Arkadiy Dobkin - Mar 21, 2025 Form 4 Insider Report for EPAM Systems, Inc. (EPAM)

Role: CEO, President, Chairman, Director
Signature: /s/ Kate Pytlewski as Attorney-in-Fact
Stock symbol: EPAM
Transactions as of: Mar 21, 2025
Transactions value $: -$2,477,492
Form type: 4
Date filed: 3/24/2025, 04:04 PM
Previous filing: Mar 18, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EPAM	EPAM Common Stock	Options Exercise	$3.07M	+50K	+3.86%	$61.38	1.34M	Mar 21, 2025	Direct	F1
transaction	EPAM	EPAM Common Stock	Tax liability	-$5.55M	-31.6K	-2.35%	$175.30	1.31M	Mar 21, 2025	Direct
holding	EPAM	EPAM Common Stock						448K	Mar 21, 2025	See footnote	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EPAM	Employee Stock Option (right to buy)	Options Exercise	$0	-50K	-100%	$0.00	0	Mar 21, 2025	EPAM Common Stock	50K	$61.38	Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The stock option was automatically exercised on a net share settlement basis immediately before its expiration, in accordance with its terms. The Company delivered to the reporting person the number of shares underlying the stock option less the number of shares having a Fair Market Value on the date of such exercise equal to (i) the aggregate exercise price for the stock option and (ii) the amount necessary to satisfy any federal, state and local withholding taxes related to such exercise.
F2	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.
F3	The option became exercisable as to 25% of the shares on each of March 23, 2016, 2017, 2018 and 2019.