Form 4: EPAM Systems CEO Arkadiy Dobkin Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Arkadiy Dobkin, CEO, President, and Chairman of EPAM Systems, Inc., reports changes in beneficial ownership of company stock due to tax withholding and vesting of restricted stock units.
Summary
- On March 15, 2025, Arkadiy Dobkin, CEO, President, and Chairman of EPAM Systems, Inc., had shares withheld by the issuer to satisfy tax obligations related to vesting restricted stock units.
- A total of 3,549 shares were disposed of at a price of $182.73 each to cover these tax obligations.
- Dobkin also acquired 22,189 restricted stock units on March 15, 2025, at a price of $0.
- These restricted stock units will vest in four equal installments on March 15 of 2026, 2027, 2028, and 2029.
- Following these transactions, Dobkin directly owns 1,294,278 shares of EPAM Common Stock.
- Dobkin also indirectly owns 447,589 shares through the Arkadiy Dobkin GST Exempt Grantor Trust.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The filing reflects standard executive compensation practices and doesn't indicate any significant concerns. The vesting of restricted stock units suggests a long-term commitment from the CEO.
Positives
- The acquisition of 22,189 restricted stock units indicates continued alignment of the CEO's interests with the company's long-term performance.
Future Outlook
The restricted stock units vest over four years, suggesting a long-term commitment by the CEO.
Industry Context
Form 4 filings are routine disclosures required by the SEC to provide transparency regarding insider transactions in publicly traded companies. This filing indicates standard compensation practices involving stock-based compensation for executives.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies, especially in the technology sector, to align executive compensation with company performance.
- Vesting schedules of 4 years are typical for restricted stock units.
- Companies like Globant, Infosys, and Tata Consultancy Services also utilize similar stock-based compensation plans for their executives.
Stakeholder Impact
- The vesting of restricted stock units aligns the CEO's interests with those of shareholders, potentially driving long-term value creation.
Key Dates
| Date | Description |
|---|---|
| 03/15/2025 | Date of transactions: stock disposal for tax withholding and acquisition of restricted stock units. |
| 03/15/2026 | First vesting date for 25% of the restricted stock units. |
| 03/15/2027 | Second vesting date for 25% of the restricted stock units. |
| 03/15/2028 | Third vesting date for 25% of the restricted stock units. |
| 03/15/2029 | Final vesting date for 25% of the restricted stock units. |
| 03/18/2025 | Date of signature for the Form 4 filing. |
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