Forrester CPO adds 1.3K shares; sells 822 for taxes – SEC Form 4

Rhea-AI Filing Summary

Forrester Research (FORR) – Form 4: Chief Product Officer Carrie Johnson reported the final vesting tranche of her 8,814-unit RSU award granted 08/02/21. On 08/01/25, 2,203 restricted stock units converted to an equal number of common shares (code M, $0 exercise price). To cover statutory tax withholding, 822 shares were automatically sold back to the issuer at $10.94 (code F). Net 1,381 shares were added to Johnson’s direct holdings, bringing her beneficial ownership to 26,354 shares.

No open-market purchases or sales occurred; transactions were plan-based and tax-related. There are no derivative securities remaining from this award.

Positive

• Net increase of 1,381 shares in insider’s direct holdings, modestly enhancing management alignment with shareholder interests.
• Full transparency under Rule 10b5-1 indicates robust compliance practices.

Negative

• 822 shares disposed to satisfy tax obligations, representing 37% of vested units, slightly diluting potential ownership gain.

Insights

Financial Analyst

TL;DR: Routine RSU vesting; officer increases net stake by 1,381 shares—neutral signal.

Johnson’s activity is typical end-of-cycle RSU settlement. The auto-sale for withholding is mechanical and the officer retains roughly 63% of vested shares, modestly boosting alignment with shareholders. Given FORR’s average daily volume, 1,381 shares is immaterial, so market impact should be negligible. No new options or derivatives remain outstanding from this grant.

Corporate Governance Expert

TL;DR: Compliance filing shows standard Rule 10b5-1 plan usage; governance posture intact.

The Form 4 discloses adherence to SEC Rule 10b5-1, reflecting proactive compliance. The retained shares strengthen insider ownership, viewed favorably by governance watchdogs, but the quantum is too small to materially shift control metrics. No red flags or unusual timing relative to blackout periods are evident.

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^*

Johnson Carrie

(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 Product 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)		2,203	A	$0	27,176	D
Common Stock	08/01/2025		F		822(2)	D	$10.94	26,354	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	$0(3)	08/01/2025		M			2,203	(4)	(4)	common stock	2,203	$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 2, 2021. 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 2, 2021, the reporting person was granted 8,814 Restricted Stock Units that vest and convert into common stock in four equal and consecutive installments on August 1, 2022, August 1, 2023, August 1, 2024 and August 1, 2025.

	Maite Garcia, attorney-in-fact for Carrie Johnson	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

How many FORR shares did Carrie Johnson acquire on 08/01/2025?

She acquired 2,203 shares through RSU conversion.

Why were 822 FORR shares sold immediately?

The shares were withheld at $10.94 to cover mandatory tax withholding on the vested RSUs.

What is Carrie Johnson’s current FORR shareholding after the transaction?

She now directly owns 26,354 common shares.

Were any options or additional derivatives involved?

No; the filing only reports RSUs converting to common stock with no remaining derivative position.

Is this Form 4 filing likely to impact FORR’s stock price?

The transaction is routine and small relative to float, so limited market impact is expected.