Kaspi.kz (KSPI) director Vyacheslav Kim sells 61,971 ADS in trades

Q: Over what dates did Vyacheslav Kim sell Kaspi.kz (KSPI) ADSs?

The reported sales occurred on June 22, 23 and 24, 2026. Across these three trading days, the director executed multiple open-market transactions in ADSs, each recorded separately with its own share amount and weighted average sale price.

Q: How many Kaspi.kz (KSPI) ADSs did the director sell in total?

The Form 4 shows total net sales of 61,971 ADSs. This aggregate comes from eight separate open-market sale transactions, each with its own quantity and weighted average price, as summarized in the filing’s transaction overview section.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Joint Stock Co Kaspi.kz director Vyacheslav Kim reported selling 61,971 American Depositary Shares (ADSs) in open-market transactions. The trades occurred on June 22–24 2026 at prices generally in the low-to-high $80s per ADS. Each ADS represents one common share of the issuer. The filing shows multiple small blocks sold across different price ranges, using weighted average prices for reporting. Following one of the reported trades, his direct holdings were 38,166,123 ADSs, so the disclosed sales represent only a small fraction of his overall position.

Insider Trade Summary 10b5-1

Net Seller: 61,971 shares ($5,274,028)

Net Sell 8 txns

Insider Kim Vyacheslav

Role null

Sold 61,971 shs ($5.27M)

Type	Security	Shares	Price	Value
Sale	American Depositary Shares, no par value	14,940	$85.785	$1.28M
Sale	American Depositary Shares, no par value	5,917	$87.003	$515K
Sale	American Depositary Shares, no par value	3,912	$87.573	$343K
Sale	American Depositary Shares, no par value	14,637	$83.45	$1.22M
Sale	American Depositary Shares, no par value	162	$84.142	$14K
Sale	American Depositary Shares, no par value	3,293	$82.548	$272K
Sale	American Depositary Shares, no par value	8,008	$84.872	$680K
Sale	American Depositary Shares, no par value	11,102	$85.43	$948K

Holdings After Transaction: American Depositary Shares, no par value — 38,175,952 shares (Direct, null)

Footnotes (1)

Each American Depositary Share (ADS) represents one common share of the issuer. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $82.22 to $82.93, 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. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $84.09 to $85.09, 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. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $85.13 to $86.09, 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. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $82.845 to $83.82, 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. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $84.00 to $84.31, 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. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $85.38 to $86.34, 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. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $86.405 to $87.405, 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. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $87.42 to $87.90, 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

Total ADSs sold: 61,971 ADSs Largest single block sold: 14,940 ADSs at $85.785 Holding after a transaction: 38,166,123 ADSs +3 more

6 metrics

Total ADSs sold 61,971 ADSs Net sales across eight open-market transactions

Largest single block sold 14,940 ADSs at $85.785 Open-market sale on June 24, 2026

Holding after a transaction 38,166,123 ADSs Direct shares reported following one sale

Sale price example $87.573 per ADS One June 24, 2026 open-market sale of 3,912 ADSs

Footnote price range low $82.22–$82.93 Weighted average sale price range for certain ADSs

Footnote price range high $87.42–$87.90 Weighted average sale price range for certain ADSs

Key Terms

American Depositary Shares, open-market sale, weighted average price, derivative transaction, +1 more

5 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.

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.

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.

derivative transaction financial

"transaction_type: "derivative""

Column 8 financial

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/24/2026 - 08:59 PM Accepted by SEC EDGAR 06/24/2026 - 08:59 PM

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)
06/22/2026

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⁾	06/22/2026		S			3,293	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$82.548⁽²⁾	38,224,801	D
American Depositary Shares, no par value	⁽¹⁾	06/22/2026		S			8,008	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$84.872⁽³⁾	38,216,793	D
American Depositary Shares, no par value	⁽¹⁾	06/22/2026		S			11,102	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$85.43⁽⁴⁾	38,205,691	D
American Depositary Shares, no par value	⁽¹⁾	06/23/2026		S			14,637	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$83.45⁽⁵⁾	38,191,054	D
American Depositary Shares, no par value	⁽¹⁾	06/23/2026		S			162	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$84.142⁽⁶⁾	38,190,892	D
American Depositary Shares, no par value	⁽¹⁾	06/24/2026		S			14,940	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$85.785⁽⁷⁾	38,175,952	D
American Depositary Shares, no par value	⁽¹⁾	06/24/2026		S			5,917	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$87.003⁽⁸⁾	38,170,035	D
American Depositary Shares, no par value	⁽¹⁾	06/24/2026		S			3,912	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$87.573⁽⁹⁾	38,166,123	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 $82.22 to $82.93, 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 $84.09 to $85.09, 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 $85.13 to $86.09, 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 $82.845 to $83.82, 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 $84.00 to $84.31, 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 $85.38 to $86.34, 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 $86.405 to $87.405, 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.

9. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $87.42 to $87.90, 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	06/24/2026
	** 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

FAQ

What insider transaction did Kaspi.kz (KSPI) disclose in this Form 4?

Kaspi.kz disclosed that director Vyacheslav Kim sold 61,971 ADSs. The Form 4 reports several open-market sale transactions in American Depositary Shares over three days, showing detailed share counts and weighted average prices for each sale block.

Over what dates did Vyacheslav Kim sell Kaspi.kz (KSPI) ADSs?

The reported sales occurred on June 22, 23 and 24, 2026. Across these three trading days, the director executed multiple open-market transactions in ADSs, each recorded separately with its own share amount and weighted average sale price.

How many Kaspi.kz (KSPI) ADSs did the director sell in total?

The Form 4 shows total net sales of 61,971 ADSs. This aggregate comes from eight separate open-market sale transactions, each with its own quantity and weighted average price, as summarized in the filing’s transaction overview section.

What price range did Kaspi.kz (KSPI) ADSs sell for in these insider trades?

The sales were executed at weighted average prices in the low-to-high $80s. Footnotes specify that individual trades occurred within ranges such as $82.22–$82.93 and up to $87.42–$87.90, with the reported prices representing weighted averages for each block.

What are Kaspi.kz (KSPI) American Depositary Shares as reported in the Form 4?

Each Kaspi.kz American Depositary Share represents one common share. A footnote clarifies that every ADS corresponds directly to a single underlying common share of the issuer, so the reported ADS sales equal the same number of common shares.

How many Kaspi.kz (KSPI) ADSs did the director hold after these transactions?

One reported post-transaction holding figure is 38,166,123 ADSs. This total appears as the direct ownership amount following one of the sale transactions, indicating the director continues to hold a very large position after the reported sales.