Leon Recanati details Kamada (KMDA) share and option stakes

Rhea-AI Filing Summary

Kamada Ltd director Leon Recanati filed an initial ownership report showing substantial holdings in the company. He directly owns 631,143 Ordinary Shares and indirectly holds 1,455,459 Ordinary Shares through GOV Holdings and 1,346,335 Ordinary Shares through Insight. He also holds several option grants to purchase Ordinary Shares at exercise prices of $7.52 and $6.15, with expirations in 2026 and 2029. The options are exercisable using a net-exercise method, which settles only the in-the-money value in shares rather than requiring full cash payment.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

RECANATI LEON

(Last) (First) (Middle)

27 YOAV

(Street)

TEL AVIV L3 6908165

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/16/2026

3. Issuer Name and Ticker or Trading Symbol
KAMADA LTD [ KMDA ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	631,143	D
Ordinary Shares	1,455,459	I	Held through controlled entity- GOV Holdings
Ordinary Shares	1,346,335	I	Held through controlled entity- Insight

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Options to purchase Ordinary Shares(1)	03/25/2021	09/25/2026	Ordinary Shares	6,625	$7.52(2)	D
Options to purchase Ordinary Shares(1)	03/25/2022	09/25/2026	Ordinary Shares	6,625	$7.52(2)	D
Options to purchase Ordinary Shares(1)	03/25/2023	09/25/2026	Ordinary Shares	6,625	$7.52(2)	D
Options to purchase Ordinary Shares(1)	12/22/2023	06/22/2029	Ordinary Shares	7,500	$6.15(2)	D
Options to purchase Ordinary Shares(1)	03/25/2024	09/25/2026	Ordinary Shares	6,625	$7.52(2)	D
Options to purchase Ordinary Shares(1)	12/22/2024	06/22/2029	Ordinary Shares	7,500	$6.15(2)	D
Options to purchase Ordinary Shares(1)	12/22/2025	06/22/2029	Ordinary Shares	7,500	$6.15(2)	D
Options to purchase Ordinary Shares(1)	12/22/2026	06/22/2029	Ordinary Shares	7,500	$6.15(2)	D

Explanation of Responses:

1. These options to purchase ordinary shares are exercisable using a net-exercise method

2. All exercise prices presented in U.S. dollars represent a convenience translation from NIS based on the representative exchange rate of the Bank of Israel as of March 13, 2026.

	/S/ Leon Recanati	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does Leon Recanati’s Form 3 filing for Kamada (KMDA) show?

The Form 3 shows Leon Recanati’s initial ownership in Kamada. He reports large direct and indirect holdings of Ordinary Shares plus multiple option grants, establishing his baseline stake as a director for future comparison with any later Form 4 or 5 transactions.

How many Kamada (KMDA) shares does Leon Recanati directly hold?

Leon Recanati directly holds 631,143 Ordinary Shares of Kamada. This direct stake is separate from shares held through controlled entities and provides a clear view of the shares registered in his own name in this initial ownership report.

What indirect Kamada (KMDA) holdings does Leon Recanati report?

He reports 1,455,459 Ordinary Shares held indirectly through GOV Holdings and 1,346,335 Ordinary Shares held indirectly through Insight. These positions are attributed to entities he controls, expanding his overall economic exposure beyond his directly registered shares.

What stock options does Leon Recanati hold in Kamada (KMDA)?

He holds several options to purchase Kamada Ordinary Shares with exercise prices of $7.52 and $6.15, expiring between 2026 and 2029. Each option series is tied to a specific number of underlying shares and is exercisable using a net-exercise method.

What does net-exercise mean for Leon Recanati’s Kamada (KMDA) options?

Net-exercise allows options to be settled by delivering only the in-the-money value in shares. Instead of paying the full exercise price in cash, a portion of the underlying shares is withheld, simplifying exercise while still increasing the holder’s effective equity position.

Does this Kamada (KMDA) Form 3 show any recent buying or selling by Leon Recanati?

No specific purchases or sales are identified; the entries are labeled as holdings with unknown transaction codes. The filing primarily establishes his existing direct, indirect, and option positions rather than reporting new open-market transactions or recent changes in ownership.