Form 4: GDYN CEO Sells Shares Under 10b5-1 Plan

Grid Dynamics CEO Leonard Livschitz sold 10,000 shares of common stock for $9 each, executed under a pre-arranged 10b5-1 trading plan.

Summary

• Leonard Livschitz, Chief Executive Officer and Director of Grid Dynamics Holdings, Inc. (GDYN), reported a sale of common stock.
• The transaction involved the disposition of 10,000 shares of GDYN Common Stock.
• The shares were sold at a price of $9 per share.
• The sale occurred on January 20, 2026.
• This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted by Mr. Livschitz on August 4, 2025.
• Following the transaction, Mr. Livschitz directly beneficially owns 3,124,343 shares of Common Stock.
• Additionally, 12,860 shares are indirectly beneficially owned by his spouse.

Sentiment

Score: 5

Explanation: The transaction is a pre-scheduled sale under a 10b5-1 plan, which typically indicates a planned financial management activity rather than a reaction to new company-specific information, thus maintaining a neutral sentiment.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, indicating a pre-scheduled transaction rather than a reaction to recent events, which can reduce concerns about opportunistic insider selling.

Negatives

• Insider selling, even under a 10b5-1 plan, represents a reduction in the CEO's direct equity stake in the company.

Risks

• While the sale is pre-planned, a consistent pattern of insider selling by key executives could potentially be interpreted by investors as a lack of confidence, though this single transaction is unlikely to have a significant impact.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance.

Industry Context

Insider transactions, particularly those executed under Rule 10b5-1 plans, are common across industries as a mechanism for executives to manage their personal finances while adhering to insider trading regulations. This specific transaction by Grid Dynamics' CEO aligns with standard practices for managing executive compensation and equity holdings.

Corporate Governance

Related Party Transactions

• 12,860 shares of common stock are indirectly beneficially owned by the Reporting Person's spouse.

Stakeholder Impact

• Shareholders may note a minor reduction in the CEO's direct equity holding, but the pre-planned nature of the sale under a 10b5-1 plan typically mitigates concerns about management's confidence in the company's future.

Key Dates

Keywords

Grid Dynamics Holdings Inc., GDYN, Leonard Livschitz, CEO, Director, Insider Trading, Form 4, Stock Sale, 10b5-1 Plan, Beneficial Ownership