EPAM Enters Into $300 Million Accelerated Share Repurchase Agreement

Core Viewpoint - EPAM Systems, Inc. has entered into a $300 million accelerated share repurchase agreement with Morgan Stanley, reflecting the company's confidence in its long-term growth potential and current valuation [1] Group 1: Share Repurchase Agreement - The accelerated share repurchase (ASR) agreement allows EPAM to repurchase an aggregate of $300 million of its common stock, authorized under a $1.0 billion share repurchase program [1] - The company will make an initial payment of $300 million to Morgan Stanley and receive 1,703,336 shares, valued at $240 million based on the closing price on March 4, 2026 [1] - The final number of shares to be repurchased will be determined by the volume-weighted average share price during the ASR term, subject to adjustments [1] Group 2: Company Outlook and Strategy - The CEO of EPAM stated that the repurchase program demonstrates confidence in the company's long-term outlook and ability to generate sustained growth through its engineering foundation and AI market leadership [1] - The company believes its current valuation does not fully reflect its strength and future potential, viewing the ASR as a value-enhancing use of capital [1] - After the ASR, EPAM will have $452.5 million remaining under its current share repurchase authorization [1] Group 3: Company Profile - EPAM Systems is recognized as a global leader in AI transformation engineering and integrated consulting, serving Forbes Global 2000 companies and ambitious startups [1] - The company has over thirty years of expertise in custom software, product, and platform engineering, empowering organizations to become AI-native enterprises [1] - EPAM has received recognition from various industry benchmarks and is acknowledged as a "Most Loved Workplace" globally [1]