Kaspi.kz (KSPI) Director Alina Prawdzik Gifts 17,778 ADSs

What Happened
Alina Prawdzik, a director of Joint Stock Co Kaspi.kz (KSPI), transferred (gifted) 17,778 American Depositary Shares (ADSs) on May 12, 2026. The transaction price was $0.00 per ADS (total proceeds $0), recorded as a change from direct ownership to indirect ownership because the shares were moved into a trust. Each ADS represents one common share of the issuer.

Key Details

• Transaction date: May 12, 2026; Filing date: May 14, 2026 (appears timely).
• Transaction type: Gift (code G) — 17,778 ADSs transferred at $0.00 (no cash received).
• Shares owned after transaction: Not specified in the Form 4; reporting person reports the change from direct to indirect ownership.
• Footnotes: F1 — 1 ADS = 1 common share. F2 — Shares were transferred to a trust of which the reporting person and an immediate family member are settlors and sole beneficiaries; Prawdzik retains a pecuniary interest and disclaims beneficial ownership except to the extent of that interest.
• Regulatory note: Issuer is a foreign private issuer; transactions are exempt from Sections 16(b) and 16(c) of the Exchange Act (per filer’s remarks).

Context
This was a gift/transfer into a family trust, not an open-market sale or purchase, so it does not directly signal the insider’s market view. The reporting shows a switch from direct to indirect ownership (trust holdings) while the reporting person retains economic interest.