Form 4: EPAM Systems SVP Lawrence Solomon Reports Stock Option Exercise and Sale
SEC Form 4 Filing
Lawrence Solomon, SVP & Chief People Officer of EPAM Systems, exercised stock options and sold shares on February 27, 2024.
Summary
- On February 27, 2024, Lawrence F. Solomon, SVP & Chief People Officer of EPAM Systems, Inc., exercised employee stock options to acquire 5,350 shares of EPAM common stock at a price of $112.62 per share.
- Simultaneously, Mr. Solomon sold 5,350 shares of EPAM common stock at a price of $306 per share.
- Following these transactions, Mr. Solomon directly owns 12,117 shares of EPAM common stock and 3,299 derivative securities.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider trading activities.
- Companies like Globant, Infosys, and Tata Consultancy Services also have executives who regularly file Form 4s related to stock options and share sales.
Stakeholder Impact
- The transaction provides information to shareholders regarding executive compensation and stock ownership.
- The sale of shares could have a minor impact on the stock price, but is unlikely to be significant given the volume.
Key Dates
| Date | Description |
|---|---|
| 03/23/2019 | 25% of the employee stock option grant became exercisable. |
| 03/23/2020 | 25% of the employee stock option grant became exercisable. |
| 03/23/2021 | 25% of the employee stock option grant became exercisable. |
| 03/23/2022 | 25% of the employee stock option grant became exercisable. |
| 02/27/2024 | Date of stock option exercise and sale of shares. |
| 02/28/2024 | Date of signature by Attorney-in-Fact. |
| 03/23/2028 | Expiration date of the employee stock option. |
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