[Form 4] EPAM SYSTEMS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Fejes Balazs, who is listed as CEO, President and a Director of EPAM Systems, acquired 4,112 shares via restricted stock units on 09/01/2025 at a reported price of $0. After the grant, he beneficially owns 24,752 shares of EPAM common stock. The restricted stock units vest in four equal installments: 25% on each September 1 of 2026, 2027, 2028 and 2029. The Form 4 was executed on behalf of the reporting person by an attorney-in-fact, Kate Pytlewski, on 09/02/2025. No derivative transactions are reported on this form.

Positive

• Time‑based vesting aligns executive incentives with long‑term shareholder value through 2029
• Post‑transaction ownership of 24,752 shares increases the executive's stake in EPAM

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Executive received time‑based equity that aligns incentives over four years, typical for retention and alignment.

The grant of 4,112 restricted stock units at $0 indicates a compensation award rather than an open‑market purchase. Vesting in four equal annual tranches ties the executive to the company through 2029, supporting retention and long‑term alignment with shareholders. The post‑transaction beneficial ownership of 24,752 shares provides a meaningful personal stake, though its materiality depends on total outstanding shares (not provided). Filing by an attorney‑in‑fact is routine and does not indicate a substantive change to ownership reporting.

Securities/Insider Transactions Analyst

TL;DR: This Form 4 reports a standard RSU grant; no sales or derivative exercises were disclosed.

The reported transaction code 'A' and price of $0 are consistent with a grant of restricted stock units rather than a market purchase. There are no disposals or option exercises recorded. The schedule of vesting (25% annually) is explicit, allowing investors to project potential increases in free‑floating shares as vesting dates pass. Absent additional context (total holdings, dilution impact), this is a routine insider compensation disclosure.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Fejes Balazs

(Last) (First) (Middle)

41 UNIVERSITY DRIVE

(Street)

NEWTOWN PA 18940

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EPAM Systems, Inc. [ EPAM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO, President, Director

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
EPAM Common Stock	09/01/2025		A		4,112(1)	A	$0	24,752	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents restricted stock units that are scheduled to vest as to 25% of the shares on each of September 1, 2026, 2027, 2028, and 2029.

Remarks:

	/s/ Kate Pytlewski as Attorney-in-Fact	09/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did EPAM insider Fejes Balazs report on Form 4?

The Form 4 reports a grant of 4,112 restricted stock units acquired on 09/01/2025, bringing his beneficial ownership to 24,752 shares.

How do the restricted stock units (RSUs) granted to Fejes Balazs vest?

The RSUs vest 25% on each September 1 of 2026, 2027, 2028, and 2029.

Was the Form 4 signed directly by Fejes Balazs?

No; the filing shows it was executed by Kate Pytlewski as Attorney‑in‑Fact on 09/02/2025.

Did the Form 4 report any option exercises or derivative transactions for EPAM (EPAM)?

No. Table II shows no derivative securities were acquired or disposed of in this filing.

What was the reported price for the RSU grant?

The reported price for the RSU grant is shown as $0, consistent with a compensation grant.