Kim Vyacheslav 4
4 · Joint Stock Co Kaspi.kz · Filed Jul 27, 2026
Research Summary
AI-generated summary of this filing
Kaspi.kz (KSPI) Director Kim Vyacheslav Sells ADSs
What Happened
Kim Vyacheslav, a director of Joint Stock Co Kaspi.kz (KSPI), disposed of a total of 37,742 American Depositary Shares (ADSs) in open-market/privately executed derivative transactions on July 23–24, 2026. The individual transactions reported were:
- 20,862 ADSs at a weighted average of $85.22 — $1,777,755
- 2,347 ADSs at a weighted average of $86.31 — $202,579
- 136 ADSs at $87.20 — $11,859
- 14,307 ADSs at a weighted average of $85.50 — $1,223,277
- 90 ADSs at $86.06 — $7,746 Total proceeds across these disposals are about $3.22 million. These filings classify the transfers as "Derivative" disposals (each ADS represents one common share).
Key Details
- Transaction dates: July 23 and July 24, 2026; Form 4 filed July 27, 2026 (reporting period begins July 23).
- Reported weighted-average prices and ranges (per footnotes): some ADSs were sold in multiple trades at prices within specified ranges (e.g., $84.94–$85.92; $86.045–$87.00; $85.06–$86.045). The filer has offered to provide breakdowns on request.
- Shares owned after the transactions: not disclosed in the provided excerpt of the filing.
- Filing notes: because Kaspi.kz is a foreign private issuer, these transactions are exempt from Sections 16(b) and 16(c) of the Exchange Act.
- No indication in the filing that the trades were part of a 10b5-1 plan, tax withholding, gift, or exercise-to-sell; they are reported as derivative disposals.
Context
These were sales (dispositions), which are generally considered routine insider liquidity and do not necessarily signal company fundamentals. The filing classifies the moves as derivative transactions—retail investors should note that “Derivative” here means the reported transaction type on the Form 4; each ADS equals one common share per the filing footnote. The reporting person has committed to provide detailed pricing information on request for the multiple trade ranges disclosed in the footnotes.
Insider Transaction Report
- Sale
American Depositary Shares, no par value
[F1][F2]2026-07-23$85.22/sh−20,862$1,777,755→ 37,894,118 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F3]2026-07-23$86.31/sh−2,347$202,579→ 37,891,771 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1]2026-07-23$87.20/sh−136$11,859→ 37,891,635 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F4]2026-07-24$85.50/sh−14,307$1,223,277→ 37,877,328 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1]2026-07-24$86.06/sh−90$7,746→ 37,877,238 total→ Common Shares, no par value
Footnotes (4)
- [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 $84.94 to $85.92, 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 $86.045 to $87.00, 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 $85.06 to $86.045, 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.