Company: CRAI
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001104659-25-039429
Chunk: 32

Company: CRA INTERNATIONAL, INC.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 32
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% of annual base salary); and for Mr. Holmes, $475,000 (or approximately 95% of annual base salary). The amounts to be paid under these annual incentive cash bonuses, which were determined by our compensation committee on April 29, 2024 as described under the heading “Amounts paid with respect to fiscal 2024 annual incentive cash bonuses” below, could not exceed a maximum payment amount, mitigating the risk that the incentive cash compensation payable to our executive officers for fiscal 2024 would not be commensurate with our actual performance. These maximum payment amounts, which emphasize the relative importance of the objective financial performance criteria underlying them, were determined as follows: (1) the maximum payment of each component linked to net revenue or earnings performance criteria was equal to twice that component’s target payment, and (2) the maximum payment of any component linked to individual subjective performance goals was 140% of that component’s target payment. The target and maximum amounts payable under these annual incentive cash bonuses are reported under the heading “Estimated Possible Payouts Under Non-Equity Incentive Plan Awards” in the “Grants of Plan-Based Awards for Fiscal 2024” table below. The payment formulas under the components of these annual incentive cash bonuses tied to net revenue and earnings performance criteria increased the payment by 1% of the target payment for each 1% that the achievement of the applicable performance criteria exceeded the applicable performance target (subject to the component’s maximum payment amount), and decreased the payment by 1% of the target (5) As used here, “Performance Compensation EBITDA” means our consolidated GAAP net income reported in our audited financial statements for fiscal 2024, with the following charges added back: interest expense, net, provision for income taxes, depreciation and amortization, share-based compensation expense, amortization of forgivable loans, and other expense, net, all as additionally adjusted for the further non-GAAP adjustments set forth in the following sentence. The non-GAAP net revenue and Performance Compensation EBITDA metrics used for these annual incentive cash bonuses were also subject to the following additional non-GAAP adjustments: acquisitions, discontinued operations, and extraordinary and special items, each to the extent that they arose during fiscal 2024, and any other adjustments to our publicly reported GAAP results in our earnings releases for fiscal 2024, consistent with past practice. 25 TABLE OF CONTENTS payment for each 1% that the achievement of the applicable performance criteria missed the applicable