CRA International (NASDAQ: CRAI) awards 911 RSUs to CFO Nierenberg

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, Inc. reported that EVP, CFO and Treasurer Eric Nierenberg received a grant of 911 restricted stock units (RSUs) on April 9, 2026. Each RSU represents a contingent right to receive one share of common stock, payable in cash, shares, or a combination.

The 911 RSUs vest in four equal annual installments beginning on April 9, 2027. The filing also shows 740.5654 RSUs outstanding, including 6.5654 dividend-equivalent units that vest on the same schedule as the related RSUs starting August 4, 2026.

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	911	$0.00	--
holding	Restricted Stock Units	--	--	--

Holdings After Transaction: Restricted Stock Units — 911 shares (Direct)

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 vest in four equal annual installments beginning on April 9, 2027. The RSUs, which include an aggregate of 6.5654 Dividend Units, vest in four equal annual installments beginning on August 4, 2026.

Key Figures

RSUs granted: 911 RSUs Vesting start date (new grant): April 9, 2027 Outstanding RSUs: 740.5654 RSUs +1 more

4 metrics

RSUs granted 911 RSUs Grant to EVP, CFO and Treasurer on April 9, 2026

Vesting start date (new grant) April 9, 2027 Four equal annual installments for 911 RSUs

Outstanding RSUs 740.5654 RSUs Existing RSUs including Dividend Units, vesting from August 4, 2026

Dividend Units included 6.5654 RSUs Dividend equivalent rights embedded in the 740.5654 RSUs

Key Terms

Restricted Stock Units, Dividend equivalent rights, Dividend Units, contingent right to receive one share

4 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 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 on the Issuer's common stock"

Form 4 Insider Transactions: What Each Field Means →

04/13/2026 - 06:11 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)
04/09/2026

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⁾	04/09/2026		A		911		⁽²⁾	⁽²⁾	Common Stock	911	$0	911	D
Restricted Stock Units	⁽¹⁾							⁽³⁾	⁽³⁾	Common Stock	740.5654		740.5654	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 vest in four equal annual installments beginning on April 9, 2027.

3. The RSUs, which include an aggregate of 6.5654 Dividend Units, vest in four equal annual installments beginning on August 4, 2026.

	Delia J. Makhlouta, by power of attorney	04/13/2026
	** 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 did CRAI EVP and CFO Eric Nierenberg receive in this Form 4 filing?

Eric Nierenberg received a grant of 911 restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of CRA International common stock, payable in cash, shares, or a combination, according to the company’s equity compensation terms.

When do Eric Nierenberg’s newly granted 911 RSUs at CRAI vest?

The 911 RSUs vest in four equal annual installments beginning on April 9, 2027. This means one-quarter of the award becomes vested each year over four years, aligning the executive’s compensation with longer-term company performance and retention objectives.

How are dividend equivalent rights handled on CRAI RSUs in this filing?

Dividend equivalent rights accrue on unvested RSUs as additional RSUs, called Dividend Units, when dividends are paid on CRA International stock. These Dividend Units vest on the same dates and in the same relative proportions as the underlying RSUs to which they relate.

What does the 740.5654 RSUs balance represent for CRAI’s CFO?

The 740.5654 RSUs reflect an existing RSU position, including 6.5654 Dividend Units. These RSUs vest in four equal annual installments beginning on August 4, 2026, showing previously granted equity that is still unvested but scheduled to deliver future compensation if vesting conditions are met.

Are Eric Nierenberg’s CRAI RSUs settled only in stock or also in cash?

Vested RSUs may be paid in cash, CRA International common shares, or a combination of both. Shares, when used for settlement, are delivered as soon as possible after vesting and no later than two and one-half months after the end of the year in which vesting occurs.