4/A: EPAM Executive Corrects 2018 Stock Option Filing
Insider Transaction Amendment
An EPAM Systems executive filed an amended Form 4 to correct the reported number of beneficially owned derivative securities from an August 2018 stock option exercise.
Summary
- Boris Shnayder, SVP/Co-Head of Global Business at EPAM Systems, Inc., filed an amended Form 4 (Form 4/A).
- The amendment corrects an error in a Form 4 originally filed on August 13, 2018.
- The original filing incorrectly reported the number of derivative securities beneficially owned by Mr. Shnayder following a transaction on that date.
- On August 13, 2018, Mr. Shnayder exercised 3,000 employee stock options at an exercise price of $70.52 per share.
- Following this transaction, he acquired 3,000 shares of EPAM Common Stock.
- His direct beneficial ownership of non-derivative securities after the transaction was 18,645.091 shares.
- The corrected number of beneficially owned derivative securities (employee stock options) after the transaction is 9,308.
- The exercised options had an exercisable date of July 31, 2019, and an expiration date of March 25, 2026.
Sentiment
Score: 5
Explanation: Neutral, as this is an administrative correction of a past filing, not indicative of current company performance or strategic direction.
Positives
- Correction of a past reporting error ensures accuracy and transparency in public disclosures of insider ownership.
Negatives
- Initial incorrect reporting of beneficially owned derivative securities required an amendment.
Risks
- NA
Future Outlook
NA
Management Comments
- The Form 4 filed on August 13, 2018 incorrectly reported the number of derivative securities beneficially owned by the Reporting Person following the transaction reported on that Form 4.
Industry Context
NA
Comparison to Industry Standards
- NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| NA | NA | NA | NA | NA |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| NA | NA | NA | NA |
Legal Proceedings
- NA
Related Party Transactions
- NA
Stakeholder Impact
- Shareholders: Provides accurate historical insider ownership data, enhancing transparency.
Next Steps
- NA
Key Dates
| Date | Description |
|---|---|
| 08/13/2018 | Original transaction date and initial Form 4 filing date, involving the exercise of employee stock options. |
| 07/31/2019 | Date when the exercised employee stock options became exercisable. |
| 03/25/2026 | Expiration date of the employee stock options. |
| 12/10/2025 | Date the amended Form 4/A was signed by the reporting person's attorney-in-fact. |
Keywords
EPAM, Form 4/A, insider trading, stock options, beneficial ownership, SEC filing, Boris Shnayder, executive compensation, equity
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