Kim Vyacheslav 4
4 · Joint Stock Co Kaspi.kz · Filed Jul 21, 2026
Research Summary
AI-generated summary of this filing
Kaspi.kz (KSPI) Director Vyacheslav Kim Sells $2.08M in ADSs
What Happened
- Director Vyacheslav Kim sold a total of 23,674 American Depositary Shares (ADSs) in open-market/ private sales between July 17 and July 20, 2026, generating aggregate proceeds of about $2,076,834. The individual trades reported: 5,223 ADSs at a weighted avg $86.35 ($451,011), 8,001 ADSs at $87.46 ($699,751), 7,411 ADSs at $88.36 ($654,866), and 3,039 ADSs at $89.24 ($271,206). These transactions are reported as sales (S) and listed as "Derivative" dispositions in the Form 4.
Key Details
- Dates & prices:
- 2026-07-17: 5,223 ADSs @ weighted avg $86.35 (prices ranged $85.985–$86.985; F2) and 8,001 ADSs @ $87.46 (range $87.025–$88.02; F3).
- 2026-07-20: 7,411 ADSs @ $88.36 (range $88.015–$89.015; F4) and 3,039 ADSs @ $89.24 (range $89.0225–$89.69; F5).
- Each ADS represents one common share of the issuer (Footnote F1).
- Shares owned after transaction: not disclosed in the provided filing.
- Filing dated July 21, 2026; the Form includes no late‑filing remark.
- Remark: As a foreign private issuer, Kaspi.kz’s insider transactions are exempt from Sections 16(b) and 16(c) of the Exchange Act (no short‑swing profit recovery).
Context
- The Form 4 reports these as "Derivative" dispositions; the filing does not specify the exact derivative instrument or indicate an exercise code. That typically means the sales relate to derivative-held positions or dispositions of ADSs tied to derivatives, but the form does not give further detail. These were sales (not purchases), which are often routine insider liquidity events rather than a direct signal of company outlook.
Insider Transaction Report
Form 4
Kim Vyacheslav
Director
Transactions
- Sale
American Depositary Shares, no par value
[F1][F2]2026-07-17$86.35/sh−5,223$451,011→ 37,952,569 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F3]2026-07-17$87.46/sh−8,001$699,751→ 37,944,568 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F4]2026-07-20$88.36/sh−7,411$654,866→ 37,937,157 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F5]2026-07-20$89.24/sh−3,039$271,206→ 37,934,118 total→ Common Shares, no par value
Footnotes (5)
- [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 $85.985 to $86.985, 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 $87.025 to $88.02, 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 $88.015 to $89.015, 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 $89.0225 to $89.69, 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.
Signature
/s/ Yuri Didenko, as attorney-in-fact for Vyacheslav Kim|2026-07-21