EPAM Systems, Inc. — Director's Dealing 2014

Nov 5, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EPAM Systems, Inc. (EPAM)
CIK: 0001352010
Period of Report: 2014-11-03

Reporting Person: Conte Anthony J (Vice President and CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-11-03	EPAM Common Stock	M	2500	$16.80	Acquired	6500	Direct
2014-11-03	EPAM Common Stock	M	2000	$6.875	Acquired	8500	Direct
2014-11-03	EPAM Common Stock	S	4500	$47.40	Disposed	4000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-11-03	Employee Stock Option (right to buy)	$16.8	M	2500	Disposed	2022-03-19	EPAM Common Stock (2500.0)	Direct
2014-11-03	Employee Stock Option (right to buy)	$6.875	M	2000	Disposed	2020-12-17	EPAM Common Stock (2000.0)	Direct

Footnotes

F1: The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $46.93 to $47.79, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

F3: The option, representing a right to purchase a total of 80,000 shares, became exercisable as to 25% of the shares on each of March 19, 2013 and 2014 and will become exercisable as to 25% of the shares on each of March 19, 2015 and 2016.

F4: The option, representing a right to purchase a total of 80,000 shares, became exercisable as to 25% of the shares on each of December 13, 2011, 2012 and 2013 and will become exercisable as to 25% of the shares on December 13, 2014.