Grid Dynamics CEO covers taxes with 162-share sale

GRID DYNAMICS HOLDINGS, INC.

Rhea-AI Filing Summary

GRID DYNAMICS HOLDINGS, INC. CEO Leonard Livschitz reported routine insider activity involving common stock. A Form 4 entry shows a holding line and a small disposition related to taxes, not an open-market trade.

The filing reports that 162 shares of common stock were disposed of at $7.08 per share to cover tax withholding obligations tied to the vesting and settlement of restricted stock units. These 162 shares are held indirectly through the reporting person’s spouse, as noted in the footnotes.

After these updates, Livschitz is shown with 3,391,496 shares held directly and 11,260 shares held indirectly through his spouse. The transaction is characterized as a tax-withholding disposition rather than a discretionary purchase or sale.

Insider Trade Summary

Exercise Price or Tax Liability: 162 shares

Exercise Price or Tax Liability 2 txns

Insider Livschitz Leonard

Role CHIEF EXECUTIVE OFFICER

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	162	$7.08	$1K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,260 shares (Indirect, See footnote); Common Stock — 3,391,496 shares (Direct)

Footnotes (2)

1. F1. This transaction represents shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units.
2. F2. The shares are held by the Reporting Person's spouse.

Key Figures

Tax-withholding shares: 162 shares Tax-withholding price: $7.08 per share Direct holdings after transaction: 3,391,496 shares +3 more

6 metrics

Tax-withholding shares 162 shares Disposed of at $7.08 per share to cover RSU tax withholding

Tax-withholding price $7.08 per share Price for 162-share code F disposition

Direct holdings after transaction 3,391,496 shares Common stock held directly by Leonard Livschitz following reported activity

Indirect holdings after transaction 11,260 shares Common stock held indirectly through spouse after tax-withholding disposition

Tax-withholding transactions 1 transaction Single code F disposition in transaction summary

Holding entries 1 entry Non-transactional holding line reported in Form 4

Key Terms

restricted stock units, tax withholding obligations, indirect ownership, Form 4, +1 more

5 terms

restricted stock units financial

"in connection with the vesting and settlement of restricted stock units."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax withholding obligations financial

"shares sold to cover tax withholding obligations in connection with the vesting"

indirect ownership financial

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

Form 4 regulatory

"A Form 4 entry shows a holding line and a small disposition"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

transaction code F regulatory

"Transaction code F indicates payment of an exercise price or tax liability"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did GDYN CEO Leonard Livschitz report?

Leonard Livschitz reported a small insider transaction where 162 GDYN common shares were disposed of at $7.08 per share. The filing characterizes this as a tax-withholding disposition tied to restricted stock units, rather than an open-market buy or sell.

Why were 162 GDYN shares disposed of in this Form 4 filing?

The 162 GDYN shares were disposed of to cover tax withholding obligations from the vesting and settlement of restricted stock units. This type of Form 4 code F transaction is a mechanistic tax payment method, not a discretionary trading decision in the open market.

How many GDYN shares does Leonard Livschitz hold after the reported transactions?

After the reported transactions, Leonard Livschitz holds 3,391,496 GDYN common shares directly and 11,260 shares indirectly. The indirect holdings are attributed to his spouse, as noted in the Form 4 footnotes, providing context on the ownership structure.

Are the GDYN shares in this Form 4 held directly or indirectly by the CEO?

The Form 4 shows both direct and indirect GDYN holdings. Leonard Livschitz directly holds 3,391,496 common shares, while an additional 11,260 shares are held indirectly through his spouse, according to the ownership details and accompanying footnote disclosures.

Does the GDYN Form 4 filing indicate an open-market sale by the CEO?

The filing does not indicate an open-market sale. The 162-share disposition is coded F and described as covering tax withholding obligations on vested restricted stock units. This is a routine, non-discretionary tax-related transaction instead of a market-driven selling decision.

What does transaction code F mean in the GDYN CEO’s Form 4?

Transaction code F indicates payment of an exercise price or tax liability using company securities. In this GDYN Form 4, it reflects 162 shares delivered to satisfy tax withholding tied to restricted stock unit vesting, not a traditional open-market sale of stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/26/2026 - 04:12 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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.

6101 BOLLINGER CANYON ROAD, SUITE 465

(Street)

SAN RAMON CALIFORNIA 94583

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

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

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

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

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								3,391,496	D
Common Stock	05/22/2026		F		162(1)	D	$7.08	11,260	I	See footnote(2)

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. This transaction represents shares sold to cover tax withholding obligations in connection with the vesting and settlement of restricted stock units.

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

Remarks:

	/s/Anil Doradla, by power of attorney	05/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)