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

Rhea-AI Filing Summary

Grid Dynamics Holdings, Inc. (GDYN) reported an insider transaction on Form 4 for its Chief Executive Officer and director. On 11/24/2025, the reporting person had a transaction in 142 shares of common stock at $8.61 per share, coded as transaction type “F.”

After this activity, the reporting person beneficially owns 2,851,378 shares of GDYN common stock directly and 12,860 shares indirectly through a spouse, as noted in the footnote. The filing is made by one reporting person and includes the standard Rule 10b5‑1 plan checkbox disclosure language.

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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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 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)
11/24/2025

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								2,851,378	D
Common Stock	11/24/2025		F		142	D	$8.61	12,860	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	11/25/2025
	** 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 insider transaction did GDYN report on this Form 4?

The filing reports a transaction on 11/24/2025 involving 142 shares of Grid Dynamics Holdings, Inc. (GDYN) common stock at $8.61 per share, identified with transaction code F.

Who is the reporting person in the GDYN Form 4 filing?

The reporting person is a director and Chief Executive Officer of Grid Dynamics Holdings, Inc. (GDYN), as indicated in the relationship section of the form.

How many GDYN shares does the insider own after the reported transaction?

Following the reported activity, the insider beneficially owns 2,851,378 shares of GDYN common stock directly and 12,860 shares indirectly, with the indirect holdings attributed to the reporting person’s spouse.

What does the footnote in the GDYN Form 4 explain about ownership?

The footnote states that the shares are held by the reporting person’s spouse, clarifying the nature of the 12,860 indirectly owned shares.

Is the GDYN Form 4 filed by one or multiple reporting persons?

The form indicates it is a Form filed by one reporting person, not a joint or group filing.

Does the GDYN Form 4 mention Rule 10b5-1 trading plans?

The form includes a checkbox for transactions made under a Rule 10b5-1(c) trading plan and references Instruction 10, although the excerpt does not show whether the box is checked.