Form 4: Forrester Research Director Neil Bradford Reports Significant RSU Grant and Tax-Related Share Withholding

Forrester Research, Inc. Director Neil Bradford reported the acquisition of 8,000 Restricted Stock Units and the disposition of 166 shares for tax withholding purposes, increasing his total beneficial ownership to 38,393 shares.

Summary

• Neil Bradford, a Director at Forrester Research, Inc. (FORR), reported two transactions related to his beneficial ownership.
• On June 1, 2025, 166 shares of common stock were withheld by Forrester Research at a price of $10.63 per share. This disposition was to satisfy tax withholding obligations upon the vesting of restricted stock units originally awarded on June 1, 2024.
• On June 2, 2025, Mr. Bradford was awarded 8,000 Restricted Stock Units (RSUs) under the Forrester Research, Inc. Amended and Restated Equity Incentive Plan.
• These 8,000 RSUs are scheduled to vest in four equal and consecutive installments of 2,000 shares each. The vesting dates are September 1, 2025, December 1, 2025, March 1, 2026, and June 1, 2026.
• Following these reported transactions, Mr. Bradford's direct beneficial ownership of Forrester Research common stock increased to 38,393 shares, which includes the newly awarded RSUs.

Sentiment

Score: 7

Explanation: The filing indicates a routine compensation event for a director, including a new equity grant, which is generally positive for aligning management incentives with shareholder interests. There are no negative surprises or red flags.

Positives

• Director Neil Bradford received a significant grant of 8,000 Restricted Stock Units, which aligns his long-term interests with those of the shareholders.
• The RSU grant serves as a continued incentive and demonstrates the company's commitment to retaining key management personnel through equity compensation.

Negatives

• The disposition of 166 shares was for tax withholding purposes, a standard procedure upon equity vesting, and does not indicate a negative sentiment or transaction by the insider.

Future Outlook

The vesting schedule for the newly awarded Restricted Stock Units extends through June 1, 2026, indicating a long-term incentive structure for the reporting person and aligning his interests with the company's future performance.

Industry Context

This Form 4 filing reflects a common practice in corporate compensation, where Restricted Stock Units (RSUs) are used to incentivize and retain key executives and directors. Such grants align management's interests with long-term shareholder value, a prevalent trend across various industries, particularly in technology and research sectors like Forrester Research.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of equity compensation is a standard practice across publicly traded companies, including those in the research and advisory industry.
• Companies like Gartner (IT) and IDC (part of IDG) also utilize similar equity incentive plans to attract and retain talent and align executive interests with company performance.
• The specific size of the grant (8,000 RSUs) for a director would typically be evaluated against peer group compensation benchmarks, which are not provided in this filing but are commonly disclosed in proxy statements (DEF 14A).

Stakeholder Impact

• Shareholders: The RSU grant aligns the director's long-term interests with shareholder value, potentially fostering better governance and performance.
• Employees: The equity incentive plan demonstrates the company's commitment to using equity as a compensation tool, which can be a positive signal for employee retention and motivation.

Next Steps

• Future vesting of the 8,000 Restricted Stock Units will occur in tranches on September 1, 2025, December 1, 2025, March 1, 2026, and June 1, 2026.

Key Dates

Recommendation

Keywords

Forrester Research, FORR, SEC Form 4, Insider Trading, Restricted Stock Units, RSU, Equity Incentive Plan, Director Compensation, Beneficial Ownership