Director Vyacheslav Kim of Joint Stock Co Kaspi.kz filed a Form 4 on November 3, 2026, disclosing eight separate sales of American Depositary Shares between October 30 and November 3, 2026, executed pursuant to a Rule 10b5-1 plan.

Key Highlights

  • Reporting person: Vyacheslav Kim, identified as a Director of Joint Stock Co Kaspi.kz (NASDAQ:KSPI).
  • Total ADS sold: 8,137 + 3,586 + 11,676 + 258 + 11,024 + 2,878 + 12,074 + 1,067 = 50,700 American Depositary Shares disposed of across eight transactions.
  • Price range: Weighted average sale prices ranged from $91.09 to $93.82 per ADS across the eight transactions, with individual transaction prices spanning $90.58 to $94.075.
  • Remaining holdings: Following all reported transactions, Kim directly owned 36,085,874 common shares (each ADS represents one common share), according to the filing.
  • Transaction dates: Sales occurred on October 30, 2026, November 2, 2026, and November 3, 2026.
  • Rule 10b5-1 plan: The filing indicates transactions were made pursuant to a contract, instruction, or written plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Vyacheslav Kim's ADS Disposals Across Three Trading Days

According to the Form 4 filed with the SEC on November 3, 2026, Vyacheslav Kim, a Director of Joint Stock Co Kaspi.kz, sold American Depositary Shares on three separate trading days under transaction code "S." The filing notes that each ADS represents one common share of the issuer. All eight transactions are reported as derivative securities, with the underlying security listed as Common Shares, no par value.

On October 30, 2026, Kim disposed of four tranches: 8,137 ADS at a weighted average price of $91.09 (range $90.58 to $91.51), 3,586 ADS at $92.10 (range $91.60 to $92.585), 11,676 ADS at $93.06 (range $92.625 to $93.55), and 258 ADS at $93.66 (range $93.63 to $93.72). On November 2, 2026, two additional tranches were sold: 11,024 ADS at $93.19 (range $92.60 to $93.59) and 2,878 ADS at $93.82 (range $93.605 to $94.075). On November 3, 2026, the filing records sales of 12,074 ADS at $92.30 (range $91.90 to $92.82) and 1,067 ADS at $93.54 (range $93.11 to $94.035). All prices reported in the filing are weighted averages across multiple sub-transactions within each tranche.

The filing states that the transactions are exempt from Sections 16(b) and 16(c) of the Securities Exchange Act of 1934, citing the issuer's status as a foreign private issuer pursuant to Rule 3a12-3(b). The reporting person undertakes, per the filing, to provide full details of shares sold at each individual price within each range upon request by the issuer, any security holder, or SEC staff. The form was signed by Yuri Didenko as attorney-in-fact for Vyacheslav Kim on November 3, 2026.

What Was Disclosed

Director Vyacheslav Kim disclosed eight Rule 10b5-1 ADS sales totaling 50,700 shares of Joint Stock Co Kaspi.kz between October 30 and November 3, 2026, at weighted average prices from $91.09 to $93.82, leaving him with direct ownership of 36,085,874 common shares.