Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Shekhter Elaina
 2. Date of Event Requiring Statement (Month/Day/Year)
12/29/2015		 3. Issuer Name and Ticker or Trading Symbol
EPAM Systems, Inc. [EPAM]
(Last)
(First)
(Middle)
C/O EPAM SYSTEMS, INC., 41 UNIVERSITY DRIVE SUITE 202		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Marketing Officer
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEWTOWN, PA 18940		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
EPAM Common Stock 7,500 (1)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy)   (2) 03/19/2022 EPAM Common Stock 2,800 $ 16.8 D  
Employee Stock Option (right to buy)   (3) 05/24/2023 EPAM Common Stock 8,000 $ 23.04 D  
Employee Stock Option (right to buy)   (4) 03/31/2024 EPAM Common Stock 15,022 $ 32.08 D  
Employee Stock Option (right to buy)   (5) 03/23/2025 EPAM Common Stock 17,500 $ 61.38 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Shekhter Elaina
C/O EPAM SYSTEMS, INC.
41 UNIVERSITY DRIVE SUITE 202
NEWTOWN, PA 18940		       Chief Marketing Officer  

Signatures

/s/ Ginger Mosier, as Attorney-in-Fact 01/07/2016
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents (a) 4,000 restricted stock units that vested as to 25% of the shares on March 31, 2015 and are scheduled to vest as to 25% of the shares on each of March 31, 2016, 2017 and 2018; and (b) 3,500 restricted stock units that are scheduled to vest as to 25% of the shares on each of March 23, 2016, 2017, 2018 and 2019.
(2) The option, representing a right to purchase a total of 11,200 shares, became exercisable as to 25% of the shares on each of March 19, 2013, 2014 and 2015, and will become exercisable as to 25% of the shares on March 19, 2016.
(3) The option, representing a right to purchase a total of 16,000 shares, became exercisable as to 25% of the shares on March 19, 2014 and 2015, and will become exercisable as to 25% of the shares on each of March 19, 2016 and 2017.
(4) The option, representing a right to purchase a total of 20,000 shares, became exercisable as to 25% of the shares on March 31, 2015 and will become exercisable as to 25% of the shares on each of March 31, 2016, 2017 and 2018.
(5) The option, representing a right to purchase a total of 17,500 shares, will become exercisable as to 25% of the shares on each of March 23, 2016, 2017, 2018 and 2019.

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