CRA International Inc. (CRAI): Osmium Partners Lowers Its Stake

According to a recent 13D filing with the US Securities and Exchange Commission, John H. Lewis  Osmium Partners owns 433,629 shares of CRA International, Inc. (NASDAQ:CRAI), which represent 4.9% of the company’s total amount of shares. This is 64,500 shares less than Osmium Partners held in January current year, as reported in a previous 13D filing. It was also revealed in the filing that Osmium Partners will continue to follow company’s moves and may enter into discussions with the management and propose some changes, while also reserving rights to buy, hold or sell more shares of the company.

 CRA International, Inc. (NASDAQ:CRAI) is a consulting firm that offers a variety of services covering the fields of management consulting, litigation, regulatory and financial consulting. Over the past 12 months, the company’s shares have lost 29.78%.

At the end of 2015, among the hedge funds tracked by Insider Monkey, 12 reported holding long positions including Osmium Partners with the biggest position. Other investors that were bullish on this stock are  Chuck Royce’s  Royce & Associates, which holds a $4.8 million position, and Jim Simons’s Renaissance Technologies, Paul Hondros’s AlphaOne Capital Partners and Cliff Asness’s AQR Capital Management.

On the other hand, investors who lost interest in this stock and sold off their shares are Matthew Hulsizer’s PEAK6 Capital Managemen, which dumped the biggest positions, worth about $0.6 million in stock, and  Chao Ku’s fund, Nine Chapters Capital Management, which dropped about $0.4 million worth of shares.

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 0 433,629 0 433,629 433,629 4.9%
Osmium Partners 0 433,629 0 433,629 433,629 4.9%
Osmium Capital 0 162,561 0 162,561 162,561 1.8%
Osmium Capital II 0 103,366 0 103,366 103,366 1.2%
Osmium Spartan 0 66,700 0 66,700 66,700 0.8%
Osmium Diamond 0 101,002 0 101,002 101,002 1.1%

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Page 1 of 11 – 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. 1)*

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)

April 18, 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 persons 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 11 – 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

    433,629

  9.

Sole Dispositive Power

    0

10.

Shared Dispositive Power

    433,629

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

    433,629

12.

Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (See Instructions)    ¨

13.

Percent of Class Represented by Amount
in Row (9)

    4.9%

14.

Type of Reporting Person (See
Instructions)

    IN

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Page 3 of 11 – 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

    433,629

  9.

Sole Dispositive Power

    0

10.

Shared Dispositive Power

    433,629

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

    433,629

12.

Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (See Instructions)    ¨

13.

Percent of Class Represented by Amount
in Row (9)

    4.9%

14.

Type of Reporting Person (See
Instructions)

    IA, OO

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Page 4 of 11 – 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)

(4)  ¨        (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

    162,561

  9.

Sole Dispositive Power

    0

10.

Shared Dispositive Power

    162,561

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

    162,561

12.

Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (See Instructions)    ¨

13.

Percent of Class Represented by Amount
in Row (9)

    1.8%

14.

Type of Reporting Person (See
Instructions)

    PN

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Page 5 of 11 – 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)

(4)  ¨        (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

    103,366

  9.

Sole Dispositive Power

    0

10.

Shared Dispositive Power

    103,366

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

    103,366

12.

Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (See Instructions)    ¨

13.

Percent of Class Represented by Amount
in Row (9)

    1.2%

14.

Type of Reporting Person (See
Instructions)

    PN

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Page 6 of 11 – 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

    66,700

  9.

Sole Dispositive Power

    0

10.

Shared Dispositive Power

    66,700

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

    66,700

12.

Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (See Instructions)    ¨

13.

Percent of Class Represented by Amount
in Row (9)

    0.8%

14.

Type of Reporting Person (See
Instructions)

    PN

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Page 7 of 11 – 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

    101,002

  9.

Sole Dispositive Power

    0

10.

Shared Dispositive Power

    101,002

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

    101,002

12.

Check if the Aggregate Amount in Row
(9) Excludes Certain Shares (See Instructions)    ¨

13.

Percent of Class Represented by Amount
in Row (9)

    1.1%

14.

Type of Reporting Person (See
Instructions)

    PN

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Page 8 of 11 – SEC Filing


EXPLANATORY NOTE

The Reporting Persons beneficial ownership has dropped below the 5% Schedule 13D reporting threshold. Therefore, this amendment No. 1 constitutes the
final amendment to the Reporting Persons Schedule 13D and an exit filing for the Reporting Person and terminates the Reporting Persons obligation to further amend the Schedule 13D.

ITEM 3. Source and Amount of Funds or Other Consideration

Item 3 is hereby amended and restated in its entirety as follows:

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 $9,433,930.66 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

Item 4 is hereby amended and restated in its entirety as follows:

The Reporting Persons have acquired the Issuers 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 Issuers operations, business strategy or prospects, or from sale or merger of the
Issuer. To

evaluate such alternatives, the Reporting Persons will routinely monitor the Issuers 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 Issuers Common Stock, exchanging
information with the Issuer pursuant to appropriate confidentiality or similar agreements, proposing changes in the Issuers 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.

ITEM 5. Interest in Securities of the Issuer

Item 5
is hereby amended and restated in its entirety as follows:

(a) The Reporting Persons beneficially own:

(i) Fund I directly owns 162,561 shares of Common Stock representing 1.8% of all of the outstanding shares of Common Stock of the Issuer.

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Page 9 of 11 – SEC Filing


(ii) Fund II directly owns 103,366 shares of Common Stock representing 1.2% of all of the outstanding shares of Common Stock of the Issuer.
(iii) Fund III directly owns 66,700 shares of Common Stock representing 0.8% of all of the outstanding shares of Common Stock of the Issuer.
(iv) Fund IV directly owns 101,002 shares of Common Stock representing 1.1% 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 433,629 shares of Common Stock held by them, representing 4.9% 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 433,629 shares of Common Stock, representing 4.9% 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 8,927,972 shares of Common Stock outstanding as of February 26, 2016, as
reported by the Issuer in its Annual Report on Form 10-K for the fiscal year ended January 2, 2016 as filed with the SEC on March 4, 2016.

(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 162,561 shares of Common Stock, 103,366
shares of Common Stock, 66,700 shares of Common Stock and 101,002 shares of Common Stock reported herein, respectively.

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

Osmium Capital,
LP

Transaction Date

Number

of

Shares

Price

per

Share

Type of Transaction

2/19/2016

22 0 Option Expiration

2/19/2016

10 0 Option Expiration

3/11/2016

3000 19.9 Sale

3/16/2016

4000 20.04 Sale

3/16/2016

1500 20.04 Sale

3/18/2016

500 20.629 Sale

3/18/2016

4500 20.629 Sale

3/22/2016

2500 20.7172 Sale

3/23/2016

1500 20.264 Sale

3/23/2016

2000 20.264 Sale

3/23/2016

4000 20.264 Sale

3/24/2016

2000 19.6726 Sale

3/30/2016

700 19.9044 Sale

3/30/2016

2396 19.9044 Sale

3/30/2016

3000 19.9044 Sale

3/30/2016

254 19.9044 Sale

3/30/2016

3900 19.9044 Sale

3/30/2016

12750 19.9044 Sale

4/13/2016

1600 19.9575 Sale

4/18/2016

8854 19.8423 Sale

4/18/2016

7000 19.8423 Sale

4/18/2016

1000 19.8423 Sale

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Page 10 of 11 – SEC Filing


4/18/2016

2000 19.8423 Sale

4/18/2016

2000 19.8423 Sale

4/18/2016

1146 19.8423 Sale

4/18/2016

2000 19.8423 Sale

4/18/2016

1500 19.8423 Sale

4/18/2016

3200 19.8423 Sale

4/18/2016

1300 19.8423 Sale

Osmium Capital II, LP

Transaction Date

Number

of

Shares

Price

per

Share

Type of Transaction

2/19/2016

5 0 Option Expiration

2/19/2016

15 0 Option Expiration

3/11/2016

584 19.9 Sale

3/11/2016

1416 19.9 Sale

3/16/2016

2500 20.04 Sale

3/18/2016

1000 20.629 Sale

3/18/2016

3516 20.629 Sale

3/18/2016

400 20.629 Sale

3/18/2016

84 20.629 Sale

3/23/2016

2500 20.264 Sale

3/24/2016

2906 19.6726 Sale

3/24/2016

984 19.6726 Sale

3/24/2016

210 19.6726 Sale

3/30/2016

1700 19.9044 Sale

3/30/2016

6344 19.9044 Sale

3/30/2016

356 19.9044 Sale

3/31/2016

1456 19.8618 Sale

3/31/2016

2100 19.8618 Sale

3/31/2016

144 19.8618 Sale

4/6/2016

2000 19.015 Sale

4/6/2016

544 19.015 Sale

4/6/2016

1000 19.015 Sale

4/6/2016

1456 19.015 Sale

4/18/2016

1000 19.928 Purchase

Osmium Spartan, LP

Transaction Date

Number

of

Shares

Price

per

Share

Type of Transaction

2/19/2016

15 0 Option Expiration

Osmium Diamond, LP

Transaction Date

Number

of

Shares

Price

per

Share

Type of Transaction

2/19/2016

10 0 Option Expiration

2/22/2016

5000 19.3 Purchase

2/25/2016

1000 19.418 Purchase

4/11/2016

1500 19.545 Sale

4/11/2016

3500 19.545 Sale

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Page 11 of 11 – SEC Filing


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.


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: April 20, 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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