Welcome to our dedicated page for Adma Biologics SEC filings (Ticker: ADMA), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
ADMA Biologics' SEC filings document its specialty biologics business through Form 8-K reports on operating and financial results, FDA-related disclosures for ASCENIV, Regulation FD materials and other material-event updates. These records include disclosures tied to product revenue trends, immune globulin market conditions, commercial distribution, plasma collection and biomanufacturing operations.
ADMA's definitive proxy materials cover annual meeting matters, board and governance proposals, voting procedures and executive compensation. Its current reports also document executive transitions, related agreements, capital-structure matters, share-repurchase activity and risk-oriented product disclosures associated with immune globulin products.
ADMA Biologics CFO and Treasurer Terry Kohler filed an initial ownership report showing his equity stake in the company. He reported 91,166 stock options and 58,019 shares of common stock held directly. Footnotes explain these reflect previously granted stock options and restricted stock units that vest over four years.
ADMA Biologics is a U.S. biopharmaceutical company focused on plasma-derived therapies for immunodeficient and immune‑compromised patients. It currently markets three FDA‑approved products: ASCENIV, an IVIG for primary humoral immunodeficiency, a second IVIG for PI in adults and children two years and older, and Nabi‑HB for Hepatitis B exposure.
ADMA manufactures at its Boca Raton facility, which it believes can support projected annual revenues greater than $635 million in 2026 and $775 million in 2027, with targeted Adjusted Net Income exceeding $255 million and $315 million and Adjusted EBITDA exceeding $360 million and $455 million, respectively. An FDA‑approved yield enhancement process is expected to increase ASCENIV and IVIG production yields by about 20%, with 2026 as the first full year of yield‑enhanced output. The company is divesting three plasma centers for $12.0 million while securing long‑term high‑titer plasma supply agreements, adopting its ADMAlytics AI platform across manufacturing and commercial operations, and advancing SG‑001, an S. pneumoniae hyperimmune candidate that could enter registrational trials after an anticipated pre‑IND submission in 2026.
ADMA Biologics reported record fourth quarter and full year 2025 results and announced a CFO transition. Full year 2025 revenue reached $510.2 million, up 20% from 2024, driven largely by ASCENIV, which generated $362.5 million and grew 51% year over year. Gross profit was $292.8 million with a 57.4% margin, while adjusted net income rose to $160.8 million, up 35%, and adjusted EBITDA increased to $231.0 million, up 40%.
Fourth quarter 2025 revenue was $139.2 million, up 18% year over year, with gross profit of $88.8 million and adjusted EBITDA of $73.6 million. ADMA reaffirmed long-term guidance targeting more than $1.1 billion in annual revenue and greater than $700 million in adjusted EBITDA in 2029. The company also highlighted progress on its SG-001 pipeline program and ongoing share repurchases.
Separately, long-time CFO Brad Tade retired effective February 25, 2026 and will serve as a consultant through July 31, 2026, receiving $41,666.67 per month. He is succeeded by Terry (Paul Terence) Kohler, who becomes Chief Financial Officer and Treasurer with a $500,000 base salary, a 45% target bonus opportunity and equity awards subject to multi-year vesting and change-of-control protections.
ADMA Biologics, Inc. executive Kaitlin M. Kestenberg-Messina, COO and SVP, Compliance, reported a Form 4 transaction involving company common stock. On February 19, 2026, 8,161 shares were withheld by the company at $16.32 per share to cover mandatory tax withholding on vesting restricted stock units, which is not an open market sale. After this tax-withholding disposition, she directly held 572,160 shares of common stock, reflecting prior option exercises and earlier RSU net settlements.
ADMA Biologics President and CEO Adam S. Grossman reported a Form 4 transaction where 24,793 shares of common stock were withheld on February 19, 2026 at $16.32 per share to cover mandatory tax obligations upon the vesting of restricted stock units. Footnotes clarify this was a tax-withholding disposition and not an open market sale.
After this transaction, Grossman directly owned 2,259,586 shares of ADMA common stock. He also had indirect ownership of additional shares, including positions held through Areth, LLC and Hariden, LLC, where he is a control person and managing member, respectively.
ADMA Biologics CFO and Treasurer Brad L. Tade reported a tax-related share disposition tied to restricted stock units (RSUs). On the transaction date, 6,479 shares of common stock were withheld by the company at $16.32 per share to satisfy mandatory tax withholding when RSUs vested, and this was not an open market sale. After this withholding, Tade directly owned 232,940 shares of common stock, including multiple blocks of unvested RSUs granted between June 2023 and February 2025 that will settle into shares over time if service conditions are met.
ADMA Biologics President and CEO Adam S. Grossman reported a mix of option exercise and share sales. On February 17, 2026, he exercised a stock option for 15,000 shares at $5.40 per share, converting it into 15,000 shares of common stock. He then sold a total of 21,000 common shares in open-market transactions at $16.08 per share under a Rule 10b5-1 trading plan.
After these transactions, he directly holds 2,284,379 common shares. He also has indirect holdings of 1,143,426 shares through Areth, LLC and 580,957 shares through Hariden, LLC. Footnotes note multiple unvested RSU awards granted between 2022 and 2026 that vest over four years and settle in common stock, plus previously acquired shares reflecting prior RSU vesting and purchases.
Fidelity Brokerage Services submitted a Form 144 reporting planned sales of Common Stock tied to option exercises and restricted stock unit vesting. The notice lists proposed sales of 60,000 and 125,000 shares from option exercises and 13,014 and 10,986 shares from RSU vesting.
The filing also records recent dispositions of 21,000 shares on 12/15/2025 for $415,590 and 21,000 shares on 11/19/2025 for $336,000.
Invesco Ltd. filed an amended Schedule 13G reporting beneficial ownership of 11,785,202 shares of ADMA Biologics Inc common stock, representing 5.0% of the class as of 12/31/2025. Invesco reports sole voting power over 11,085,226 shares and sole dispositive power over 11,785,202 shares.
The shares are held of record by clients of Invesco’s investment adviser subsidiaries, including Invesco Advisers, Inc., Invesco Asset Management Limited, and Invesco Capital Management LLC, with no single individual having more than 5% economic ownership. Invesco certifies the position is held in the ordinary course of business and not to influence control of ADMA.
ADMA Biologics director Jerrold B. Grossman received new equity awards. On February 9, 2026, he was granted 10,690 restricted stock units of common stock at $0, which vest in two equal installments over one year, subject to continued service.
He was also granted stock options for 17,730 shares of common stock at a $16.37 exercise price, with these options vesting in twelve equal monthly installments over one year. Following the grant, he directly beneficially owned 488,884 shares of common stock, including previously granted RSUs, and held additional indirect interests through an LLC, a trust, a foundation, and his spouse.