On Dec. 3, 2025, President and CEO Paul Maleh executed an open-market sale of 7,500 shares of CRA International (CRAI +0.48%), according to a SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 7,500 |
| Transaction value | ~$1.4 million |
| Post-transaction shares (direct) | 116,545 |
| Post-transaction value (direct ownership) | ~$21.8 million |
Transaction value based on SEC Form 4 weighted average purchase price ($182.97); post-transaction value based on Dec. 3, 2025 close.
Key questions
- How does the size of this sale compare to Maleh's recent trading activity?
The 7,500-share sale aligns with the median transaction size for Maleh's open-market sales since April 2024, indicating the sale is consistent with his established disposition pattern. - What proportion of Maleh's direct CRA International holdings was impacted by this transaction?
This trade represented 6.05% of his direct holdings, reducing his stake to 116,545 shares, or 1.78% of outstanding shares as of the latest filing. - Did the transaction involve any derivatives, indirect holdings, or administrative share movements?
No; the disposition involved only directly held common stock, with no associated derivative exercises, indirect entity flows, or administrative (withholding or gift) activity.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $731 million |
| Net income (TTM) | $56.47 million |
| Dividend yield | 1.07% |
| 1-year price change | 16% |
* 1-year price change calculated using Dec. 3, 2025 as the reference date.
Company snapshot
- Provides economic, financial, and management consulting services, including research, expert testimony, litigation support, and management consulting across sectors such as finance, energy, healthcare, and technology.
- Generates revenue through project-based engagements and advisory services for corporations, law firms, and government agencies.
- Serves a diverse client base, including corporations, attorneys, and public sector organizations in the United States, United Kingdom, and internationally.
CRA International provides specialized consulting services, leveraging 947 professionals to deliver expert analysis and strategic guidance across multiple industries. The company’s strategy emphasizes high-value advisory work, expert testimony, and complex litigation support in the economic and financial consulting sectors. CRA serves a diversified client base and delivers consulting services internationally across multiple industries.
NASDAQ: CRAI
Key Data Points
What this transaction means for investors
Maleh's $1.4 million sale was part of a Rule 10b5-1 trading plan, which allows insiders to buy and sell shares of their company at prearranged times and amounts. Investors shouldn't read into the move as having anything to do with the insider's conviction in the stock or the direction of the company.
In fact, Maleh missed out on some major gains. The company reported its latest financial results in on Oct. 3, and it was another strong quarter, besting analyst predictions for both earnings and revenue. CRA will also manage an auction process for FirstEnergy Corp.'s three Ohio subsidiaries in January.
But CRA stock has rocketed since early December, hitting an all-time high on Jan. 6, capping off a strong year-long run for the consulting firm in which it rose more than 18%.
Kevin Steinke from Barrington Research rates CRA International stock a buy with a price target of $245, indicating possible upside of more than 14% from current prices.
Glossary
Open-market sale: The sale of securities on a public exchange, not through private transactions or company programs.
SEC Form 4: A required filing that discloses insider trades of company stock by officers, directors, or major shareholders.
Weighted average price: The average price of shares sold, weighted by the number of shares at each price.
Direct ownership: Shares held personally by an individual, not through trusts, entities, or other indirect means.
Indirect holdings: Shares owned through entities such as trusts, partnerships, or family members, rather than directly.
Disposition: The act of selling or otherwise transferring ownership of an asset or security.
Outstanding shares: The total number of a company’s shares that are currently held by all shareholders.
Derivative exercises: The act of converting derivative securities, like options, into company stock.
Withholding: Shares withheld by a company to cover taxes or other obligations, often during stock-based compensation events.
Gift activity: The transfer of shares to another party without receiving payment, often for estate or tax planning.
Litigation support: Consulting services provided to assist legal teams in lawsuits, often involving expert analysis or testimony.
TTM: The 12-month period ending with the most recent quarterly report.
