Elaina Shekhter - May 26, 2021 Form 4 Insider Report for EPAM Systems, Inc. (EPAM)

Role: SVP, Chief Marketing Officer
Signature: /s/ Kate Pytlewski as Attorney-in-Fact
Stock symbol: EPAM
Transactions as of: May 26, 2021
Transactions value $: -$1,981,443
Form type: 4
Date filed: 5/27/2021, 04:43 PM
Next filing: Jun 3, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	EPAM	EPAM Common Stock	Options Exercise	$235K	+3.83K	+60.9%	$61.38	10.1K	May 26, 2021	Direct
transaction	EPAM	EPAM Common Stock	Sale	-$1.84M	-3.83K	-37.85%	$480.03	6.28K	May 26, 2021	Direct	F1
transaction	EPAM	EPAM Common Stock	Options Exercise	$55.6K	+906	+14.42%	$61.38	7.19K	May 27, 2021	Direct
transaction	EPAM	EPAM Common Stock	Sale	-$435K	-906	-12.6%	$480.00	6.28K	May 27, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	EPAM	Employee Stock Option (right to buy)	Options Exercise	$0	-3.83K	-21.87%	$0.00	13.7K	May 26, 2021	EPAM Common Stock	3.83K	$61.38	Direct	F2
transaction	EPAM	Employee Stock Option (right to buy)	Options Exercise	$0	-906	-6.63%	$0.00	12.8K	May 27, 2021	EPAM Common Stock	906	$61.38	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $480.00 to $480.10, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to the Form 4.
F2	The option, representing a right to purchase a total of 17,500 shares, became exercisable as to 25% of the shares on each of March 23, 2016, 2017, 2018 and 2019.

Content

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $480.00 to $480.10, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to the Form 4.

The option, representing a right to purchase a total of 17,500 shares, became exercisable as to 25% of the shares on each of March 23, 2016, 2017, 2018 and 2019.