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Filing Details

Accession Number:: 0000904454-13-001022
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2013-09-17 17:33:28
Reporting Period:: 2013-09-13

Filing Date:: 2013-09-17
Accepted Time:: 2013-09-17 17:33:28
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1352010	Epam Systems Inc.	EPAM	Services-Computer Programming Services (7371)	223536104

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1538440	Donald Spencer	C/O Russia Partners 825 Third Avenue, 10Th Floor New York NY 10022		Yes	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2013-09-13	668,302	$33.00	7,109,810	No	4	S	Indirect	By Russia Partners II, LP
Common Stock	Disposition	2013-09-13	405,029	$33.00	4,308,958	No	4	S	Indirect	By Russia Partners II EPAM Fund, LP
Common Stock	Disposition	2013-09-13	19,814	$33.00	210,800	No	4	S	Indirect	By Russia Partners II EPAM Fund B, LP
Common Stock	Disposition	2013-09-13	31,855	$33.00	338,896	No	4	S	Indirect	By Russia Partners III, L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	By Russia Partners II, LP
No	4	S	Indirect	By Russia Partners II EPAM Fund, LP
No	4	S	Indirect	By Russia Partners II EPAM Fund B, LP
No	4	S	Indirect	By Russia Partners III, L.P.

Footnotes

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $33.00 to $33.12. The Reporting Person undertakes to provide to 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 ranges set forth in this footnote.
The amount listed reflects the beneficial ownership of the Issuer's securities by Russia Partners II, LP ("RP II"), all of which may be deemed attributable to Russia Partners Capital II M, LLC ("RP II GP"), because RP II GP is the sole general partner of RP II.
The amount listed reflects the beneficial ownership of the Issuer's securities by Russia Partners II EPAM Fund, LP ("RP II EPAM"), all of which may be deemed attributable to Russia Partners Capital II E, LLC ("RP II EPAM GP"), because RP II EPAM GP is the sole general partner of RP II EPAM.
The amount listed reflects the beneficial ownership of the Issuer's securities by Russia Partners II EPAM Fund B, LP ("RP II EPAM B"), all of which may be deemed attributable to RP II EPAM GP, because RP II EPAM GP is the sole general partner of RP II EPAM B.
The amount listed reflects the beneficial ownership of the Issuer's securities by Russia Partners III, L.P. ("RP III"), all of which may be deemed attributable to Russia Partners Capital III, LLC ("RP III GP"), because RP III GP is the sole general partner of RP III.
As a managing director of each of RP II GP, RP II EPAM GP and RP III GP, the Reporting Person may be deemed to have voting and investment control over the shares of Common Stock held by RP II, RP II EPAM, RP II EPAM B and RP III, however, the Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest, if any, therein, and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or any other purpose.