[Form 4] Grid Dynamics Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Leonard Livschitz, reporting person and identified as Chief Executive Officer and a director of Grid Dynamics Holdings, Inc. (GDYN), reported an open-market sale on 08/21/2025. The Form 4 discloses a disposition of 132 shares of GDYN common stock at a price of $8.01 per share. Following the reported transaction the filing shows 13,002 shares beneficially owned indirectly; the filer explains those shares are held by the reporting person’s spouse. The form was signed by power of attorney on 08/25/2025. The filing was submitted by one reporting person.

Insights

Corporate Governance Expert

TL;DR: CEO/director disclosed a small open-market sale and retains indirect ownership via spouse.

The Form 4 indicates a routine sale of 132 shares at $8.01 by a reporting person who is both CEO and director. The filing notes 13,002 shares remain beneficially owned indirectly through the reporting person’s spouse. This disclosure is consistent with Section 16 reporting obligations and does not by itself reveal motive or signal governance changes. The use of a power of attorney to file is a common administrative practice.

Securities Analyst

TL;DR: Insufficient evidence of material impact; transaction is small relative to typical institutional positions.

The transaction reported is a disposition of 132 shares at $8.01 on 08/21/2025, with 13,002 shares held indirectly after the sale. No options, derivative transactions, or additional compensatory grants are disclosed in this filing. Given the modest size of the sale and the continuing indirect ownership, this Form 4 appears to be a routine insider sale and does not present clear, material implications for valuation based solely on the information provided.

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

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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^*

Livschitz Leonard

(Last) (First) (Middle)

C/O GRID DYNAMICS HOLDINGS, INC.

5000 EXECUTIVE PARKWAY, SUITE 520

(Street)

SAN RAMON CA 94583

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GRID DYNAMICS HOLDINGS, INC. [ GDYN ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF EXECUTIVE OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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
Common Stock								2,897,279	D
Common Stock	08/21/2025		S		132	D	$8.01	13,002	I	See footnote(1)

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. The shares are held by the Reporting Person's spouse.

	/s/Anil Doradla, by power of attorney	08/25/2025
	** 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 transaction did GDYN insider Leonard Livschitz report on the Form 4?

The Form 4 reports a sale of 132 shares of GDYN common stock on 08/21/2025 at $8.01 per share.

How many GDYN shares does the reporting person beneficially own after the transaction?

The filing shows 13,002 shares beneficially owned indirectly following the reported transaction.

Who holds the remaining shares reported on the Form 4?

The filing explains that the remaining shares are held by the reporting person’s spouse.

When was the Form 4 signed and by whom?

The Form 4 was signed by Anil Doradla by power of attorney on 08/25/2025.

Was this Form 4 filed by multiple reporting persons?

No. The form indicates it was filed by one reporting person.