EPAM Systems, Inc. — Director's Dealing 2024

Mar 19, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: EPAM Systems, Inc. (EPAM)
CIK: 0001352010
Period of Report: 2024-03-15

Reporting Person: Dobkin Arkadiy (Director, CEO, President, Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-03-15	EPAM Common Stock	S	9300	$300.17	Disposed	1275311	Direct
2024-03-15	EPAM Common Stock	M	19000	$32.08	Acquired	1294311	Direct
2024-03-15	EPAM Common Stock	F	884	$302.24	Disposed	1293427	Direct
2024-03-15	EPAM Common Stock	F	584	$302.24	Disposed	1292843	Direct
2024-03-15	EPAM Common Stock	F	1135	$302.24	Disposed	1291708	Direct
2024-03-15	EPAM Common Stock	A	10374	—	Acquired	1302082	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-03-15	Employee Stock Option (right to buy)	$32.08	M	19000	Disposed	2024-03-31	EPAM Common Stock (19000)	Direct
2024-03-15	Employee Stock Option (right to buy)	$298.89	A	9365	Acquired	2034-03-15	EPAM Common Stock (9365)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
EPAM Common Stock	436189	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $299.25 to $301.49, 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.

F2: These shares were withheld by the Issuer to satisfy the tax withholding requirement arising from the vesting of restricted stock units granted to the reporting person under the Issuer's Long Term Incentive Plan.

F3: Represents restricted stock units that are scheduled to vest as to 25% of the shares on each of March 15, 2025, 2026, 2027, and 2028.

F4: These shares are held by the Arkadiy Dobkin GST Exempt Grantor Trust for the benefit of the reporting person's children. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the filing of this report should not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

F5: The option, representing a right to purchase 80,000 shares, became exercisable as to 25% of the shares on each of March 31, 2015, 2016, 2017 and 2018.

F6: The option will become exercisable as to 25% of the shares on each of March 15, 2025, 2026, 2027, and 2028.