Form 4: CEO Livschitz Sells GDYN Shares for Tax Obligation

GRID DYNAMICS HOLDINGS, INC. CEO Leonard Livschitz reported a sale of 142 common shares to cover tax liabilities, executed under a Rule 10b5-1 plan.

Summary

• Leonard Livschitz, Chief Executive Officer and Director of GRID DYNAMICS HOLDINGS, INC. (GDYN), reported a transaction on November 24, 2025.
• The transaction involved the disposal of 142 shares of Common Stock at a price of $8.61 per share.
• This disposal was coded as 'F', indicating payment of tax liability by withholding securities.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following this transaction, Livschitz directly beneficially owns 2,851,378 shares of Common Stock.
• Additionally, 12,860 shares are indirectly beneficially owned through his spouse.

Sentiment

Score: 5

Explanation: Neutral. This is a routine insider transaction for tax purposes under a pre-arranged plan, which typically has minimal impact on sentiment.

Positives

• The transaction was executed under a Rule 10b5-1(c) plan, indicating a pre-arranged sale not based on new inside information.

Negatives

• A small number of shares were disposed of, which represents a minor reduction in direct ownership.

Future Outlook

The filing does not provide any forward-looking statements or guidance.

Industry Context

This Form 4 filing is a routine insider transaction report and does not provide information to analyze broader industry trends or competitor actions. It reflects an individual executive's share activity for tax purposes.

Comparison to Industry Standards

• This filing is a standard insider transaction report and does not contain information suitable for comparison to global benchmarks, comparable companies, projects, or results. It details a personal share transaction by an executive.

Stakeholder Impact

• Shareholders: Minor, as it's a small, pre-planned sale for tax purposes by a key executive, not indicative of a change in confidence.

Key Dates

Recommendation

The filing details a routine, pre-planned sale of a small number of shares by the CEO to cover tax liabilities. This type of transaction, executed under a Rule 10b5-1 plan, is generally not indicative of a change in the executive's outlook on the company's prospects and is unlikely to have a significant impact on the stock price or warrant a change in investment recommendation based solely on this report.

Keywords

GRID DYNAMICS HOLDINGS, GDYN, Leonard Livschitz, Form 4, Insider Transaction, Stock Sale, CEO, Tax Liability, Rule 10b5-1