Form 4: EPAM SVP Dvorkin Acquires Shares via ESPP

EPAM Systems' SVP, Viktar Dvorkin, acquired additional common stock through the company's Employee Stock Purchase Plan in two separate transactions.

Summary

• Viktar Dvorkin, SVP/Head of Global Delivery at EPAM Systems, Inc., acquired shares of EPAM Common Stock.
• On April 30, 2025, 56.234 shares were acquired at a price of $133.37 per share.
• On October 31, 2025, 55.683 shares were acquired at a price of $134.69 per share.
• These acquisitions were made under the EPAM Systems, Inc. 2021 Employee Stock Purchase Plan (ESPP).
• The shares were purchased at 85% of the fair market value on either the first or last trading day of the six-month purchase period, whichever was lower.
• Following these transactions, Dvorkin directly owns 12,311.091 shares and indirectly owns 40,624 shares through the Dvorkin Family Trust.
• The reported transactions are exempt from Rule 16b-3(c) and were made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 6

Explanation: The sentiment is mildly positive due to insider share acquisition, indicating confidence, but the routine nature of ESPP purchases limits the strength of this signal.

Positives

• Insider acquisition of shares, even through an ESPP, can signal management confidence in the company's future prospects.
• Participation in the ESPP demonstrates alignment of management's financial interests with those of shareholders.

Negatives

• No specific negatives identified in this routine Form 4 filing.

Risks

• No specific risks mentioned in this Form 4 filing.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance.

Management Comments

• No direct quotes or paraphrased statements from company management are included in this Form 4 filing, beyond the factual reporting of transactions.

Industry Context

This routine insider transaction under an Employee Stock Purchase Plan is specific to the individual and EPAM Systems, Inc., and does not provide broader insights into industry trends or competitive landscape.

Comparison to Industry Standards

• This filing details routine insider stock acquisitions through an ESPP, which is a common benefit program across many publicly traded companies. It does not present results that can be directly compared to specific industry benchmarks or competitor performance.

Related Party Transactions

• The transactions involve the acquisition of company stock by an officer through an Employee Stock Purchase Plan, which is a standard employee benefit program and not typically classified as a related party transaction in the context of potential conflicts of interest.

Stakeholder Impact

• Shareholders: Minor positive signal due to insider ownership alignment.
• Employees: Reflects the ongoing operation of the company's Employee Stock Purchase Plan, a standard benefit.

Next Steps

• No specific future actions or milestones are mentioned in this Form 4 filing beyond the reporting of past and future planned ESPP transactions.

Key Dates

Recommendation

This Form 4 reports routine insider purchases through an Employee Stock Purchase Plan (ESPP). While insider buying can be a positive signal, ESPP purchases are often automatic and at a discount, making them less indicative of strong conviction compared to open market purchases. Therefore, this filing alone does not warrant a change in investment recommendation, and a 'hold' stance is appropriate, pending further fundamental analysis.

Keywords

EPAM Systems, EPAM, Form 4, Insider Trading, Stock Purchase, Employee Stock Purchase Plan, ESPP, Viktar Dvorkin, SVP, Global Delivery, Beneficial Ownership