AUS
NZ
UK
CA
USA
IND
.jpg)
CRA International, Inc. (NASDAQ:CRAI) announced that director Heather Tookes sold 88 shares of its common stock on July 23, 2026, at $165.93 per share. This transaction was conducted under a Rule 10b5-1 trading plan Tookes established on March 14, 2025. After the sale, Tookes retained beneficial ownership of 3,718 shares. This disclosure represents routine insider trading activity by a board member of the company.
Key Points
- NASDAQ ticker: CRAI
- Director Heather Tookes sold 88 shares on July 23, 2026
- Sale price: $165.93 per share; post-sale beneficial ownership: 3,718 shares
- Transaction executed under Rule 10b5-1 trading plan adopted March 14, 2025
Director Heather Tookes Completes Share Sale Under Pre-Established Trading Plan
Heather Tookes, a director at CRA International, completed the sale of 88 common shares on July 23, 2026, at $165.93 each, as reported in a Securities and Exchange Commission filing. The insider sale was part of a pre-arranged trading plan Tookes adopted on March 14, 2025, allowing for scheduled transactions independent of contemporaneous company information.
The Rule 10b5-1 plan enables insiders to set predetermined schedules for buying or selling shares, ensuring compliance with securities laws. Tookes’ plan was in place for approximately sixteen months before this sale, demonstrating adherence to regulatory frameworks designed to prevent insider trading based on material nonpublic information.
Post-Transaction Ownership Held by Tookes
Following the sale of 88 shares, Tookes retained beneficial ownership of 3,718 shares of CRA International common stock. The filing confirms these shares are directly owned, with no indirect ownership arrangements reported. The relatively small size of this sale compared to her total holdings indicates a cautious approach to managing her investment under the Rule 10b5-1 plan.
This retention of the majority of her shares may signal ongoing confidence in CRA International’s prospects by a member of its board of directors.
Transaction Timing and Execution Details
The sale executed on July 23, 2026, followed the predetermined terms set out in Tookes’ Rule 10b5-1 trading plan, which specifies timing, share quantity, and pricing conditions in advance. This structure removes discretion at the time of sale, mitigating concerns about trading on inside information.
The Form 4 filing was submitted to the SEC on July 27, 2026, four days after the transaction, consistent with regulatory requirements to file within two business days. The disclosure indicates the transaction occurred as scheduled without any deferral or modification.
Rule 10b5-1 Plan Compliance and Significance
Rule 10b5-1 trading plans are an important compliance tool that enables insiders to trade shares according to preset arrangements, distancing trading decisions from current material information. Tookes’ adoption of the plan on March 14, 2025, establishes a documented timeline demonstrating good faith compliance with insider trading rules.
This regulatory mechanism balances insiders’ rights to manage their holdings with the need to protect shareholders from potential insider trading abuses.
Context of CRA International Insider Trading Activity
CRA International, Inc., based in Boston, Massachusetts, operates in the management consulting industry and is listed on NASDAQ. Its directors and officers must disclose securities transactions under Section 16 of the Securities Exchange Act of 1934, providing transparency into insider investment actions.
While individual transactions under pre-planned arrangements should be interpreted cautiously, cumulative insider trading data can offer insights into management and board confidence in the company’s valuation and outlook.
Share Price and Transaction Value Insights
The sale price of $165.93 per share on July 23, 2026, values the 88-share transaction at approximately $14,601.84 before fees. The market price at execution reflects prevailing conditions rather than discretionary timing by Tookes, due to the Rule 10b5-1 plan structure.
Investors often assess whether insider sales occur near historical highs or lows to gauge sentiment, though this transaction aligns with a pre-established trading schedule.
Director Role and Board Membership
The SEC filing identifies Heather Tookes solely as a director of CRA International, responsible for governance and strategic oversight. No additional officer roles or executive positions are indicated, suggesting her involvement is limited to board duties.
Regulatory Filing and Procedural Information
The Form 4 was filed on July 27, 2026, naming Tookes as the reporting person with a residential address at 200 Clarendon Street, Boston, Massachusetts 02116. The filing was signed by Delia J. Makhlouta via power of attorney, a common practice in insider transaction disclosures.
No derivative securities transactions were reported; the sale involved only direct common stock holdings, consistent with typical Rule 10b5-1 plan executions.
Investor Considerations on Insider Transactions
Investors and analysts tracking CRA International may use insider transaction disclosures as one factor in evaluating company prospects and management confidence. Although single pre-planned sales should not be overemphasized, trends in insider buying or selling provide valuable context.
The detailed disclosure of timing, volume, and price enables investors to incorporate this information into their analyses. Future insider activity can be monitored through subsequent SEC Form 4 filings.
