9, 2027, respectively. Vested RSUs are payable in cash, shares, or a combination, with dividend equivalent rights accruing as additional RSUs and vesting on the same schedule.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Nierenberg Eric

Role EVP, CFO AND TREASURER

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	2.805	$0.00	--
Grant/Award	Restricted Stock Units	3.451	$0.00	--

Holdings After Transaction: Restricted Stock Units — 743.371 shares (Direct, null)

Footnotes (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. The RSUs, which include an aggregate of 9.3708 Dividend Units, vest in four equal annual installments beginning on August 4, 2026. The RSUs, which include an aggregate of 3.4510 Dividend Units, vest in four equal annual installments beginning on April 9, 2027.

Key Figures

RSU grant 1: 3.4510 RSUs RSU grant 2: 2.8054 RSUs RSUs after grant (award 1): 914.4510 RSUs +3 more

6 metrics

RSU grant 1 3.4510 RSUs Grant on June 12, 2026; contingent rights to common stock

RSU grant 2 2.8054 RSUs Grant on June 12, 2026; contingent rights to common stock

RSUs after grant (award 1) 914.4510 RSUs Total units following one of the June 12, 2026 grants

RSUs after grant (award 2) 743.3708 RSUs Total units following the other June 12, 2026 grant

Vesting start date 1 August 4, 2026 RSUs including 9.3708 Dividend Units vest over four years

Vesting start date 2 April 9, 2027 RSUs including 3.4510 Dividend Units vest over four years

Key Terms

Restricted Stock Units, Dividend Units, dividend equivalent rights, withholding taxes, +1 more

5 terms

Restricted Stock Units financial

"Each restricted stock unit ("RSU") represents a contingent right to receive one share of the Issuer's common stock"

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

"Dividend equivalent rights accrue with respect to unvested RSUs in the form of additional RSUs ("Dividend Units")"

dividend equivalent rights financial

"Dividend equivalent rights accrue with respect to unvested RSUs in the form of additional 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

"shares will be delivered ... no event later than two and one-half months ... 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.

contingent right financial

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

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Form 4 Insider Transactions: What Each Field Means →

06/16/2026 - 06:04 PM

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)
06/12/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	06/12/2026		A		2.8054		⁽²⁾	⁽²⁾	Common Stock	2.8054	$0	743.3708	D
Restricted Stock Units	⁽¹⁾	06/12/2026		A		3.451		⁽³⁾	⁽³⁾	Common Stock	3.451	$0	914.451	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 9.3708 Dividend Units, vest in four equal annual installments beginning on August 4, 2026.

3. The RSUs, which include an aggregate of 3.4510 Dividend Units, vest in four equal annual installments beginning on April 9, 2027.

	Delia J. Makhlouta, by power of attorney	06/16/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did CRAI executive Eric Nierenberg report on this Form 4?

Eric Nierenberg reported grants of restricted stock units as equity compensation. On June 12, 2026, he acquired 3.4510 RSUs in one grant and 2.8054 RSUs in another, each linked to one share of CRA International common stock upon vesting.

Are Eric Nierenberg’s CRAI restricted stock unit transactions open-market purchases?

No, these transactions are not open-market purchases. The Form 4 shows RSU awards coded as grants with a zero dollar price per unit, indicating compensation-related acquisitions rather than buying CRA International shares on the open market.

What is the vesting schedule for Eric Nierenberg’s CRAI restricted stock units?

The RSUs vest in four equal annual installments. One RSU award, which includes 9.3708 Dividend Units, begins vesting on August 4, 2026. Another award, including 3.4510 Dividend Units, begins vesting on April 9, 2027, subject to the stated terms.

How many CRAI restricted stock units did Eric Nierenberg hold after these grants?

After the June 12, 2026 transactions, one RSU line shows 914.4510 units and another shows 743.3708 units following the respective grants. These figures reflect his reported RSU holdings for each award on the Form 4.

What are Dividend Units in the context of CRAI restricted stock units?

Dividend Units are additional restricted stock units that accrue when CRA International pays dividends. They are credited as RSUs on unvested awards and vest on the same dates and in the same relative proportions as the underlying RSUs that generated them.

How and when will Eric Nierenberg receive CRAI shares or cash from these RSUs?

Each RSU represents a contingent right to one share of common stock. Vested RSUs are settled in cash, shares, or both, with any shares delivered as soon as possible after vesting and no later than two and one-half months after the end of the year.