EPAM Systems, Inc. (EPAM), a digital and AI transformation company, announced that it has entered into an accelerated share repurchase agreement (ASR) with Morgan Stanley & Co. LLC to repurchase an aggregate of $300 million of its common stock. The ASR was authorized under the Company's existing $1.0 billion share repurchase authorization.
Under the terms of the ASR, the Company will make a payment of $300 million to Morgan Stanley and receive from Morgan Stanley an initial share delivery of 1.70 million shares, or $240 million worth based on the closing price on March 4, 2026.
The final number of shares of the Company's common stock to be repurchased under the ASR will be determined on completion of the ASR no later than the second quarter of 2026.
After giving effect to this ASR, the Company has $452.5 million of remaining availability under its current share repurchase authorization.
In Thursday's pre-market trading, EPAM is trading on the NYSE at $142.00, up $1.11 or 0.79 percent.
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