Vanguard (NASDAQ: ADMA) reports 12.11M shares, 5.08% stake

Rhea-AI Filing Summary

ADMA Biologics Inc ownership update: Vanguard Capital Management reports beneficial ownership of 12,110,153 shares of Common Stock, representing 5.08% of the class as of 03/31/2026. The filing states Vanguard has sole dispositive power over 12,110,153 shares and sole voting power for 1,803,282 shares. The filing is signed by a Vanguard representative on 04/29/2026.

Insights

Institutional Ownership Analyst

Vanguard holds a modest >5% stake with concentrated voting control for a subset of shares.

Vanguard Capital Management reports beneficial ownership of 12,110,153 shares (5.08%) as of 03/31/2026. The filing shows full dispositive authority over those shares and sole voting power for 1,803,282 shares, indicating voting influence is concentrated in a smaller slice of its economic position.

Holdings are reported on behalf of multiple Vanguard entities and client funds; subsequent filings may show changes if funds rebalance.

Corporate Governance Specialist

Disclosure clarifies aggregated reporting by Vanguard affiliates and voting/dispositive split.

The schedule cites SEC Release No. 34-39538 to explain aggregation across Vanguard-managed funds and affiliates. That language clarifies why one management unit reports combined dispositive power while other affiliates' holdings are excluded under the release.

For governance impact, the voting block of 1,803,282 shares is the operative figure for director votes; investors should watch future ownership updates for any voting changes.

Key Figures

Beneficial ownership: 12,110,153 shares Percent of class: 5.08% Sole voting power: 1,803,282 shares +3 more

6 metrics

Beneficial ownership 12,110,153 shares reported as of 03/31/2026

Percent of class 5.08% ownership percentage as reported

Sole voting power 1,803,282 shares shares with sole voting power

Sole dispositive power 12,110,153 shares shares Vanguard can dispose of

Reporting date 03/31/2026 date ownership is reported as of

Signature date 04/29/2026 date filing signed by Vanguard representative

Key Terms

beneficially owned, sole dispositive power, SEC Release No. 34-39538, Investment Company Act of 1940

4 terms

beneficially owned regulatory

"reflects the securities beneficially owned, or deemed to be beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole dispositive power regulatory

"Sole Dispositive Power 12,110,153.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SEC Release No. 34-39538 regulatory

"In accordance with SEC Release No. 34-39538 (January 12, 1998)"

Investment Company Act of 1940 regulatory

"investment companies registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

ADMA Biologics Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

000899104

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 000899104

1

Names of Reporting Persons

Vanguard Capital Management

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,803,282.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 12,110,153.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,110,153.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.08 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Capital Management LLC and the following affiliates of Vanguard Capital Management LLC or business divisions of such affiliates: Vanguard Asset Management Limited, Vanguard Fiduciary Trust Company, Vanguard Global Advisers, LLC and Vanguard Investments Australia Ltd. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Capital Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Capital Management LLC, or business divisions of such subsidiaries, whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ADMA Biologics Inc
(b)	Address of issuer's principal executive offices: 465 Route 17 South, Ramsey, NJ, 07446
Item 2.
(a)	Name of person filing: Vanguard Capital Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 000899104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 12110153
(b)	Percent of class: 5.08 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1803282
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 12110153
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Capital Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vanguard Capital Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/29/2026

FAQ

What stake does Vanguard report in ADMA (ADMA) on this Schedule 13G?

Vanguard reports beneficial ownership of 12,110,153 shares, representing 5.08% of ADMA’s common stock as of 03/31/2026. The filing aggregates holdings across Vanguard-managed funds and related affiliates under SEC guidance.

How much voting power does Vanguard hold in ADMA according to the filing?

The filing discloses Vanguard has sole voting power over 1,803,282 shares. It separately reports sole dispositive power for 12,110,153 shares, indicating voting authority is a subset of economic ownership.

Does Vanguard report shared voting or dispositive power for ADMA shares?

No. The Schedule 13G shows 0 shares listed for shared voting power and 0 for shared dispositive power, indicating Vanguard reports sole control where it asserts authority over the specified positions.

When was the Schedule 13G signed and who signed it for Vanguard?

The filing is signed by Ashley Grim, Head of Global Fund Administration, with a signature date of 04/29/2026. The ownership figures are reported as of 03/31/2026.