What do the GDYN Form 4 footnotes say about the CEO’s indirect share ownership?

The footnotes state that 11,260 GDYN shares are held by Leonard Livschitz’s spouse. These are reported as indirectly owned, clarifying that a portion of his overall reported holdings is maintained through a related person rather than directly in his own name.

GDYN (GDYN) CEO reports 35,968-share tax-withholding disposition, retains over 3.3M shares

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

GRID DYNAMICS HOLDINGS, INC. director and chief executive officer Leonard Livschitz reported routine share movements related to equity compensation. The filing shows that 35,968 shares of common stock were disposed of at $6.24 per share as part of a tax-withholding transaction.

According to the footnotes, these shares were withheld by the company to satisfy tax withholding and remittance obligations tied to the net settlement of restricted stock units, not sold in the open market. After this event, Livschitz holds 3,355,528 common shares directly and 11,260 shares indirectly through his spouse.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Livschitz Leonard

Role CHIEF EXECUTIVE OFFICER

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	35,968	$6.24	$224K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 3,355,528 shares (Direct, null); Common Stock — 11,260 shares (Indirect, See footnote)

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

Key Figures

Tax-withheld shares: 35,968 shares Tax-withholding price: $6.24 per share Direct holdings after transaction: 3,355,528 shares +1 more

4 metrics

Tax-withheld shares 35,968 shares Common Stock withheld for tax obligations at $6.24 per share

Tax-withholding price $6.24 per share Price used for 35,968-share tax-withholding disposition

Direct holdings after transaction 3,355,528 shares Common Stock directly owned by Leonard Livschitz following transaction

Indirect holdings via spouse 11,260 shares Common Stock held by reporting person’s spouse

Key Terms

restricted stock units, tax withholding, net settlement, indirect ownership

4 terms

restricted stock units financial

"in connection with net 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 financial

"withheld by the Issuer to satisfy tax withholding and remittance obligations"

Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.

net settlement financial

"in connection with net settlement of restricted stock units"

indirect ownership financial

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:18 PM Accepted by SEC EDGAR 07/02/2026 - 04:17 PM

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)
07/02/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	07/02/2026		F		35,968⁽¹⁾	D	$6.24	3,355,528	D
Common Stock								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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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.

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

Remarks:

	/s/Anil Doradla, by power of attorney	07/02/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did GDYN CEO Leonard Livschitz report on this Form 4?

Leonard Livschitz reported a tax-related share disposition on this Form 4. The company withheld 35,968 common shares at $6.24 per share to cover tax obligations from net-settled restricted stock units, rather than an open-market share sale.

How many GRID DYNAMICS (GDYN) shares were withheld for taxes in this filing?

The filing shows 35,968 GDYN common shares were withheld for taxes. These shares were used to satisfy withholding and remittance obligations from restricted stock unit settlement, reflecting a compensation-related event rather than an ordinary market transaction or discretionary share sale.

How many GDYN shares does Leonard Livschitz hold after this reported transaction?

After the tax-withholding transaction, Leonard Livschitz holds 3,355,528 GDYN common shares directly. He also has 11,260 additional shares reported as indirectly owned through his spouse, giving a substantial ongoing equity position following this compensation-related event.

Was the GDYN CEO’s Form 4 transaction an open-market sale of shares?

No, the Form 4 describes a tax-withholding disposition, not an open-market sale. The company withheld 35,968 shares to meet tax obligations linked to restricted stock units, meaning the shares were used for taxes rather than sold to public market buyers.