Form 4: EPAM Systems SVP, Chief Marketing Officer, Elaina Shekhter, Reports Changes in Beneficial Ownership

Elaina Shekhter, SVP, Chief Marketing Officer of EPAM Systems, reports transactions involving EPAM Common Stock, including the withholding of shares for tax obligations and the acquisition of restricted stock units and stock options.

Summary

• On March 15, 2024, Elaina Shekhter, SVP, Chief Marketing Officer of EPAM Systems, engaged in transactions involving EPAM Common Stock.
• A total of 365 shares were withheld by EPAM Systems to cover tax obligations related to the vesting of restricted stock units at a price of $302.24 per share.
• Shekhter acquired 2,510 restricted stock units, which will vest in four equal installments on March 15 of 2025, 2026, 2027, and 2028.
• She also acquired an option to purchase 4,531 shares of EPAM Common Stock at an exercise price of $298.89, vesting in four equal installments on March 15 of 2025, 2026, 2027, and 2028.
• Following these transactions, Shekhter directly owns 8,952 shares of EPAM Common Stock and holds options for 4,531 shares.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard regulatory filing. The acquisition of stock options and restricted stock units could be seen as a slightly positive sign, but it's a routine part of executive compensation.

Positives

• The acquisition of restricted stock units and stock options indicates confidence in the company's future performance.
• The vesting schedule of the restricted stock units and options aligns Shekhter's interests with the long-term success of EPAM Systems.

Future Outlook

The restricted stock units and stock options vest over a four-year period, suggesting a long-term commitment by the executive to the company's success.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. These filings are closely watched by investors to gauge sentiment and potential future performance.

Stakeholder Impact

• The transactions may have a minor positive impact on shareholder sentiment due to the executive's increased stake in the company.
• Employees may view the executive's stock ownership as a sign of confidence in the company's future.

Key Dates