Lesaka (NASDAQ: LSAK) CEO gets 150,000-share grant, forfeits prior award

Rhea-AI Filing Summary

Lesaka Technologies director and CEO: Southern Africa Mali Lincoln Camagu reported changes in his equity holdings. On February 25, 2026, he received a grant of 150,000 shares of restricted common stock at no cash cost under the Amended and Restated 2022 Stock Incentive Plan.

The restricted stock vests in three equal installments on the first, second, and third anniversaries of the February 25, 2026 grant date, contingent on continued service. On December 1, 2025, 77,706 previously granted restricted shares were forfeited and returned to the company after failing to meet a stock price target vesting condition. After these transactions, he directly held 480,755 common shares.

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

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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)
12/01/2025

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	12/01/2025		D		77,706(1)	D	$0.00	330,755	D
Common Stock	02/25/2026		A		150,000(2)	A	$0.00	480,755	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. Represents forfeiture of a grant of restricted stock awarded on December 1, 2022, which did not meet a stock price target vesting condition.

2. Represents a grant of restricted stock pursuant to the Amended and Restated 2022 Stock Incentive Plan. Vesting is subject to the recipient's continuous service through the applicable vesting date, one third of which vests on each of the first, second and third anniversaries of the grant date, February 25, 2026.

	/s/ Lincoln C. Mali	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What does the Lesaka Technologies (LSAK) Form 4 for Mali Lincoln Camagu report?

The Form 4 reports equity compensation changes for Mali Lincoln Camagu. He received 150,000 restricted common shares on February 25, 2026 and forfeited 77,706 earlier restricted shares on December 1, 2025, with all holdings reported as directly owned.

How many Lesaka Technologies (LSAK) shares were granted to Mali Lincoln Camagu?

Mali Lincoln Camagu was granted 150,000 shares of restricted common stock. The grant was made on February 25, 2026 under the Amended and Restated 2022 Stock Incentive Plan and carried a stated price per share of $0.00 as stock-based compensation.

What is the vesting schedule for Mali Lincoln Camagu’s new Lesaka (LSAK) restricted stock?

The 150,000 restricted shares vest in three equal installments. One third vests on each of the first, second, and third anniversaries of the February 25, 2026 grant date, provided Mali Lincoln Camagu maintains continuous service through each applicable vesting date.

Why were some of Mali Lincoln Camagu’s Lesaka (LSAK) restricted shares forfeited?

A prior restricted stock grant was forfeited because it did not meet a stock price target vesting condition. Specifically, 77,706 restricted shares awarded on December 1, 2022 were returned to the issuer on December 1, 2025 after failing that performance-based vesting requirement.

How many Lesaka Technologies (LSAK) shares does Mali Lincoln Camagu hold after these transactions?

After the reported transactions, Mali Lincoln Camagu directly owns 480,755 shares of Lesaka common stock. This figure reflects the December 1, 2025 forfeiture of 77,706 restricted shares and the subsequent February 25, 2026 grant of 150,000 new restricted shares.

Did Mali Lincoln Camagu pay cash for his new Lesaka (LSAK) restricted stock grant?

No, the reported transaction shows a price per share of $0.00 for the 150,000-share restricted stock grant. This indicates it was an equity compensation award under the company’s stock incentive plan rather than an open-market purchase of common shares.