Form 4: CRAI Exec Yellin Acquires New Restricted Stock Units

CRA International's EVP and General Counsel, Jonathan D. Yellin, acquired various Restricted Stock Units and holds existing stock options, increasing his beneficial ownership.

Summary

• Jonathan D. Yellin, Executive Vice President and General Counsel of CRA International, Inc. (CRAI), reported changes in his beneficial ownership.
• He directly beneficially owns 17,323 shares of CRA International common stock.
• On September 12, 2025, Yellin acquired multiple tranches of Restricted Stock Units (RSUs) totaling 11.0308 units, which represent a contingent right to receive one share of common stock per unit.
• These acquired RSUs include dividend equivalent rights (Dividend Units) that accrue and vest concurrently with the underlying RSUs.
• The vesting schedules for these RSUs vary, with initial vesting dates ranging from March 10, 2026, to May 20, 2026, and some vesting in multiple annual installments.
• Yellin also holds Nonqualified Stock Options, including 2,377 shares granted on December 18, 2017, with an exercise price of $44.87, and 2,845 shares granted on December 6, 2018, with an exercise price of $47.45.
• Both sets of stock options vest in four equal annual installments beginning on the first anniversary of their respective grant dates.

Sentiment

Score: 7

Explanation: The acquisition of Restricted Stock Units by a key executive is generally a positive signal, indicating alignment of interests and confidence in future performance, although the number of units acquired is relatively small in the context of total outstanding shares.

Positives

• The acquisition of Restricted Stock Units by a key executive like Jonathan D. Yellin aligns management's financial interests with those of shareholders, incentivizing long-term company performance.

Future Outlook

The filing details future vesting schedules for the acquired Restricted Stock Units and existing stock options, indicating a long-term incentive structure for the executive.

Industry Context

This Form 4 filing is a routine disclosure of executive compensation and insider ownership changes, common across publicly traded companies as part of their corporate governance and transparency requirements.

Related Party Transactions

• The acquisition of Restricted Stock Units and holding of Nonqualified Stock Options are part of the executive's compensation package, representing standard related-party transactions between the company and its executive.

Stakeholder Impact

• Shareholders: The equity awards align the executive's long-term financial interests with shareholder value creation.
• Employees: Reflects standard executive compensation practices within the company.

Next Steps

• Vesting of various tranches of Restricted Stock Units on scheduled dates between March 2026 and May 2026.
• Continued vesting of Nonqualified Stock Options according to their respective schedules.

Key Dates

Recommendation

This Form 4 details routine executive compensation in the form of Restricted Stock Units and existing stock options. While the acquisition of RSUs by a key executive generally indicates alignment with shareholder interests, the filing does not contain new financial performance data or strategic updates that would warrant a change in investment recommendation. It is a standard disclosure of insider ownership changes.

Keywords

CRA International, CRAI, Form 4, Insider Transaction, Restricted Stock Units, Stock Options, Executive Compensation, Jonathan Yellin, Beneficial Ownership