Kaspi.kz director sells 25,549 ADS in open-market trades

Q: What insider transaction did Kaspi.kz (KSPI) report for Vyacheslav Kim?

Kaspi.kz reported that director Vyacheslav Kim sold 25,549 American Depositary Shares in open-market transactions. These trades occurred on May 29 and June 1, 2026, and were disclosed on a Form 4 insider transaction report.

Q: At what prices did Vyacheslav Kim sell Kaspi.kz (KSPI) ADS?

The ADS sales were executed at weighted average prices within ranges disclosed in the filing. Individual trades spanned from about $89.175 to $94.407 per ADS, with multiple transactions occurring within narrower price bands on each trading date.

Q: Were the Kaspi.kz (KSPI) insider sales single trades or multiple transactions?

The sales were executed as multiple transactions at different prices. Footnotes explain that each reported price is a weighted average, and that detailed trade-by-trade pricing within stated ranges is available from the reporting person upon request.

Q: What type of security did Vyacheslav Kim trade in Kaspi.kz (KSPI)?

The transactions involved American Depositary Shares (ADS), each representing one common share of Kaspi.kz. The Form 4 notes that every ADS corresponds to a single underlying common share with no par value issued by the company.

Joint Stock Co Kaspi.kz director Vyacheslav Kim reported selling 25,549 American Depositary Shares (ADS) in open-market transactions on May 29 and June 1, 2026.

Accepted by SEC EDGAR 06/02/2026 - 08:00 PM EDT

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Rhea-AI Filing Summary

Joint Stock Co Kaspi.kz director Vyacheslav Kim reported selling 25,549 American Depositary Shares (ADS) in open-market transactions on May 29 and June 1, 2026. The ADS were sold at weighted average prices within disclosed ranges from $89.175 to $94.407 per ADS. Following these sales, he continued to directly own 38,519,185 ADS, indicating the transactions represent a small portion of his reported holdings.

Insider Trade Summary 10b5-1

Net Seller: 25,549 shares

Net Sell 6 txns

Insider Kim Vyacheslav

Role Director

Sold 25,549 shs ($2.31M)

Type	Security	Shares	Price	Value
Sale	American Depositary Shares, no par value	10,168	$90.604	$921K
Sale	American Depositary Shares, no par value	1,543	$91.318	$141K
Sale	American Depositary Shares, no par value	7,470	$89.724	$670K
Sale	American Depositary Shares, no par value	5,952	$90.608	$539K
Sale	American Depositary Shares, no par value	362	$94.407	$34K
Sale	American Depositary Shares, no par value	54	$92.80	$5K

Holdings After Transaction: American Depositary Shares, no par value — 38,519,185 contracts (Direct)

Holdings Before and After: American Depositary Shares, no par value, 38,544,734 to 38,519,185 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 $89.175 to $90.175, 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 $90.24 to $91.105, 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 $91.33 to $91.5575, 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 $90.14 to $91.095, 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 $91.16 to $91.47, 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

Shares sold: 25,549 ADS Holding after transactions: 38,519,185 ADS Sale price example: $91.318 per ADS +2 more

5 metrics

Shares sold 25,549 ADS Net open-market sales on May 29 and June 1, 2026

Holding after transactions 38,519,185 ADS Directly owned following June 1, 2026 sale

Sale price example $91.318 per ADS Weighted average price for a 1,543-ADS sale on June 1, 2026

Sale price range (low) $89.175 per ADS Lowest price in disclosed trade ranges

Sale price range (high) $94.407 per ADS Highest price in disclosed trade ranges

Key Terms

American Depositary Share (ADS), weighted average price, open-market sale, derivative, +1 more

5 terms

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.

derivative financial

"transaction_type: "derivative""

A derivative is a financial contract whose value depends on the price or performance of another asset or measure — for example a stock, index, interest rate, commodity, or currency. Investors use derivatives like insurance or leveraged bets to hedge risk, speculate, or gain exposure without owning the underlying asset; they can protect portfolios but also amplify losses and introduce counterparty and market risk.

beneficial ownership financial

"full information regarding the number of shares sold at each separate price within the range set forth in this footnote."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

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

What insider transaction did Kaspi.kz (KSPI) report for Vyacheslav Kim?

Kaspi.kz reported that director Vyacheslav Kim sold 25,549 American Depositary Shares in open-market transactions. These trades occurred on May 29 and June 1, 2026, and were disclosed on a Form 4 insider transaction report.

At what prices did Vyacheslav Kim sell Kaspi.kz (KSPI) ADS?

The ADS sales were executed at weighted average prices within ranges disclosed in the filing. Individual trades spanned from about $89.175 to $94.407 per ADS, with multiple transactions occurring within narrower price bands on each trading date.

How many Kaspi.kz (KSPI) shares does Vyacheslav Kim hold after these sales?

After the reported open-market sales, Vyacheslav Kim directly holds 38,519,185 American Depositary Shares of Kaspi.kz. This figure comes from the Form 4 totals reported following one of the June 1, 2026 transactions and shows he retains a large position.

Were the Kaspi.kz (KSPI) insider sales single trades or multiple transactions?

The sales were executed as multiple transactions at different prices. Footnotes explain that each reported price is a weighted average, and that detailed trade-by-trade pricing within stated ranges is available from the reporting person upon request.

What type of security did Vyacheslav Kim trade in Kaspi.kz (KSPI)?

The transactions involved American Depositary Shares (ADS), each representing one common share of Kaspi.kz. The Form 4 notes that every ADS corresponds to a single underlying common share with no par value issued by the company.

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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)
05/29/2026

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⁾	05/29/2026		S			7,470	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$89.724⁽²⁾	38,537,264	D
American Depositary Shares, no par value	⁽¹⁾	05/29/2026		S			5,952	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$90.608⁽³⁾	38,531,312	D
American Depositary Shares, no par value	⁽¹⁾	05/29/2026		S			362	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$94.407⁽⁴⁾	38,530,950	D
American Depositary Shares, no par value	⁽¹⁾	05/29/2026		S			54	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$92.8	38,530,896	D
American Depositary Shares, no par value	⁽¹⁾	06/01/2026		S			10,168	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$90.604⁽⁵⁾	38,520,728	D
American Depositary Shares, no par value	⁽¹⁾	06/01/2026		S			1,543	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$91.318⁽⁶⁾	38,519,185	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 $89.175 to $90.175, 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 $90.24 to $91.105, 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 $91.33 to $91.5575, 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 $90.14 to $91.095, 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 $91.16 to $91.47, 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	06/02/2026
	** 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