Kaspi.kz director sells 24,495 ADSs in open market

Q: What insider transaction did Vyacheslav Kim report for KSPI?

Director Vyacheslav Kim reported a series of open‑market sales of Kaspi.kz American Depositary Shares. Across seven transactions, he sold a total of 24,495 ADSs, each representing one common share of Joint Stock Co Kaspi.kz.

Q: How many Kaspi.kz (KSPI) ADSs did Vyacheslav Kim sell in this Form 4?

He sold 24,495 American Depositary Shares of Kaspi.kz. These shares were disposed of through multiple open‑market transactions over several days, as detailed in the Form 4 insider trading report.

Q: Over what dates were the KSPI insider sales by Vyacheslav Kim executed?

The reported sales occurred on July 10, 13, and 14, 2026. On each of these dates, Kim executed open‑market transactions in Kaspi.kz American Depositary Shares at various prices within disclosed ranges.

Q: How many individual sale transactions did KSPI director Vyacheslav Kim report?

He reported seven separate open‑market sale transactions in Kaspi.kz American Depositary Shares. Each transaction has its own trade date and weighted average sale price disclosed in the Form 4 data.

Joint Stock Co Kaspi.kz director Vyacheslav Kim reported open‑market sales totaling 24,495 American Depositary Shares between July 10 and 14, 2026.

Accepted by SEC EDGAR 07/14/2026 - 07:09 PM EDT

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Rhea-AI Filing Summary

Joint Stock Co Kaspi.kz director Vyacheslav Kim reported open‑market sales totaling 24,495 American Depositary Shares between July 10 and 14, 2026. The ADSs were sold in multiple transactions at weighted average prices within ranges from $88.522 to $91.60 per ADS. Each ADS represents one common share.

Insider Trade Summary 10b5-1

Net Seller: 24,495 shares

Net Sell 7 txns

Insider Kim Vyacheslav

Role Director

Sold 24,495 shs ($2.20M)

Type	Security	Shares	Price	Value
Sale	American Depositary Shares, no par value ^{F1, F7}	9,645	$89.65	$865K
Sale	American Depositary Shares, no par value ^{F1, F8}	1,546	$90.354	$140K
Sale	American Depositary Shares, no par value ^{F1, F4}	3,645	$89.046	$325K
Sale	American Depositary Shares, no par value ^{F1, F5}	2,109	$90.087	$190K
Sale	American Depositary Shares, no par value ^{F1, F6}	1,330	$91.004	$121K
Sale	American Depositary Shares, no par value ^{F1, F2}	5,070	$89.673	$455K
Sale	American Depositary Shares, no par value ^{F1, F3}	1,150	$90.088	$104K

Holdings After Transaction: American Depositary Shares, no par value — 38,004,703 contracts (Direct)

Holdings Before and After: American Depositary Shares, no par value, 38,029,198 to 38,004,703 contracts (Direct)

Footnotes (8)

F1. Each American Depositary Share (ADS) represents one common share of the issuer.
F2. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $89.00 to $89.9575, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F3. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $90.01 to $90.225, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $88.522 to $89.50, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $89.54 to $90.41, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F6. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $90.69 to $91.60, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F7. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $89.145 to $90.10, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F8. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $90.165 to $90.56, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Key Figures

ADSs sold: 24,495 ADSs Number of sale transactions: 7 Lowest reported sale price: $88.522 per ADS +2 more

5 metrics

ADSs sold 24,495 ADSs Total American Depositary Shares sold across reported transactions

Number of sale transactions 7 Total open-market sale transactions reported in transactionSummary

Lowest reported sale price $88.522 per ADS Lower bound of disclosed price ranges for weighted-average sale prices

Highest reported sale price $91.60 per ADS Upper bound of disclosed price ranges for weighted-average sale prices

Directly owned ADSs after a sale 38,004,703 ADSs Shares reported as directly owned after one sale on July 14, 2026

Key Terms

American Depositary Shares, weighted average price, open-market sale

3 terms

American Depositary Shares financial

"security_title: American Depositary Shares, no par value"

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

weighted average price financial

"The price reported in Column 8 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open-market sale financial

"transaction_action: open-market sale"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Vyacheslav Kim report for KSPI?

Director Vyacheslav Kim reported a series of open‑market sales of Kaspi.kz American Depositary Shares. Across seven transactions, he sold a total of 24,495 ADSs, each representing one common share of Joint Stock Co Kaspi.kz.

How many Kaspi.kz (KSPI) ADSs did Vyacheslav Kim sell in this Form 4?

He sold 24,495 American Depositary Shares of Kaspi.kz. These shares were disposed of through multiple open‑market transactions over several days, as detailed in the Form 4 insider trading report.

Over what dates were the KSPI insider sales by Vyacheslav Kim executed?

The reported sales occurred on July 10, 13, and 14, 2026. On each of these dates, Kim executed open‑market transactions in Kaspi.kz American Depositary Shares at various prices within disclosed ranges.

At what prices were Kaspi.kz (KSPI) ADSs sold by Vyacheslav Kim?

The ADSs were sold at weighted average prices within ranges from $88.522 to $91.60 per share. Each reported transaction reflects a weighted average across multiple individual trades inside the stated price bands.

What does each Kaspi.kz ADS represent in Vyacheslav Kim’s Form 4?

Each American Depositary Share (ADS) represents one common share of Joint Stock Co Kaspi.kz. The reported 24,495 ADSs sold therefore correspond to the same number of underlying common shares of the issuer.

How many individual sale transactions did KSPI director Vyacheslav Kim report?

He reported seven separate open‑market sale transactions in Kaspi.kz American Depositary Shares. Each transaction has its own trade date and weighted average sale price disclosed in the Form 4 data.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kim Vyacheslav

(Last)

(First)

(Middle)

154A NAURYZBAI BATYR STREET

(Street)

ALMATY

050013

(City)

(State)

(Zip)

KAZAKSTAN

(Country)

2. Issuer Name and Ticker or Trading Symbol
Joint Stock Co Kaspi.kz [ KSPI ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
American Depositary Shares, no par value	⁽¹⁾	07/10/2026		S			5,070	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$89.673⁽²⁾	38,024,128	D
American Depositary Shares, no par value	⁽¹⁾	07/10/2026		S			1,150	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$90.088⁽³⁾	38,022,978	D
American Depositary Shares, no par value	⁽¹⁾	07/13/2026		S			3,645	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$89.046⁽⁴⁾	38,019,333	D
American Depositary Shares, no par value	⁽¹⁾	07/13/2026		S			2,109	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$90.087⁽⁵⁾	38,017,224	D
American Depositary Shares, no par value	⁽¹⁾	07/13/2026		S			1,330	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$91.004⁽⁶⁾	38,015,894	D
American Depositary Shares, no par value	⁽¹⁾	07/14/2026		S			9,645	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$89.65⁽⁷⁾	38,006,249	D
American Depositary Shares, no par value	⁽¹⁾	07/14/2026		S			1,546	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$90.354⁽⁸⁾	38,004,703	D

Explanation of Responses:

1. Each American Depositary Share (ADS) represents one common share of the issuer.

2. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $89.00 to $89.9575, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the U.S. Securities and Exchange Commission ("SEC"), upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $90.01 to $90.225, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

4. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $88.522 to $89.50, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $89.54 to $90.41, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $90.69 to $91.60, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

7. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $89.145 to $90.10, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

8. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $90.165 to $90.56, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

Due to the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b) under the Securities Exchange Act of 1934 (the "Act"), the reporting person's transactions in the issuer's equity securities are exempt from Sections 16(b) and 16(c) of the Act.

	/s/ Yuri Didenko, as attorney-in-fact for Vyacheslav Kim	07/14/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR