[Form 4/A] Freedom Holding Corp. Amended Insider Trading Activity

Rhea-AI Filing Summary

Amber Williams, a director of Freedom Holding Corp. (FRHC), was awarded 757 restricted shares of common stock under the Company 2019 Equity Incentive Plan on September 15, 2025. The award was recorded on a Form 4/A and is shown with a grant price of $0. The filing states that, assuming satisfaction of applicable vesting conditions including continuous service, the shares vested on September 15, 2025. Following the reported transaction Ms. Williams is recorded as beneficially owning 757 shares in a direct ownership form.

Positive

• Director alignment with shareholders: Awarded restricted shares that vest with service, aligning director incentives with company performance
• Transparent disclosure: Filing amends and clarifies the grant and vesting, meeting Section 16 reporting requirements

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director received a modest, zero-cost restricted share award that vests on continued service; routine governance compensation disclosure.

The Form 4/A documents a standard equity grant to a director under the company's equity incentive plan. The award size (757 shares) is small in absolute terms and the grant price is reported as $0, consistent with restricted share awards intended for retention or alignment. Vesting is tied to continuous service and is stated to have occurred on the grant date, indicating either time-based vesting completed immediately or administrative reporting of vested shares. This disclosure is procedural and aligns with common director compensation practices; it does not in itself indicate material change to control or company capital structure.

Securities Analyst

TL;DR: Small equity grant to an insider with no cash outlay; likely immaterial to FRHC equity capitalization and investor valuation.

The report shows 757 shares acquired at a reported price of $0. There is no indication of derivative transactions, sales, or changes in larger holdings beyond these shares. For most public companies, an award of this magnitude is unlikely to affect outstanding share counts materially or signal substantive insider trading activity. The filing is a compliance disclosure under Section 16 and should be viewed as routine insider compensation reporting rather than a market-moving event.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Williams Amber

(Last) (First) (Middle)

324 SOUTH 400 WEST

SUITE 250

(Street)

SALT LAKE CITY UT 84101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Freedom Holding Corp. [ FRHC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
09/15/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/15/2025		A		757(1)	A	$0	757	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Ms. Williams was awarded 757 restricted shares of common stock of Freedom Holding Corp. (the "Company") on September 15, 2025, under the Company 2019 Equity Incentive Plan. Assuming satisfaction of applicable vesting conditions, which include continuous service with the Company, vesting of the shares occurred on September 15, 2025.

	/s/ Amber Williams	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Amber Williams report on the Form 4/A for FRHC?

The Form 4/A reports that Amber Williams was awarded 757 restricted shares of Freedom Holding Corp. common stock on September 15, 2025, with a reported grant price of $0.

Did the restricted shares awarded to Amber Williams vest immediately?

The filing states that, assuming satisfaction of applicable vesting conditions including continuous service, the shares vested on September 15, 2025.

How many shares does Amber Williams beneficially own after the transaction?

Following the reported transaction the Form 4/A shows Amber Williams as beneficially owning 757 shares in a direct ownership form.

Was there any cash paid for the restricted shares?

The Form 4/A reports a grant price of $0, indicating no cash payment was made for the awarded restricted shares.

Does this Form 4/A report any derivative transactions or options?

No. Table II lists no derivative securities; the filing only discloses a non-derivative restricted share award.