Form 4: Forrester Officer Converts RSUs, Sells Shares for Tax

Forrester Research Chief Research Officer Sharyn Leaver converted restricted stock units into common stock and sold a portion to cover tax obligations.

Summary

• Sharyn Leaver, Chief Research Officer of Forrester Research, Inc. (FORR), reported transactions on March 1, 2026.
• Converted 4,073 Restricted Stock Units (RSUs) into common stock upon vesting.
• Disposed of 1,373 shares of common stock at a price of $5.98 per share to satisfy tax withholding obligations related to the RSU vesting.
• Beneficial ownership of common stock following these transactions is 21,309 shares.
• The converted RSUs include 1,614 units from a March 1, 2022 grant of 6,457 RSUs, and 2,459 units from a March 1, 2023 grant of 9,836 RSUs, both vesting in four equal annual installments.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting the routine vesting of executive compensation and the executive's continued equity ownership, albeit with a minor reduction due to tax obligations.

Positives

• The vesting of 4,073 Restricted Stock Units indicates the achievement of performance or time-based conditions, reflecting continued value creation for the executive.
• The conversion of RSUs into common stock increases the executive's direct equity stake in the company, aligning interests with shareholders.

Negatives

• The disposition of 1,373 shares of common stock, even for tax purposes, represents a reduction in the executive's direct equity ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that routine insider transactions, such as RSU vesting and subsequent tax-related sales, are common compensation practices across the technology and research industries. These events typically reflect pre-scheduled compensation plans rather than discretionary trading based on new company developments.

Comparison to Industry Standards

• StockSavvy.ai observes that the practice of granting Restricted Stock Units (RSUs) as a component of executive compensation, with a portion withheld for tax obligations upon vesting, is a standard industry practice. Companies like Gartner (IT research) and various tech firms frequently utilize similar equity compensation structures to align executive incentives with long-term shareholder value.
• The specific vesting schedules, such as four equal annual installments, are also typical for such grants, providing a staggered incentive structure.

Stakeholder Impact

• Shareholders: Minor dilution from the issuance of common stock upon RSU conversion, which is a standard part of equity compensation. The executive's continued ownership aligns interests.
• Employees: The RSU vesting process is a standard component of executive compensation, reflecting common practices for incentivizing key personnel.

Next Steps

• Future installments of the March 1, 2022, and March 1, 2023, RSU grants will continue to vest on their respective anniversaries.

Key Dates

Keywords

Forrester Research, FORR, Sharyn Leaver, Chief Research Officer, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU vesting, Common Stock, Tax Withholding