GRID DYNAMICS HOLDINGS, INC. — Director's Dealing 2022

Nov 26, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRID DYNAMICS HOLDINGS, INC. (GDYN)
CIK: 0001743725
Period of Report: 2022-11-22

Reporting Person: CARNEY LLOYD (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-11-22	Common Stock	S	60000	$12.48	Disposed	708709	Direct
2022-11-22	Common Stock	S	23000	$12.4774	Disposed	28200	Indirect
2022-11-23	Common Stock	S	60000	$12.55	Disposed	648709	Direct
2022-11-23	Common Stock	S	23000	$12.50	Disposed	5200	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	12542	Indirect
Common Stock	288800	Indirect
Common Stock	19675	Indirect
Common Stock	74345	Indirect

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $12.40 to $12.56. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

F2: This transaction was executed in multiple trades at prices ranging from $12.44 to $12.57. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

F3: The shares are held of record by The Lloyd Carney Foundation (the "Foundation"). Shares held by the Foundation were acquired upon transfer from the Reporting Person prior to the date hereof. The Foundation is a 501(c)(3) charitable organization controlled by the Reporting Person. Proceeds from the sale of the share will be donated to various charities.

F4: This transaction was executed in multiple trades at prices ranging from $12.50 to $12.60. The price reported above reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

F5: The shares are held by The Lloyd A. Carney Revocable Trust dated September 25, 1995.

F6: The shares are held by the Lloyd Carney 2018 Grantor Retained Annuity Trust (the "2018 GRAT"). Shares held by the 2018 GRAT were acquired upon transfer from the Reporting Person prior to the date hereof.

F7: The shares are held by the Lloyd Carney 2020 Grantor Retained Annuity Trust (the "2020 GRAT"). Shares held by the 2020 GRAT were acquired upon transfer from the Reporting Person prior to the date hereof.

F8: The shares are held by the Ana M. Carney Living Trust (the "Living Trust"). Ana M. Carney is the Reporting Person's spouse. Shares held by the Living Trust were acquired upon transfer from the Reporting Person prior to the date hereof