Kaspi.kz director sells 41,350 ADSs

Joint Stock Co Kaspi.kz director Vyacheslav Kim reported open-market sales of a total of 41,350 American Depositary Shares (ADSs) over two days.

Rhea-AI Filing Summary

Joint Stock Co Kaspi.kz director Vyacheslav Kim reported open-market sales of a total of 41,350 American Depositary Shares (ADSs) over two days. On June 2 and 3, 2026, he sold blocks ranging from 4,451 to 12,829 ADSs at weighted average prices between about $85.76 and $89.70 per ADS. Each ADS represents one common share of the issuer. After these transactions, his direct ownership reported in the filing remains very large, with figures in the table showing around 38.5M ADSs held following the trades.

Insider Trade Summary 10b5-1

Net Seller: 41,350 shares

Net Sell 5 txns

Insider Kim Vyacheslav

Role Director

Sold 41,350 shs ($3.63M)

Type	Security	Shares	Price	Value
Sale	American Depositary Shares, no par value	11,688	$85.755	$1.00M
Sale	American Depositary Shares, no par value	7,707	$87.019	$671K
Sale	American Depositary Shares, no par value	4,451	$87.691	$390K
Sale	American Depositary Shares, no par value	12,829	$89.076	$1.14M
Sale	American Depositary Shares, no par value	4,675	$89.70	$419K

Holdings After Transaction: American Depositary Shares, no par value — 38,477,835 contracts (Direct)

Footnotes (6)

1. F1. Each American Depositary Share (ADS) represents one common share of the issuer.
2. F2. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $88.515 to $89.5, 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. F3. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $89.53 to $91.11, 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. F4. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $85.35 to $86.23, 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. F5. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $86.445 to $87.42, 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. F6. The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $87.47 to $88.04, 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: 41,350 ADSs Sale date range: June 2–3, 2026 Largest single block sold: 12,829 ADSs +4 more

7 metrics

Total ADSs sold 41,350 ADSs Net shares sold across five open-market transactions

Sale date range June 2–3, 2026 Dates of reported open-market ADS sales

Largest single block sold 12,829 ADSs Single transaction size on June 2, 2026

Highest reported weighted price $89.700 per ADS One June 2, 2026 sale transaction

Lowest reported weighted price $85.755 per ADS One June 3, 2026 sale transaction

Post-transaction holdings (approx.) ≈38.5M ADSs Direct holdings after reported sales, per table entries

ADS to common share ratio 1 ADS : 1 common share Each ADS represents one common share of the issuer

Key Terms

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

4 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

"derivativeTransactionCount": 5"

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 41,350 American Depositary Shares in open-market transactions. The sales occurred over two days and are detailed in multiple line items, each with its own share count and weighted average sale price.

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

The filing shows that Vyacheslav Kim sold Kaspi.kz American Depositary Shares on June 2 and June 3, 2026. Several separate open-market sale transactions were reported for each date, each with its own number of ADSs and weighted average price per share.

How many Kaspi.kz (KSPI) ADSs did Vyacheslav Kim sell and at what prices?

Across five reported transactions, Vyacheslav Kim sold 41,350 Kaspi.kz ADSs. Individual blocks ranged from 4,451 to 12,829 ADSs, with weighted average sale prices roughly between $85.76 and $89.70 per ADS, as disclosed in the transaction table and detailed price-range footnotes.

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

The Form 4 shows that after the reported sales, Vyacheslav Kim’s direct holdings remain around 38.5 million Kaspi.kz ADSs. Individual transaction lines list post-transaction ownership figures, indicating he continues to hold a large equity position despite the net sale of 41,350 ADSs.

What does the weighted average price mean in the Kaspi.kz (KSPI) Form 4?

The weighted average price reflects that each reported transaction aggregates multiple trades executed at different prices. Footnotes explain that underlying trades occurred within specific price ranges, and the insider will provide detailed per-trade information to the issuer, shareholders, or SEC staff upon request.

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

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Accepted by SEC EDGAR 06/04/2026 - 07:55 PM Learn about SEC filing dates

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).

X

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)
06/02/2026

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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
American Depositary Shares, no par value	(1)	06/02/2026		S			12,829	(1)	(1)	Common Shares, no par value	(1)	$89.076(2)	38,506,356	D
American Depositary Shares, no par value	(1)	06/02/2026		S			4,675	(1)	(1)	Common Shares, no par value	(1)	$89.7(3)	38,501,681	D
American Depositary Shares, no par value	(1)	06/03/2026		S			11,688	(1)	(1)	Common Shares, no par value	(1)	$85.755(4)	38,489,993	D
American Depositary Shares, no par value	(1)	06/03/2026		S			7,707	(1)	(1)	Common Shares, no par value	(1)	$87.019(5)	38,482,286	D
American Depositary Shares, no par value	(1)	06/03/2026		S			4,451	(1)	(1)	Common Shares, no par value	(1)	$87.691(6)	38,477,835	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 $88.515 to $89.5, 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 $89.53 to $91.11, 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 $85.35 to $86.23, 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 $86.445 to $87.42, 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 $87.47 to $88.04, 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	06/04/2026
	** 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)