Company: CRAI
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001104659-25-039429
Chunk: 42

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 42
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 insurance for the benefit of these employees. Our compensation committee believes that these modest perquisites and other compensation are consistent with our overall policy of providing competitive compensation designed to attract and retain our executive officers. Compensation actions taken during 2025 On March 3, 2025, our compensation committee determined the number of shares of our common stock issuable based on the outcome of performance conditions of PRSUs granted on April 11, 2023 to our executive officers under our LTIP. These PRSUs’ performance criteria were based on our fiscal 2023 and fiscal 2024 average Performance Compensation EBITDA margin (including acquisitions and divestitures) (13) and consolidated non-GAAP cumulative annual net revenue growth (including acquisitions and divestitures). (14) The number of shares of our common stock potentially issuable under each of these PRSUs based on the outcome of the PRSU’s performance conditions, or its “performance share number,” ranged from a threshold of 50% of the PRSU’s target payment to a maximum of 150% of the PRSU’s target payment. The threshold, target and maximum performance share numbers under these PRSUs were based on threshold, target and maximum performance of 15%, 17% and 19%, respectively, for our fiscal 2023 and fiscal 2024 Performance Compensation EBITDA margin (including acquisitions and divestitures), and 4%, 8% and 12%, respectively, for our fiscal 2023 and fiscal 2024 consolidated non-GAAP cumulative annual net revenue growth (including acquisitions and divestitures). Based on our consolidated Performance Compensation EBITDA margin (including acquisitions and divestitures) for the performance period of 18.4% and our consolidated non-GAAP cumulative annual net revenue growth (including acquisitions and divestitures) over the performance period of 8%, our compensation committee determined that the performance share number payable under each of these PRSUs based on their payment matrix was 117% of the PRSU’s target payment. 50% of each of these performance share numbers vested on March 3, 2025 and were paid in shares of our common stock on that date. The remaining 50% of each of these performance share numbers will vest in two equal annual installments on the third and fourth anniversaries of the grant date. The vesting of any portion of a PRSU’s performance share number is subject to the continued employment of the PRSU’s recipient on the vesting date.