What does each KSPI American Depositary Share represent in this Form 4?

Each KSPI American Depositary Share (ADS) represents one common share of Joint Stock Co Kaspi.kz. This means the reported 50,000 ADS sold by Yuri Didenko correspond to 50,000 underlying common shares of the issuer.

Kaspi.kz officer sells 50K ADSs near $99

Q: What insider transactions did KSPI report for Yuri Didenko in this Form 4?

KSPI reported that officer Yuri Didenko sold a total of 50,000 ADS of Joint Stock Co Kaspi.kz in open-market transactions. The sales occurred over three days in August 2026 at reported per-share prices between $98.33 and $99.50.

Q: Over what period were the KSPI shares sold by Yuri Didenko, and at what prices?

The reported KSPI ADS sales by Yuri Didenko took place on August 17, 18, and 19, 2026. Individual transactions were reported at weighted average prices from $98.33 to $99.50 per ADS, with additional intra-day price ranges described in the footnotes.

Q: How many KSPI ADS did Yuri Didenko sell on each reported date?

On August 17, 2026, Didenko sold 18,066 ADS; on August 18, 2026, he sold 29,162 ADS; and on August 19, 2026, he sold 2,772 ADS. This totals 50,000 ADS of Joint Stock Co Kaspi.kz.

Q: How does KSPI’s foreign private issuer status affect this Form 4?

Joint Stock Co Kaspi.kz is a foreign private issuer, so these transactions are disclosed but are exempt from Sections 16(b) and 16(c) of the U.S. Exchange Act. That exemption relates to certain short-swing profit and short-sale restrictions normally applied to U.S. domestic issuers.

Joint Stock Co Kaspi.kz (KSPI) reported that officer Yuri Didenko, Deputy Chair (Capital Markets), sold a total of 50,000 American Depositary Shares (ADS) in open-market transactions on August 17–19, 2026.

Filing Impact

(Neutral)

Filing Sentiment

(Negative)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Joint Stock Co Kaspi.kz (KSPI) reported that officer Yuri Didenko, Deputy Chair (Capital Markets), sold a total of 50,000 American Depositary Shares (ADS) in open-market transactions on August 17–19, 2026. Reported per-share prices ranged from $98.33 to $99.50, and each ADS represents one common share. The transactions are indicated as made under a Rule 10b5-1 trading plan and, as the issuer is a foreign private issuer, they are exempt from certain U.S. Section 16(b) and 16(c) short-swing profit rules.

Insider Trade Summary 10b5-1

Net Seller: 50,000 shares

Net Sell 5 txns

Insider Didenko Yuri

Role Deputy Chair (Cap. Markets)

Sold 50,000 shs ($4.93M)

Type	Security	Shares	Price	Value
Sale	American Depositary Shares, no par value ^{F1, F6}	2,772	$99.07	$275K
Sale	American Depositary Shares, no par value ^{F1, F4}	27,562	$98.33	$2.71M
Sale	American Depositary Shares, no par value ^{F1, F5}	1,600	$99.05	$158K
Sale	American Depositary Shares, no par value ^{F1, F2}	17,666	$98.75	$1.74M
Sale	American Depositary Shares, no par value ^{F1, F3}	400	$99.50	$40K

Holdings After Transaction: American Depositary Shares, no par value — 1,788,378 contracts (Direct)

Footnotes (6)

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 $98.4 to $99.4, 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 $99.43 to $99.69, 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 $98 to $99, 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 $99.01 to $99.25, 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 $99 to $99.21, 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 ADS sold: 50,000 ADS ADS sold on 2026-08-17: 18,066 ADS ADS sold on 2026-08-18: 29,162 ADS +3 more

6 metrics

Total ADS sold 50,000 ADS Aggregate of all reported transactions by Yuri Didenko in August 2026

ADS sold on 2026-08-17 18,066 ADS Two sale transactions of 17,666 and 400 ADS

ADS sold on 2026-08-18 29,162 ADS Two sale transactions of 27,562 and 1,600 ADS

ADS sold on 2026-08-19 2,772 ADS Single sale transaction

Reported per-share sale prices $98.33–$99.50 per ADS Range of weighted average prices across all sale transactions

ADS-to-share ratio 1 ADS = 1 common share Each American Depositary Share represents one common share of the issuer

Key Terms

American Depositary Shares, foreign private issuer, Section 16(b), weighted average price

4 terms

American Depositary Shares financial

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

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.

foreign private issuer regulatory

"Due to the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b)"

A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.

Section 16(b) regulatory

"equity securities are exempt from Sections 16(b) and 16(c) of the Act"

A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.

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.

FAQ

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

What insider transactions did KSPI report for Yuri Didenko in this Form 4?

KSPI reported that officer Yuri Didenko sold a total of 50,000 ADS of Joint Stock Co Kaspi.kz in open-market transactions. The sales occurred over three days in August 2026 at reported per-share prices between $98.33 and $99.50.

Over what period were the KSPI shares sold by Yuri Didenko, and at what prices?

The reported KSPI ADS sales by Yuri Didenko took place on August 17, 18, and 19, 2026. Individual transactions were reported at weighted average prices from $98.33 to $99.50 per ADS, with additional intra-day price ranges described in the footnotes.

How many KSPI ADS did Yuri Didenko sell on each reported date?

On August 17, 2026, Didenko sold 18,066 ADS; on August 18, 2026, he sold 29,162 ADS; and on August 19, 2026, he sold 2,772 ADS. This totals 50,000 ADS of Joint Stock Co Kaspi.kz.

Were Yuri Didenko’s KSPI sales made under a Rule 10b5-1 trading plan?

Yes. The filing indicates that the transactions were effected under a Rule 10b5-1 trading plan. Such plans are pre-arranged trading programs that can allow insiders to sell shares according to preset conditions, reducing the significance of trade timing as an informational signal.

How does KSPI’s foreign private issuer status affect this Form 4?

Joint Stock Co Kaspi.kz is a foreign private issuer, so these transactions are disclosed but are exempt from Sections 16(b) and 16(c) of the U.S. Exchange Act. That exemption relates to certain short-swing profit and short-sale restrictions normally applied to U.S. domestic issuers.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 08/19/2026 - 05:33 PM EDT

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^*

Didenko Yuri

(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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Deputy Chair (Cap. Markets)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/17/2026

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⁾	08/17/2026		S			17,666	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$98.75⁽²⁾	1,820,712	D
American Depositary Shares, no par value	⁽¹⁾	08/17/2026		S			400	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$99.5⁽³⁾	1,820,312	D
American Depositary Shares, no par value	⁽¹⁾	08/18/2026		S			27,562	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$98.33⁽⁴⁾	1,792,750	D
American Depositary Shares, no par value	⁽¹⁾	08/18/2026		S			1,600	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$99.05⁽⁵⁾	1,791,150	D
American Depositary Shares, no par value	⁽¹⁾	08/19/2026		S			2,772	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$99.07⁽⁶⁾	1,788,378	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 $98.4 to $99.4, 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 $99.43 to $99.69, 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 $98 to $99, 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 $99.01 to $99.25, 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 $99 to $99.21, 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	08/19/2026
	** 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