Form 4: EPAM Systems SVP/General Counsel Edward Rockwell Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Edward Rockwell, SVP/General Counsel of EPAM Systems, reports transactions involving EPAM common stock, including the withholding of shares for tax obligations and the acquisition of restricted stock units.
Summary
- On March 15, 2025, Edward Rockwell, SVP/General Counsel of EPAM Systems, engaged in transactions involving EPAM common stock.
- A total of 374 shares were withheld by EPAM Systems to cover tax obligations related to the vesting of restricted stock units.
- These shares were withheld at a price of $182.73 per share.
- Rockwell also acquired 3,579 restricted stock units, which vest in four equal installments on March 15 of 2026, 2027, 2028, and 2029.
- Following these transactions, Rockwell directly owns 9,563 shares of EPAM common stock.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive as the filing reflects standard executive compensation practices and alignment with company performance.
Positives
- The acquisition of 3,579 restricted stock units indicates a continued alignment of the executive's interests with the long-term performance of the company.
Future Outlook
The restricted stock units 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 a routine part of corporate governance, providing transparency into the transactions of company insiders and their alignment with shareholder interests.
Comparison to Industry Standards
- Equity compensation is a standard practice in the tech industry, with companies like Globant, Infosys, and Tata Consultancy Services also utilizing restricted stock units as part of their executive compensation packages.
- The vesting schedule of the restricted stock units is typical, aligning with industry norms for incentivizing long-term performance.
Stakeholder Impact
- The transactions have a minor impact on shareholders, reflecting standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 03/15/2025 | Date of transactions involving EPAM common stock and restricted stock units. |
| 03/15/2026 | First vesting date for 25% of the acquired restricted stock units. |
| 03/15/2027 | Second vesting date for 25% of the acquired restricted stock units. |
| 03/15/2028 | Third vesting date for 25% of the acquired restricted stock units. |
| 03/15/2029 | Final vesting date for 25% of the acquired restricted stock units. |
| 03/18/2025 | Date of signature for the Form 4 filing. |
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