Grid Dynamics Announces Board Changes and Executive Compensation Updates
Ticker: GDYN · Form: 8-K · Filed: Oct 24, 2024 · CIK: 1743725
| Field | Detail |
|---|---|
| Company | Grid Dynamics Holdings, Inc. (GDYN) |
| Form Type | 8-K |
| Filed Date | Oct 24, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $310,000, $350,000, $165,000, $175,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, director-appointment, director-departure
Related Tickers: GDYN
TL;DR
GDYN board shakeup: La Blanc out, Hearn & Dorman in. New exec comp details filed.
AI Summary
On October 24, 2024, Grid Dynamics Holdings, Inc. filed an 8-K to report changes in its board of directors and executive compensation. Specifically, the company announced the departure of director Robert M. La Blanc and the appointment of new directors, including John P. Hearn and David M. Dorman. The filing also details compensatory arrangements for certain officers.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Board and executive changes can introduce uncertainty regarding future strategy and leadership stability.
Key Players & Entities
- Grid Dynamics Holdings, Inc. (company) — Registrant
- Robert M. La Blanc (person) — Departing Director
- John P. Hearn (person) — Appointed Director
- David M. Dorman (person) — Appointed Director
- October 24, 2024 (date) — Date of Report
FAQ
Who has departed from Grid Dynamics' board of directors?
Robert M. La Blanc has departed from the board of directors.
Who are the newly appointed directors at Grid Dynamics?
John P. Hearn and David M. Dorman have been appointed as new directors.
What is the exact date of this 8-K filing?
The filing date is October 24, 2024.
What specific items are being reported in this 8-K filing?
The filing reports the departure of directors, election of directors, appointment of officers, and compensatory arrangements of certain officers.
What is the principal executive office address for Grid Dynamics?
The principal executive office is located at 5000 Executive Parkway, Suite 520, San Ramon, CA 94583.
Filing Stats: 404 words · 2 min read · ~1 pages · Grade level 12.6 · Accepted 2024-10-24 16:15:45
Key Financial Figures
- $0.0001 — ich registered Common Stock, par value $0.0001 per share GDYN The NASDAQ Stock Marke
- $310,000 — Company's Chief Financial Officer, from $310,000 to $350,000 per annum, effective as of
- $350,000 — ief Financial Officer, from $310,000 to $350,000 per annum, effective as of October 1, 2
- $165,000 — rget performance bonus opportunity from $165,000 to $175,000. SIGNATURE Pursuant to th
- $175,000 — ance bonus opportunity from $165,000 to $175,000. SIGNATURE Pursuant to the requiremen
Filing Documents
- g80372901.htm (8-K) — 14KB
- 0000899140-24-001109.txt ( ) — 16KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): October 24, 2024 GRID DYNAMICS HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 001-38685 83-0632724 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer 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 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 October 21, 2024, the Company's Compensation Committee (the "Committee") approved an increase in the base salary of Mr. Anil Doradla, the Company's Chief Financial Officer, from $310,000 to $350,000 per annum, effective as of October 1, 2024. The Committee also approved an increase in Mr. Doradla's annual target performance bonus opportunity from $165,000 to $175,000. SIGNATURE 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. Dated: October 24, 2024 GRID DYNAMICS HOLDINGS, INC. By: /s/ Anil Doradla Name: Anil Doradla Title: Chief Financial Officer