GRID DYNAMICS HOLDINGS, INC. — Director's Dealing 2025

Dec 30, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: GRID DYNAMICS HOLDINGS, INC. (GDYN)
CIK: 0001743725
Period of Report: 2025-12-23

Reporting Person: CARNEY LLOYD (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-23	Common Stock	A	19021	—	Acquired	689977	Direct
2025-12-23	Common Stock	A	9239	—	Acquired	699216	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	12542	Indirect
Common Stock	5200	Indirect
Common Stock	288800	Indirect
Common Stock	19675	Indirect

Footnotes

F1: These securities are restricted stock units (RSUs). Each RSU represents a contingent right to receive one share of Common Stock. 100% of the RSUs shall vest on December 23, 2026, subject to the Reporting Person continuing as a service provider through such date.

F2: These securities are RSUs, each of which represents a contingent right to receive one share of Common Stock. One-quarter of the RSUs shall vest on March 23, 2026 and one-quarter shall vest on each three-month anniversary thereafter, subject to the Reporting Person continuing as a service provider in the same Grid Dynamics Holdings, Inc. board of directors and (if applicable) board committee roles through each such date.

F3: The shares are held by The Lloyd A. Carney Revocable Trust dated September 25, 1995.

F4: The shares are held by The Lloyd Carney Foundation (the "Foundation"). The Foundation is a 501(c)(3) charitable organization controlled by the Reporting Person.

F5: The shares are held by the Lloyd Carney 2018 Grantor Retained Annuity Trust.

F6: The shares are held by the Lloyd Carney 2020 Grantor Retained Annuity Trust.