Kim Vyacheslav 4
4 · Joint Stock Co Kaspi.kz · Filed Jul 31, 2026
Research Summary
AI-generated summary of this filing
Kaspi.kz (KSPI) Director Kim Vyacheslav Sells 22,362 ADSs ($1.96M)
What Happened
- Director Kim Vyacheslav reported multiple open-market dispositions of American Depositary Shares (ADSs) of Joint Stock Co Kaspi.kz. Between July 29 and July 30, 2026 he sold a total of 22,362 ADSs for aggregate proceeds of approximately $1,964,651. Individual reported trades:
- 2026-07-29: 7,237 ADSs at $87.30 each — $631,754
- 2026-07-29: 5,616 ADSs at $88.13 each — $494,938
- 2026-07-29: 1,739 ADSs at $88.91 each — $154,611
- 2026-07-30: 6,167 ADSs at $87.79 each — $541,401
- 2026-07-30: 1,603 ADSs at $88.55 each — $141,947
- These are sales (S) — routine dispositions rather than purchases (not a bullish signal).
Key Details
- Transaction dates: July 29–30, 2026; Form 4 filed July 31, 2026.
- Total sold: 22,362 ADSs for ~ $1,964,651.
- ADS = 1 common share (Footnote F1).
- Several trades report weighted-average prices with price ranges disclosed in footnotes (F2–F6) indicating the ADSs were sold in multiple executions at varying prices.
- Shares owned after the transactions: not specified in this filing.
- Issuer is a foreign private issuer; transactions are noted as exempt from Sections 16(b) and 16(c) of the Exchange Act (per filing remarks).
Context
- These were outright sales of ADSs (reported as derivative dispositions on the form). The filing provides weighted-average prices and price ranges but no explanation of motive — sales by insiders can be for many personal or portfolio reasons and do not by themselves signal company fundamentals.
- Retail investors should note this is insider selling (common and often routine); purchases generally carry more informational weight.
Insider Transaction Report
Form 4
Kim Vyacheslav
Director
Transactions
- Sale
American Depositary Shares, no par value
[F1][F2]2026-07-29$87.30/sh−7,237$631,754→ 37,835,557 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F3]2026-07-29$88.13/sh−5,616$494,938→ 37,829,941 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F4]2026-07-29$88.91/sh−1,739$154,611→ 37,828,202 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F5]2026-07-30$87.79/sh−6,167$541,401→ 37,822,035 total→ Common Shares, no par value - Sale
American Depositary Shares, no par value
[F1][F6]2026-07-30$88.55/sh−1,603$141,947→ 37,820,432 total→ Common Shares, no par value
Footnotes (6)
- [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 $86.68 to $87.68, 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 $87.715 to $88.705, 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 $88.75 to $89.17, 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 $87.165 to $88.08, 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.
- [F6]The price reported in Column 8 is a weighted average price. These ADSs were sold in multiple transactions at prices ranging from $88.23 to $88.89, 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|2026-07-31