On April 16, 2024, EPAM Systems, Inc announced that it has received a shareholder proposal from John Chevedden regarding board to take all the steps necessary to reorganize the Board of Directors into one class with each director subject to election each year for a one-year term. Although management can adopt this proposal topic in one-year and one-year implementation is a best practice, this proposal allows the option to phase it in. In addition, the Company makes no voting recommendation to the proposal at its annual general meeting of shareholders scheduled to be held on May 31, 2024.