EPAM Systems, Inc. — Director's Dealing 2014

Jan 21, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EPAM Systems, Inc. (EPAM)
CIK: 0001352010
Period of Report: 2014-01-16

Reporting Person: Robb Karl (Director, President of EU Operations,EVP)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-16	Common Stock	S	10000	$38.00	Disposed	87400	Direct
2014-01-17	Common Stock	M	40000	$4.63	Acquired	127400	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-01-17	Employee Stock Option (right to buy)	$4.63	M	40000	Disposed	2020-08-13	Common Stock (40000)	Direct

Footnotes

F1: The sales reported in this Form 4 were 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 $37.54 to $38.23, 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 ranges set forth in this footnote to this Form 4.

F3: The option, representing a right to purchase a total of 160,000 shares, became exercisable as to 25% of the shares on each of January 1, 2011, 2012, 2013 and 2014.