CRA International CFO exercises RSUs and withholds shares

CRA INTERNATIONAL, INC. executive Eric Nierenberg, EVP, CFO and Treasurer, reported several equity transactions on August 4, 2026.

Rhea-AI Filing Summary

CRA INTERNATIONAL, INC. executive Eric Nierenberg, EVP, CFO and Treasurer, reported several equity transactions on August 4, 2026. He exercised 185.3362 Restricted Stock Units, receiving an equivalent number of common shares. Of these, 2.3362 shares were returned to the issuer in a disposition at $180.85 per share, and 54 shares were delivered or withheld at $180.85 per share for payment of exercise price or tax liability. A remaining award of Restricted Stock Units representing 914.4510 underlying common shares, including Dividend Units, continues to be held directly and vests in scheduled annual installments beginning in 2027.

Insider Trade Summary

185.3362 shares exercised/converted

Exercise 5 txns

Insider Nierenberg Eric

Role EVP, CFO AND TREASURER

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units F1, F2	185.3362	$0.00	$0.00
Exercise	Common Stock F1	185.3362	--	--
Disposition	Common Stock	2.3362	$180.85	$422.50
Exercise Price or Tax Liability	Common Stock	54	$180.85	$10K
holding	Restricted Stock Units F1, F3	--	--	--

Holdings After Transaction: Restricted Stock Units — 1,472.4856 contracts for 914.451 underlying shares (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 7.0346 Dividend Units, vest in three equal annual installments beginning on August 4, 2027.
3. F3. The RSUs, which include an aggregate of 3.4510 Dividend Units, vest in four equal annual installments beginning on April 9, 2027.

Key Figures

RSUs Exercised: 185.3362 units Disposition to Issuer: 2.3362 shares at $180.85 per share Shares for Exercise Price or Tax: 54 shares at $180.85 per share +3 more

6 metrics

RSUs Exercised 185.3362 units Restricted Stock Units converted to common stock on August 4, 2026

Disposition to Issuer 2.3362 shares at $180.85 per share Common stock returned to issuer on August 4, 2026

Shares for Exercise Price or Tax 54 shares at $180.85 per share Common stock delivered or withheld to satisfy exercise price or tax liability

Remaining RSU Underlying Shares 914.4510 shares Underlying common shares for remaining Restricted Stock Units held directly

Dividend Units in First RSU Grant 7.0346 units Dividend Units included in RSUs vesting in three annual installments beginning August 4, 2027

Dividend Units in Second RSU Grant 3.4510 units Dividend Units included in RSUs vesting in four annual installments beginning April 9, 2027

Key Terms

Restricted Stock Units, Dividend equivalent rights, Dividend Units, Disposition to issuer

4 terms

Restricted Stock Units financial

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

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 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.

Dividend Units financial

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

Disposition to issuer financial

"transaction_action": "issuer disposition""

FAQ

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

What equity transactions did CRAI executive Eric Nierenberg report on this Form 4?

Eric Nierenberg reported exercising 185.3362 Restricted Stock Units into common stock, returning 2.3362 shares to the issuer, and delivering or withholding 54 shares to pay exercise price or tax liability, all on August 4, 2026.

How many CRAI common shares were used for tax or exercise payments in this Form 4?

The filing shows 54 CRAI common shares were delivered or withheld at $180.85 per share as payment of exercise price or tax liability related to the equity award exercise on August 4, 2026.

What price per share applies to the CRAI stock dispositions reported by Eric Nierenberg?

Both the 2.3362-share disposition to the issuer and the 54-share tax or exercise-price payment were recorded at $180.85 per share, according to the Form 4 transaction details.

What Restricted Stock Unit holdings does Eric Nierenberg still have at CRAI after these transactions?

A remaining RSU award representing 914.4510 underlying CRAI common shares is reported as directly held, including Dividend Units that vest in annual installments beginning in 2027, per the footnotes.

How do dividend equivalent rights affect Eric Nierenberg’s RSUs at CRAI?

The Form 4 states that dividend equivalent rights accrue as additional RSUs (Dividend Units) when CRAI pays dividends. These Dividend Units vest on the same dates and in the same proportions as the underlying RSUs.

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

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Accepted by SEC EDGAR 08/10/2026 - 05:43 PM EDT 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
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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 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)
08/04/2026

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	08/04/2026		M		185.3362	A	(1)	185.3362	D
Common Stock	08/04/2026		D		2.3362	D	$180.85	183	D
Common Stock	08/04/2026		F		54	D	$180.85	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)	08/04/2026		M			185.3362	(2)	(2)	Common Stock	743.3708	$0	558.0346	D
Restricted Stock Units	(1)							(3)	(3)	Common Stock	914.451		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 7.0346 Dividend Units, vest in three equal annual installments beginning on August 4, 2027.

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	08/10/2026
	** 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).
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* Form 4: SEC 1474 (03-26)