Form 4: EPAM Systems Executive Reports Stock Transactions
SEC Form 4 Filing
Gary C. Abrahams, VP, Corporate Controller, PAO of EPAM Systems, Inc., reports the withholding of shares for tax obligations and the acquisition of restricted stock units.
Summary
- On March 15, 2024, Gary C. Abrahams, VP, Corporate Controller, PAO of EPAM Systems, Inc., had shares withheld by the issuer to cover tax obligations related to vesting restricted stock units.
- A total of 33, 19, and 49 shares were withheld at a price of $302.24 each.
- Abrahams also acquired 586 restricted stock units on March 15, 2024, at a price of $0.
- These restricted stock units are scheduled to vest in four equal installments on March 15 of 2025, 2026, 2027, and 2028.
- Following these transactions, Abrahams beneficially owns 2,542 shares of EPAM Common Stock.
Sentiment
Score: 6
Explanation: The document reflects standard executive compensation practices and insider trading reporting, indicating a neutral sentiment.
Positives
- The acquisition of 586 restricted stock units indicates continued investment in the company's future by the executive.
- The vesting schedule of the restricted stock units incentivizes long-term performance and commitment.
Future Outlook
The restricted stock units vest over a four-year period, suggesting a long-term incentive plan for the reporting person.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices through restricted stock units.
Stakeholder Impact
- The transactions have a minor impact on shareholders, reflecting standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 03/15/2024 | Date of stock transactions (share withholding and restricted stock unit acquisition) |
| 03/15/2025 | First vesting date for 25% of the acquired restricted stock units |
| 03/15/2026 | Second vesting date for 25% of the acquired restricted stock units |
| 03/15/2027 | Third vesting date for 25% of the acquired restricted stock units |
| 03/15/2028 | Final vesting date for 25% of the acquired restricted stock units |
| 03/19/2024 | Date of signature for the Form 4 filing |
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