Lesaka's Southern Africa CEO Mali Reduces Stake Following Stock Price Conditions

Rhea-AI Filing Summary

Mali Lincoln Camagu, CEO of Southern Africa and Director at Lesaka Technologies (LSAK), reported a disposition of 12,396 shares of common stock on November 17, 2024. The transaction was coded as 'F', indicating a payment of exercise price or tax liability using securities.

The shares were disposed of at a price of $4.89, which was calculated based on the company's closing price on the Johannesburg Stock Exchange (ZAR 88.25) converted at the exchange rate of $1:ZAR18.06. Following the transaction, Camagu continues to directly own 408,461 shares.

The disposed shares were part of a larger restricted stock grant of 82,639 shares awarded in October 2023, subject to specific stock price-based vesting conditions. This Form 4 filing, signed on June 24, 2025, represents a standard tax-related disposition of shares to cover tax obligations related to the vesting of restricted stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Mali Lincoln Camagu

Role CEO: Southern Africa

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	12,396	$4.89	$61K

Holdings After Transaction: Common Stock — 408,461 shares (Direct)

Footnotes (1)

1. These shares of common stock are part of an original grant totaling 82,639 shares of restricted stock granted in October 2023 and for which vesting is subject to the satisfaction of certain stock price conditions. Represents the Issuer's closing price on the Johannesburg Stock Exchange on November 18, 2024 of ZAR 88.25 divided by the average $:ZAR exchange rate on November 18, 2024 of $1: ZAR18.06, which was the price used for the purposes of calculating the tax liability.

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Form 4 Insider Transactions: What Each Field Means →

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^*

Mali Lincoln Camagu

(Last) (First) (Middle)

PRESIDENT PLACE, 4TH FLOOR

CNR JAN SMUTS AVENUE AND BOLTON ROAD

(Street)

ROSEBANK, JOHANNESBURG FC T3

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LESAKA TECHNOLOGIES INC [ LSAK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO: Southern Africa

3. Date of Earliest Transaction (Month/Day/Year)
11/17/2024

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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
Common Stock	11/17/2024		F		12,396(1)	D	$4.89(2)	408,461	D

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

Explanation of Responses:

1. These shares of common stock are part of an original grant totaling 82,639 shares of restricted stock granted in October 2023 and for which vesting is subject to the satisfaction of certain stock price conditions.

2. Represents the Issuer's closing price on the Johannesburg Stock Exchange on November 18, 2024 of ZAR 88.25 divided by the average $:ZAR exchange rate on November 18, 2024 of $1: ZAR18.06, which was the price used for the purposes of calculating the tax liability.

	/s/ Lincoln C. Mali	06/24/2025
	** 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.

FAQ

How many shares did LSAK insider Mali Lincoln Camagu dispose of on November 17, 2024?

According to the Form 4 filing, Mali Lincoln Camagu disposed of 12,396 shares of LSAK common stock on November 17, 2024, at a price of $4.89 per share.

What is Mali Lincoln Camagu's position at LSAK?

Mali Lincoln Camagu serves in two roles at LSAK: as a Director and as an Officer with the title of CEO: Southern Africa.

How many LSAK shares does Mali Lincoln Camagu own after the reported transaction?

Following the reported transaction, Mali Lincoln Camagu directly owns 408,461 shares of LSAK common stock.

What was the original restricted stock grant amount given to Mali Lincoln Camagu in October 2023?

According to the filing's explanatory notes, Mali Lincoln Camagu received an original grant of 82,639 shares of restricted stock in October 2023, subject to certain stock price-based vesting conditions.

What was the price calculation method used for LSAK's insider transaction on November 17, 2024?

The price of $4.89 was calculated by taking LSAK's closing price on the Johannesburg Stock Exchange of ZAR 88.25 and dividing it by the average exchange rate of $1:ZAR18.06 on November 18, 2024. This price was used for calculating the tax liability.