0001743725 false 0001743725 2021-06-04 2021-06-04 0001743725 GDYN:CommonStockParValue0.0001PerShareMember 2021-06-04 2021-06-04 0001743725 GDYN:RedeemableWarrantsExercisableForSharesOfCommonStockAtExercisePriceOf11.50PerShareMember 2021-06-04 2021-06-04 iso4217:USD xbrli:shares iso4217:USD xbrli:shares




Washington, D.C. 20549





Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): June 4, 2021



(Exact name of registrant as specified in its charter)


Delaware   001-38685   83-0632724
(State or other jurisdiction   (Commission   (I.R.S. Employer
of incorporation)   File Number)   Identification No.)


5000 Executive Parkway, Suite 520

San Ramon, CA 94583

(Address of principal executive offices)


Registrant’s telephone number, including area code: (650) 523-5000


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:


Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.0001 per share   GDYN   The NASDAQ Stock Market LLC
Redeemable warrants, exercisable for shares of common stock at an exercise price of $11.50 per share   GDYNW   The NASDAQ Stock Market LLC




Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.




Item 5.02. 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.







Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


  By: /s/ Anil Doradla
  Name: Anil Doradla
  Title: Chief Financial Officer




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