GRID DYNAMICS HOLDINGS, INC. — Director's Dealing 2020

Nov 5, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRID DYNAMICS HOLDINGS, INC. (GDYN)
CIK: 0001743725
Period of Report: 2020-11-02

Reporting Person: Zhang Shuo (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-11-02	Common Stock	A	1747	$0.00	Acquired	20551	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	139655	Indirect

Footnotes

F1: These securities are fully vested restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock. As previously reported, these restricted stock units were granted in lieu of individual quarterly cash retainer payments for Board service for the Issuer that the Reporting Person would have otherwise received pursuant to the Issuer's Outside Director Compensation Policy.

F2: The shares are held of record by Renascia Fund B LLC, for which the Reporting Person serves as a managing partner and chief executive officer.