[Form 4] Forrester Research Inc Insider Trading Activity

Rhea-AI Filing Summary

Form 4 – Forrester Research, Inc. (FORR) filed 08/05/2025 discloses routine equity-award activity by Chief Accounting Officer Scott Chouinard on 08/01/2025.

• 926 common shares acquired through automatic conversion of vested RSUs (code M, cost $0).
• 271 shares withheld by the issuer to cover taxes at $12.94 per share (code F).
• Post-transaction direct ownership: 9,958 shares; indirect (spouse): 1,246 shares.
• The RSU grant (3,702 units, awarded 08/01/2023) vests in four equal annual tranches; this filing reflects the second tranche.

No open-market buying or selling occurred and no derivative position remains, indicating a standard vesting and tax-withholding event rather than a discretionary trade.

Positive

• Net increase of 655 shares to insider’s direct holdings, modestly enhancing ownership alignment
• Timely Form 4 filing indicates adherence to disclosure obligations

Negative

• Disposal of 271 shares for tax withholding slightly offsets the acquisition
• Event does not represent an open-market purchase, so provides limited bullish signal

Insights

Financial Analyst

TL;DR – Routine RSU vest; minimal signal, neutral impact.

The acquisition increases Chouinard’s direct stake by 655 net shares after tax. Because shares were neither purchased nor sold on the open market, the filing conveys little about management’s view of valuation. The withholding price of $12.94 offers a datapoint on current fair value for tax purposes but not an investment thesis. Aggregate ownership (≈11.2 k shares) remains modest relative to FORR’s 19 m share float, so alignment change is immaterial.

Corporate Governance Specialist

TL;DR – Standard Section 16 compliance; no governance red flags.

The timely Form 4 demonstrates compliance with insider-reporting rules and transparency around equity compensation. Tax withholding via share surrender is common practice and avoids insider trading windows. No 10b5-1 plan is referenced, but no discretionary trades occurred. Overall, the event is administratively routine and not impactful to governance risk assessments.

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^*

Chouinard Scott

(Last) (First) (Middle)

C/O FORRESTER RESEARCH, INC.

60 ACORN PARK DRIVE

(Street)

CAMBRIDGE MA 02140

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
FORRESTER RESEARCH, INC. [ FORR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		M(1)		926	A	$0	10,229	D
Common Stock	08/01/2025		F		271(2)	D	$12.94	9,958	D
Common Stock								1,246	I	By spouse

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	$0(3)	08/01/2025		M			926	(4)	(4)	common stock	926	$0	0	D

Explanation of Responses:

1. Represents the conversion, upon vesting, of restricted stock units into common stock.

2. Represents shares withheld by the Issuer to satisfy tax withholding obligations upon the vesting on August 1, 2025 of the restricted stock units awarded to the reporting person on August 1, 2023. The award includes a provision for the withholding of shares by the Issuer to satisfy withholding taxes due as a result of the vesting of the award.

3. Each Restricted Stock Unit represents the right to receive, following vesting, one share of Forrester Research, Inc. common stock.

4. On August 1, 2023, the reporting person was granted 3,702 Restricted Stock Units that vest and convert into common stock in four equal and consecutive installments beginning on the first anniversary of the grant date.

	Maite Garcia, attorney-in-fact for Scott Chouinard	08/05/2025
	** 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 transaction did FORR report on 08/05/2025?

FORR’s CAO converted 926 RSUs into common stock and surrendered 271 shares for taxes.

How many FORR shares does Scott Chouinard now own?

He holds 9,958 shares directly and 1,246 shares indirectly via his spouse.

Was the transaction an open-market purchase of FORR stock?

No. Shares were acquired through RSU vesting; the only disposition covered taxes.

What price was used for the tax-withheld FORR shares?

The issuer valued the withheld shares at $12.94 each.

Do any RSUs remain after this Form 4 event?

No derivative balance remains from this particular grant after the 08/01/2025 vesting.