[Form 4] GRID DYNAMICS HOLDINGS, INC. Insider Trading Activity

Rhea-AI Filing Summary

Anil Doradla, the Chief Financial Officer of Grid Dynamics Holdings, Inc. (GDYN), reported a sale of 2,215 shares of Common Stock on 10/01/2025 at a price of $7.82 per share. The Form 4 states these shares were withheld by the issuer to satisfy tax withholding obligations related to net settlement of restricted stock units. After the transaction, the reporting person beneficially owned 352,173 shares. The filing bears the reporting signature dated 10/03/2025.

Positive

• Beneficial ownership remains at 352,173 shares after the reported transaction

Negative

• A disposition of 2,215 shares occurred on 10/01/2025 at $7.82 per share

Insights

Corporate Insider / Executive Compensation Analyst

CFO sold a small block of shares to satisfy RSU tax withholding; substantial residual ownership remains.

What it means: The sale of 2,215 shares was executed as a net settlement to cover tax liabilities from vested restricted stock units, not necessarily a discretionary cash sale.

Why it matters: The reporting person continues to hold 352,173 shares, which keeps significant alignment with shareholders and retains voting exposure in the company.

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

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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).

1. Name and Address of Reporting Person^*

Doradla Anil

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
10/01/2025

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
Common Stock	10/01/2025		F		2,215(1)	D	$7.82	352,173	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 shares that have been withheld by the Issuer to satisfy tax withholding and remittance obligations in connection with net settlement of restricted stock units.

	/s/Anil Doradla	10/03/2025
	** 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 the GDYN CFO report on Form 4?

The CFO, Anil Doradla, reported a disposition of 2,215 shares on 10/01/2025 at $7.82 per share.

Why were the 2,215 shares disposed of in the GDYN Form 4?

The Form 4 states the shares were withheld by the issuer to satisfy tax withholding in connection with net settlement of restricted stock units.

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

Following the reported transaction the reporting person beneficially owned 352,173 shares.

When was the Form 4 for GDYN signed?

The Form 4 bears the reporting person’s signature dated 10/03/2025.

What role does the reporting person hold at GDYN?

Anil Doradla is identified on the form as Chief Financial Officer of Grid Dynamics Holdings, Inc.