Grid Dynamics Holdings Inc.

06/10/2021 | Press release | Distributed by Public on 06/10/2021 14:06

Management Change/Compensation (Form 8-K)

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On June 4, 2021, Victoria Livschitz informed Grid Dynamics Holdings, Inc. (the 'Company') that she would resign as Executive Vice President of Customer Success, effective June 15, 2021. It is expected that an entity controlled by Ms. Livschitz will enter into a consulting agreement with the Company, effective June 16, 2021 through June 30, 2022 (the 'Agreement'), whereby Ms. Livschitz will continue to work on behalf of the Company with certain strategic accounts mutually agreed from time to time. Pursuant to the Agreement, Ms. Livschitz would be paid a monthly retainer of $20,000, would be eligible to receive quarterly incentive payments based on revenue growth of strategic accounts with which she works, and would be reimbursed for health insurance coverage for up to approximately one year. Ms. Livschitz would also be eligible to be granted a performance share award with a target amount equal to 24,282 shares on the same terms as other executives during fiscal 2021. In the event that the Agreement is terminated prior to June 30, 2022, certain of these benefits may be prorated as specified in the Agreement.