13D Filing: Osmium Partners Owns Activist Stake in Cra International, Inc. (CRAI)

John H. LewisOsmium Partners has just filed a Form 13D with the SEC, updating the regulatory body on the latest pertinent information related to its position in CRA International, Inc. (NASDAQ:CRAI). The activist filing could reveal a change in the size of the investment firm’s ownership position in the stock, which now stands at 5.55%, or it could detail the latest on various agreements or discussions between the firm and the company. You can see the latest ownership position in the table below, while the filing is embedded below and on the following pages.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
. John H. Lewis 0 498,1 0 498,1 498,1 5.55%
. Osmium Partners, LLC 0 498,1 0 498,1 498,1 5.55%
. Osmium Capital, LP 0 225,3 0 225,3 225,3 2.51%
. Osmium Capital II, LP 0 127,5 0 127,5 127,5 1.42%
. Osmium Spartan, LP 0 57,7 0 57,7 57,7 0.64%
. Osmium Diamond, LP 0 87,5 0 87,5 87,5 0.98%

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Page 1 of 13 SEC Filing

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

RULE 13d-2(a)

(Amendment No.    )*

CRA
International, Inc.

(Name of Issuer)

Common Stock

(Title of
Class of Securities)

12618T105

(CUSIP Number)

Osmium
Partners, LLC

300 Drakes Landing Road, Suite 172

Greenbrae, CA 94904

Attention: John H. Lewis

Telephone: (415) 785-4044

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

January 6, 2016

(Date of
Event Which Requires Filing of This Statement)

If the filing
person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box  ¨.

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page
shall not be deemed to be “filed” for the purpose of section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes.)

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Page 2 of 13 SEC Filing


CUSIP No. 12618T105
  1. 

Names of
reporting persons.

I.R.S. Identification Nos. of above persons (entities only).

John H. Lewis

  2.

Check the appropriate box if a member
of a group (see instructions)

(a)  ¨        (b)  x

  3.

SEC use only

  4.

Source of funds

    AF

  5.

Check box if disclosure of legal
proceeding is required pursuant to Items 2(d) or 2(e)    ¨

  6.

Citizenship or place of
organization

    United States

Number of

shares

beneficially

owned by

each

reporting

person

with:

  7. 

Sole voting power

    0

  8.

Shared voting power

    498,129.0

  9.

Sole dispositive power

    0

10.

Shared dispositive power

    498,129.0

11.

Aggregate amount beneficially owned by each reporting person

    498,129.01

12.

Check if the aggregate amount in Row
(9) excludes certain shares (see instructions)    ¨

13.

Percent of class represented by amount
in Row (9)

    5.55%

14.

Type of reporting person (see
instructions)

    IN

1 Includes 7,700 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days

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Page 3 of 13 SEC Filing


CUSIP No. 12618T105
  1. 

Names of
reporting persons.

I.R.S. Identification Nos. of above persons (entities only).

Osmium Partners, LLC

  2.

Check the appropriate box if a member
of a group (see instructions)

(a)  ¨        (b)  x

  3.

SEC use only

  4.

Source of funds

    AF

  5.

Check box if disclosure of legal
proceeding is required pursuant to Items 2(d) or 2(e)    ¨

  6.

Citizenship or place of
organization

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with:

  7. 

Sole voting power

    0

  8.

Shared voting power

    498,129.0

  9.

Sole dispositive power

    0

10.

Shared dispositive power

    498,129.0

11.

Aggregate amount beneficially owned by each reporting person

    498,129.02

12.

Check if the aggregate amount in Row
(9) excludes certain shares (see instructions)    ¨

13.

Percent of class represented by amount
in Row (9)

    5.55%

14.

Type of reporting person (see
instructions)

    IA, OO

2 Includes 7,700 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days

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Page 4 of 13 SEC Filing


CUSIP No. 12618T105
  1. 

Names of
reporting persons.

I.R.S. Identification Nos. of above persons (entities only).

Osmium Capital, LP

  2.

Check the appropriate box if a member
of a group (see instructions)

(a)  ¨        (b)  x

  3.

SEC use only

  4.

Source of funds

    WC

  5.

Check box if disclosure of legal
proceeding is required pursuant to Items 2(d) or 2(e)    ¨

  6.

Citizenship or place of
organization

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with:

  7. 

Sole voting power

    0

  8.

Shared voting power

    225,361.0

  9.

Sole dispositive power

    0

10.

Shared dispositive power

    225,361.0

11.

Aggregate amount beneficially owned by each reporting person

    225,361.03

12.

Check if the aggregate amount in Row
(9) excludes certain shares (see instructions)    ¨

13.

Percent of class represented by amount
in Row (9)

    2.51%

14.

Type of reporting person (see
instructions)

    PN

3 Includes 3,200 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days

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Page 5 of 13 SEC Filing


CUSIP No. 12618T105
  1. 

Names of
reporting persons.

I.R.S. Identification Nos. of above persons (entities only).

Osmium Capital II, LP

  2.

Check the appropriate box if a member
of a group (see instructions)

(a)  ¨        (b)  x

  3.

SEC use only

  4.

Source of funds

    WC

  5.

Check box if disclosure of legal
proceeding is required pursuant to Items 2(d) or 2(e)    ¨

  6.

Citizenship or place of
organization

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with:

  7. 

Sole voting power

    0

  8.

Shared voting power

    127,566.0

  9.

Sole dispositive power

    0

10.

Shared dispositive power

    127,566.0

11.

Aggregate amount beneficially owned by each reporting person

    127,566.04

12.

Check if the aggregate amount in Row
(9) excludes certain shares (see instructions)    ¨

13.

Percent of class represented by amount
in Row (9)

    1.42%

14.

Type of reporting person (see
instructions)

    PN

4 Includes 2,000 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days

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Page 6 of 13 SEC Filing


CUSIP No. 12618T105
  1. 

Names of
reporting persons.

I.R.S. Identification Nos. of above persons (entities only).

Osmium Spartan, LP

  2.

Check the appropriate box if a member
of a group (see instructions)

(a)  ¨        (b)  x

  3.

SEC use only

  4.

Source of funds

    WC

  5.

Check box if disclosure of legal
proceeding is required pursuant to Items 2(d) or 2(e)    ¨

  6.

Citizenship or place of
organization

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with:

  7. 

Sole voting power

    0

  8.

Shared voting power

    57,700.0

  9.

Sole dispositive power

    0

10.

Shared dispositive power

    57,700.0

11.

Aggregate amount beneficially owned by each reporting person

    57,700.05

12.

Check if the aggregate amount in Row
(9) excludes certain shares (see instructions)    ¨

13.

Percent of class represented by amount
in Row (9)

    0.64%

14.

Type of reporting person (see
instructions)

    PN

5 Includes 1,500 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days

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Page 7 of 13 SEC Filing


CUSIP No. 12618T105
  1. 

Names of
reporting persons.

I.R.S. Identification Nos. of above persons (entities only).

Osmium Diamond, LP

  2.

Check the appropriate box if a member
of a group (see instructions)

(a)  ¨        (b)  x

  3.

SEC use only

  4.

Source of funds

    WC

  5.

Check box if disclosure of legal
proceeding is required pursuant to Items 2(d) or 2(e)    ¨

  6.

Citizenship or place of
organization

    Delaware

Number of

shares

beneficially

owned by

each

reporting

person

with:

  7. 

Sole voting power

    0

  8.

Shared voting power

    87,502.0

  9.

Sole dispositive power

    0

10.

Shared dispositive power

    87,502.0

11.

Aggregate amount beneficially owned by each reporting person

    87,502.06

12.

Check if the aggregate amount in Row
(9) excludes certain shares (see instructions)    ¨

13.

Percent of class represented by amount
in Row (9)

    0.98%

14.

Type of reporting person (see
instructions)

    PN

6 Includes 1,000 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days

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Page 8 of 13 SEC Filing


ITEM 1. Security and Issuer

The name of the issuer is CRA International, Inc. (the “Issuer”). The principal executive office of the Issuer is located at 200 Clarendon Street,
Boston, MA 02116.

ITEM 2. Identity and Background

(a)-(c) and (f) The names of the persons jointly filing this statement on Schedule 13D (the “Reporting Persons”) are: (1) Osmium
Capital, LP, a Delaware limited partnership (“Fund I”); (2) Osmium Capital II, LP, a Delaware limited partnership (“Fund II”); (3) Osmium Spartan, LP, a Delaware limited partnership (“Fund III”)
(4) Osmium Diamond, LP (“Fund IV”, and collectively with Fund I, Fund II, and Fund III, the “Funds”); (5) Osmium Partners, LLC, a Delaware limited liability company (“Osmium Partners”); and (6) John H.
Lewis, a United States citizen (“Mr. Lewis”). Osmium Partners serves as the general partner of Fund I, Fund II, Fund III and Fund IV. Mr. Lewis is the controlling member of Osmium Partners.

The principal business of each of Fund I, Fund II, Fund III and Fund IV is that of a private investment vehicle engaged in investing and trading in a wide
variety of securities and financial instruments for its own account. The principal business of Osmium Partners is providing investment management services and serving as the general partner of Fund I, Fund II, Fund III and Fund IV.
Mr. Lewis’ principal occupation is serving as the Managing Member of Osmium Partners.

(d)–(e) During the last five years, none of the
Reporting Persons have been (a) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

ITEM 3. Source and Amount of Funds or Other Consideration

The source and amount of funds (excluding commissions) used by the Funds in making their purchase of the shares of Common Stock, which includes Common Stock
issuable upon the exercise of Options exercisable within 60 days (“Options”), owned by each of them in the aggregate was $11,830,017.91 from working capital.

One or more of the Reporting Persons effect purchases of securities through margin accounts which may extend margin credit to the Reporting Persons as and
when required to open or carry positions in the margin accounts, subject to applicable federal margin regulations, stock exchange rules and brokers’ credit policies. In such instances, the positions held in the margin accounts are pledged as
collateral security for the repayment of debit balances in the accounts.

ITEM 4. Purpose of Transaction

The Reporting Persons have acquired the Issuer’s Common Stock for investment purposes, and such purchases have been made in the Reporting Persons’
ordinary course of business.

In pursuing such investment purposes, the Reporting Persons may further purchase, hold, vote, trade, dispose or otherwise
deal in the Common Stock at times, and in such manner, as they deem advisable to benefit from changes in market prices of such Common Stock, changes in the Issuer’s operations, business strategy or prospects, or from sale or merger of the
Issuer. To evaluate such alternatives, the Reporting Persons will routinely monitor the Issuer’s operations, prospects, business development, management, competitive and strategic matters, capital structure, and prevailing market conditions, as
well as alternative investment opportunities, liquidity requirements of the Reporting Persons and other investment considerations. Consistent with its investment research methods and evaluation criteria, the Reporting Persons may discuss such
matters with management or directors of the Issuer, other shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other investors. Such factors and
discussions may materially affect, and result in, the Reporting Persons’ modifying their ownership of the Issuer’s Common Stock, exchanging information with the Issuer pursuant to appropriate confidentiality or similar agreements,
proposing changes in the Issuer’s operations, governance or capitalization, or in proposing one or more of the other actions described in subsections (a) through (j) of Item 4 of Schedule 13D.

The Reporting Persons reserve the right to formulate other plans and/or make other proposals, and take such actions with respect to their investment in the
Issuer, including any or all of the actions set forth in paragraphs (a) through (j) of Item 4 of Schedule 13D, or acquire additional shares or dispose of all the shares beneficially owned by them, in the public market or privately
negotiated transactions. The Reporting Persons may at any time reconsider and change their plans or proposals relating to the foregoing.

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Page 9 of 13 SEC Filing


ITEM 5. Interest in Securities of the Issuer

(a) The Reporting Persons beneficially own:

(i) Fund I directly owns 225,361.00 shares of Common Stock, including 3,200.00 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days, representing 2.51% of all of the outstanding shares of
Common Stock of the Issuer.
(ii) Fund II directly owns 127,566.00 shares of Common Stock, including 2,000.00 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days, representing 1.42% of all of the outstanding shares of
Common Stock of the Issuer.
(iii) Fund III directly owns 57,700.00 shares of Common Stock, including 1,500.00 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days, representing 0.64% of all of the outstanding shares of
Common Stock of the Issuer.
(iv) Fund IV directly owns 87,502.00 shares of Common Stock, including 1,000.00 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days, representing 0.98% of all of the outstanding shares of
Common Stock of the Issuer.
(v) Osmium Partners, as the general partner of each of the Funds, may be deemed to beneficially own the 498,129.00 shares of Common Stock held by them, including 7,700.00 shares of Common Stock issuable upon the exercise of
Options exercisable within 60 days, representing 5.55% of all of the outstanding shares of Common Stock of the Issuer.
(vi) Mr. Lewis individually does not own any shares of Common Stock or Options. However, Mr. Lewis may be deemed to be the beneficial owner of the shares of Common Stock and Options beneficially owned by Osmium
Partners.
(vii) Collectively, the Reporting Persons beneficially own 498,129.00 shares of Common Stock, including 7,700.00 shares of Common Stock issuable upon the exercise of Options exercisable within 60 days, representing 5.55% of
all of the outstanding shares of Common Stock.

Each Reporting Person disclaims beneficial ownership with respect to any shares of Common
Stock other than the shares owned directly and of record by such Reporting Person.

The percentages set forth in this response are based on the 8,968,298
shares of Common Stock outstanding as of October 29, 2015, as reported by the Issuer in its Quarterly Report on Form 10-Q for the quarter ended October 3, 2015 as filed with the SEC on November 3, 2015.

(b) Osmium Partners and Mr. Lewis may be deemed to share with Fund I, Fund II, Fund III and Fund IV (and not with any third party) the power to vote or
direct the vote of and to dispose or direct the disposition of the 225,361.00 shares of Common Stock, 127,566.00 shares of Common Stock, 57,700.00 shares of Common Stock and 87,502.00 shares of Common Stock reported herein, respectively.

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Page 10 of 13 SEC Filing


(c) The following Reporting Persons engaged in the following open-market transactions with respect to the
Issuer’s Common Stock during the last 60 days:

Osmium Capital, LP

Transaction Date Number
of
Shares
Price
per
Share
Type of Transaction

11/20/2015

2 0

Option Expiration

11/20/2015

904 22.56

Sale

11/20/2015

1000 22.56

Sale

11/20/2015

2996 22.56

Sale

11/20/2015

800 22.56

Sale

11/20/2015

1300 22.56

Sale

11/20/2015

2400 25.3377

Option Exercise

11/20/2015

24 2.8377

Option Exercise

11/20/2015

4600 25.3377

Option Exercise

11/20/2015

46 2.8377

Option Exercise

11/20/2015

2000 24.9909

Option Exercise

11/20/2015

20 2.4909

Option Exercise

12/15/2015

1800 18.75

Purchase

12/18/2015

12500 18.1495

Purchase

12/22/2015

1000 19

Purchase

12/28/2015

2000 18.95

Purchase

12/30/2015

3000 19.0034

Purchase

1/5/2016

9500 19.5857

Purchase

1/6/2016

10000 19.4192

Purchase

1/8/2016

6500 18.939

Purchase

1/11/2016

6000 19.1537

Purchase

1/13/2016

6000 19.0833

Purchase

1/14/2016

1500 19.36

Purchase

1/15/2016

2000 18.5

Purchase

Osmium Capital II, LP

Transaction Date

Number

of

Shares

Price

per

Share

Type of Transaction

11/20/2015

1 0

Option Expiration

11/20/2015

1000 22.56

Sale

11/20/2015

700 22.56

Sale

11/20/2015

460 22.56

Sale

11/20/2015

840 22.56

Sale

11/20/2015

1200 24.9909

Option Exercise

11/20/2015

12 2.4909

Option Exercise

11/20/2015

2900 25.3377

Option Exercise

11/20/2015

29 2.8377

Option Exercise

11/20/2015

600 25.3377

Option Exercise

11/20/2015

6 2.8377

Option Exercise

12/15/2015

200 18.75

Purchase

12/18/2015

1500 18.1495

Purchase

12/30/2015

3000 19.0034

Purchase

1/4/2016

966 18.6

Purchase

1/4/2016

5000 19.0087

Purchase

1/5/2016

8500 19.5857

Purchase

1/6/2016

5000 19.4192

Purchase

1/8/2016

3500 18.939

Purchase

1/11/2016

2000 19.1537

Purchase

1/13/2016

4000 19.0833

Purchase

1/14/2016

500 19.36

Purchase

1/15/2016

1000 18.5

Purchase

Osmium Spartan, LP

Transaction Date

Number

of

Shares

Price

per

Share

Type of Transaction

11/20/2015

35 0.1693

Option Sale

11/20/2015

12 0.1693

Option Sale

1/11/2016

2500 19.1537

Purchase

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Page 11 of 13 SEC Filing


Osmium Diamond, LP

Transaction Date

Number

of

Shares

Price

per

Share

Type of Transaction

11/20/2015

1200 24.9909

Option Exercise

11/20/2015

12 2.4909

Option Exercise

11/20/2015

3 0.1693

Option Sale

11/20/2015

25 0.1693

Option Sale

11/20/2015

2000 22.56

Sale

12/24/2015

3000 18.83

Purchase

12/29/2015

6000 19.2259

Purchase

12/31/2015

6000 18.871

Purchase

1/8/2016

3000 18.939

Purchase

1/12/2016

2000 19.5

Purchase

1/14/2016

3000 19.36

Purchase

Other than the foregoing, no transactions in the Common Stock have been effected by the Reporting Persons in the last sixty
(60) days.

(d) Not applicable.

(e) Not applicable.

ITEM 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Not applicable.

ITEM 7. Material to be Filed as
Exhibits.

Exhibit 1 Joint Filing Agreement (filed herewith)

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Page 12 of 13 SEC Filing


SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.

Dated: January 19, 2016

John H. Lewis
Osmium Partners, LLC
Osmium Capital, LP
Osmium Capital II, LP
Osmium Spartan, LP
Osmium Diamond, LP
By:

/s/ John H. Lewis

John H. Lewis, for himself and as
Managing Member of Osmium Partners,
LLC, for itself and as General Partner of
Osmium Capital, LP, Osmium Capital II, LP, Osmium Spartan, LP and Osmium Diamond, LP

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Page 13 of 13 SEC Filing


EXHIBIT INDEX

Exhibit

No.

Document

1. Joint Filing Agreement

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