Kaspi.kz Director Vyacheslav Kim Sells $9.28M in ADSs via Rule 10b5-1 Plan

Transaction Overview

On August 31, 2026, a Form 4 was filed for Joint Stock Co Kaspi.kz ($KSPI) reporting open market sales of American Depositary Shares (ADSs) by Director Vyacheslav Kim across August 27, August 28, and August 31, 2026.

Key Transaction Statistics

• Insider: Vyacheslav Kim
• Role: Director
• Transaction Dates: August 27, 2026 – August 31, 2026
• Total Shares Sold: 87,619 ADSs
• Weighted Average Price: ~$105.88 (ranging from $104.31 to $107.98 across multiple tranches)
• Gross Proceeds: ~$9,277,087.22
• Direct Holdings Remaining: 37,149,709 ADSs

Trading Context & Significance

• Rule 10b5-1 Plan: The transaction was executed under an affirmative defense Rule 10b5-1 trading arrangement, indicating pre-scheduled sales.
• Portfolio Impact: While the transaction value is substantial at over $9.2M, it represents approximately 0.24% of Kim's massive holding of over 37.1 million shares/ADSs in the company.
• Significance Assessment: Medium — Notable in gross dollar amount, but routine in nature given the 10b5-1 plan adoption and the negligible percentage change relative to total insider ownership.