Kaspi.kz (KSPI) director gifts 17,778 ADSs, moving stake into family trust

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Joint Stock Co Kaspi.kz director Alina Prawdzik reported a non-cash reclassification of her holdings through a gift transfer. On May 12, 2026, she transferred 17,778 American Depositary Shares (ADSs) for no consideration to a trust where she and an immediate family member are settlors and sole beneficiaries.

The filing describes this as a bona fide gift and a change from direct to indirect ownership, with the trust now holding 17,778 ADSs. Each ADS represents one common share, and the transaction does not reflect an open-market purchase or sale.

Insider Trade Summary

35,556 shares gifted

Mixed 2 txns

Insider Prawdzik Alina

Role null

Type	Security	Shares	Price	Value
Gift	American Depositary Shares, no par value	17,778	$0.00	--
Gift	American Depositary Shares, no par value	17,778	$0.00	--

Holdings After Transaction: American Depositary Shares, no par value — 0 shares (Direct, null); American Depositary Shares, no par value — 17,778 shares (Indirect, By trust)

Footnotes (1)

Each American Depositary Share (ADS) represents one common share of the issuer. On May 12, 2026, the reporting person transferred 17,778 ADSs for no consideration to a trust of which she and one of her immediate family members are the settlors and sole beneficiaries. The reporting person retains pecuniary interest in the securities held by the trust and thus is reporting the transaction as a change from direct ownership to indirect ownership. The reporting person disclaims beneficial ownership of such securities, except to the extent of her pecuniary interest therein.

Key Figures

ADSs gifted to trust: 17,778 ADSs Total gift shares in summary: 35,556 ADSs Price per ADS in gift: $0.00 per ADS +1 more

4 metrics

ADSs gifted to trust 17,778 ADSs Gift transfer on May 12, 2026

Total gift shares in summary 35,556 ADSs Aggregate giftShares across both derivative records

Price per ADS in gift $0.00 per ADS No consideration for the bona fide gift

ADSs indirectly owned after transfer 17,778 ADSs Held by trust following transaction

Key Terms

American Depositary Shares, bona fide gift, pecuniary interest, indirect ownership

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.

bona fide gift financial

"transaction_code_description: "Bona fide gift" for the reported transfer."

A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.

pecuniary interest financial

"The reporting person retains pecuniary interest in the securities held by the trust."

indirect ownership financial

"reporting the transaction as a change from direct ownership to indirect ownership."

Form 4 Insider Transactions: What Each Field Means →

05/14/2026 - 06:07 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^*

Prawdzik Alina

(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)
05/12/2026

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⁾	05/12/2026		G⁽²⁾			17,778	⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$0	0	D
American Depositary Shares, no par value	⁽¹⁾	05/12/2026		G⁽²⁾		17,778		⁽¹⁾	⁽¹⁾	Common Shares, no par value	⁽¹⁾	$0	17,778	I	By trust

Explanation of Responses:

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

2. On May 12, 2026, the reporting person transferred 17,778 ADSs for no consideration to a trust of which she and one of her immediate family members are the settlors and sole beneficiaries. The reporting person retains pecuniary interest in the securities held by the trust and thus is reporting the transaction as a change from direct ownership to indirect ownership. The reporting person disclaims beneficial ownership of such securities, except to the extent of her pecuniary interest therein.

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 Alina Prawdzik	05/14/2026
	** 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

FAQ

What insider transaction did KSPI director Alina Prawdzik report?

Director Alina Prawdzik reported a bona fide gift transfer of 17,778 American Depositary Shares on May 12, 2026. The shares were moved from her direct ownership into a trust structure, without any cash consideration changing hands.

How many Kaspi.kz (KSPI) ADSs were transferred in this Form 4 filing?

The Form 4 shows a transfer of 17,778 American Depositary Shares. These ADSs moved from direct ownership to a trust, and the filing characterizes the transaction as a gift rather than a market trade involving a purchase or sale.

Did Kaspi.kz (KSPI) director Prawdzik buy or sell shares in the market?

The director did not buy or sell shares in the open market. Instead, she executed a bona fide gift, transferring 17,778 ADSs to a trust. The transaction price is reported as zero, indicating no sale proceeds were received.

What is the nature of ownership after the KSPI ADS gift transfer?

After the gift transfer, 17,778 ADSs are held indirectly through a trust. The reporting person retains pecuniary interest, so the position is now reported as indirect ownership rather than direct, reflecting the new trust holding structure.

Does the Kaspi.kz (KSPI) Form 4 change the director’s economic exposure?

The filing states the director retains pecuniary interest in the 17,778 ADSs held by the trust. This indicates her economic exposure to these securities remains, though the legal form changed from direct to indirect ownership via the trust.

What does each Kaspi.kz (KSPI) ADS represent in this Form 4?

Each American Depositary Share referenced in the Form 4 represents one common share of Joint Stock Co Kaspi.kz. The 17,778 ADSs involved in the reported gift transaction therefore correspond to 17,778 underlying common shares of the issuer.