secwatch.observer — SEC 8-K summary
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Issuer:     EPAM Systems, Inc. (EPAM)
CIK:        0001352010
Form:       8-K
Filed at:   2025-06-26T23:59:59+00:00
Accession:  0001140361-25-023813
Event type: other
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

EPAM Systems adopts executive severance plan with cash and equity acceleration
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- Plan covers executive officers including CEO and CFO; effective June 23, 2025.
- Non-CIC severance: lump sum of 1x base salary plus target bonus, 12 months COBRA, time-based RSU acceleration for next 12 months.
- CIC severance: 1.5x (CEO: 2x) base salary plus target bonus, 18 (CEO: 24) months COBRA, full equity acceleration including performance awards at greater of target/actual.
- Benefits require execution of release and compliance with restrictive covenants; subject to clawback policy.
- Retirement-eligible executives (age 60+ with 5+ years and age+service >=70) also eligible for plan benefits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1352010/000114036125023813/0001140361-25-023813-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1352010/000114036125023813/ef20051011_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-023813

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