Kamada (KMDA) VP Livneh granted and adjusts trustee-held stock options

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

KAMADA LTD VP and General Counsel Nir Livneh reported a series of employee stock option grants and related option adjustments held via a trustee under the company’s 2011 Share Award Plan. The transactions show awards of options to buy Ordinary Shares at exercise prices stated in U.S. dollars for convenience, paired with corresponding dispositions of options back to the issuer reflecting adjusted exercise prices following a cash dividend distribution. The options vest in four equal annual installments from their grant dates and have expiration dates ranging from late 2029 to late 2035, indicating long-term, compensation-related equity exposure rather than open-market share trading.

Insider Trade Summary

16 transactions reported

Mixed 16 txns

Insider Livneh Nir

Role VP, General Counsel

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy)	9,485	$0.00	--
Disposition	Employee Stock Option (right to buy)	9,485	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	10,000	$0.00	--
Disposition	Employee Stock Option (right to buy)	10,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	10,000	$0.00	--
Disposition	Employee Stock Option (right to buy)	10,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	--
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	10,000	$0.00	--
Disposition	Employee Stock Option (right to buy)	10,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	--
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	--
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	--
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	--

Holdings After Transaction: Employee Stock Option (right to buy) — 9,485 shares (Indirect, Held by trustee)

Footnotes (1)

All exercise prices presented in U.S. dollars represent a convenience conversion from NIS based on the exchange rate published by the Bank of Israel as of April 6, 2026. The exercise price of the options was adjusted pursuant to the provisions of the Company's 2011 Share Award Plan in connection with a cash dividend distribution declared by the Company's board of directors on March 11, 2026. There are no other changes to the terms and conditions of the option award. Options vest in four equal installments, with 25% vesting on each of the four anniversaries of the date of grant. Held by trustee under the Company's 2011 Share Award Plan.

Key Figures

Option grant size: 9,485 options Exercise price (converted): $5.33 per share Alternative exercise price: $5.58 per share +4 more

7 metrics

Option grant size 9,485 options Employee Stock Option grant with $5.33 exercise price

Exercise price (converted) $5.33 per share Convenience conversion from NIS as of April 6, 2026

Alternative exercise price $5.58 per share Adjusted options disposed to issuer under same plan

Later grant size 15,000 options Employee Stock Option grant at $7.25 exercise price

Higher adjusted price $7.50 per share Dividend-adjusted options disposed to issuer

Earliest expiration October 23, 2029 Expiration date for certain option awards

Latest expiration October 22, 2035 Expiration date for longer-dated option awards

Key Terms

Employee Stock Option (right to buy), Disposition to issuer, 2011 Share Award Plan, cash dividend distribution, +1 more

5 terms

Employee Stock Option (right to buy) financial

"security_title: "Employee Stock Option (right to buy)""

Disposition to issuer financial

"transaction_code_description: "Disposition to issuer""

cash dividend distribution financial

"in connection with a cash dividend distribution declared"

exercise price financial

"The exercise price of the options was adjusted"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Form 4 Insider Transactions: What Each Field Means →

04/09/2026 - 03:06 PM

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Livneh Nir

(Last)

(First)

(Middle)

2 HOLTZMAN ST.

(Street)

REHOVOT

(City)

(State)

(Zip)

ISRAEL

(Country)

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

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, General Counsel

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$5.33⁽¹⁾⁽²⁾	04/07/2026		A		9,485		04/23/2024⁽³⁾	10/23/2029	Ordinary Shares	9,485	⁽²⁾	9,485	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.58⁽¹⁾	04/07/2026		D			9,485	04/23/2024⁽³⁾	10/23/2029	Ordinary Shares	9,485	⁽²⁾	9,485	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.33⁽¹⁾⁽²⁾	04/07/2026		A		10,000		04/23/2025⁽³⁾	10/23/2029	Ordinary Shares	10,000	⁽²⁾	10,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.58⁽¹⁾	04/07/2026		D			10,000	04/23/2025⁽³⁾	10/23/2029	Ordinary Shares	10,000	⁽²⁾	10,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.33⁽¹⁾⁽²⁾	04/07/2026		A		10,000		04/23/2026⁽³⁾	10/23/2029	Ordinary Shares	10,000	⁽²⁾	10,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.58⁽¹⁾	04/07/2026		D			10,000	04/23/2026⁽³⁾	10/23/2029	Ordinary Shares	10,000	⁽²⁾	10,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.25⁽¹⁾⁽²⁾	04/07/2026		A		15,000		10/22/2026⁽³⁾	10/22/2035	Ordinary Shares	15,000	⁽²⁾	15,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.5⁽¹⁾	04/07/2026		D			15,000	10/22/2026⁽³⁾	10/22/2035	Ordinary Shares	15,000	⁽²⁾	15,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.33⁽¹⁾⁽²⁾	04/07/2026		A		10,000		04/23/2027⁽³⁾	10/23/2029	Ordinary Shares	10,000	⁽²⁾	10,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.58⁽¹⁾	04/07/2026		D			10,000	04/23/2027⁽³⁾	10/23/2029	Ordinary Shares	10,000	⁽²⁾	10,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.25⁽¹⁾⁽²⁾	04/07/2026		A		15,000		10/22/2027⁽³⁾	10/22/2035	Ordinary Shares	15,000	⁽²⁾	15,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.5⁽¹⁾	04/07/2026		D			15,000	10/22/2027⁽³⁾	10/22/2035	Ordinary Shares	15,000	⁽²⁾	15,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.25⁽¹⁾⁽²⁾	04/07/2026		A		15,000		10/22/2028⁽³⁾	10/22/2035	Ordinary Shares	15,000	⁽²⁾	15,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.5⁽¹⁾	04/07/2026		D			15,000	10/22/2028⁽³⁾	10/22/2035	Ordinary Shares	15,000	⁽²⁾	15,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.25⁽¹⁾⁽²⁾	04/07/2026		A		15,000		10/22/2029⁽³⁾	10/22/2035	Ordinary Shares	15,000	⁽²⁾	15,000	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.5⁽¹⁾	04/07/2026		D			15,000	10/22/2029⁽³⁾	10/22/2035	Ordinary Shares	15,000	⁽²⁾	15,000	I	Held by trustee⁽⁴⁾

Explanation of Responses:

1. All exercise prices presented in U.S. dollars represent a convenience conversion from NIS based on the exchange rate published by the Bank of Israel as of April 6, 2026.

2. The exercise price of the options was adjusted pursuant to the provisions of the Company's 2011 Share Award Plan in connection with a cash dividend distribution declared by the Company's board of directors on March 11, 2026. There are no other changes to the terms and conditions of the option award.

3. Options vest in four equal installments, with 25% vesting on each of the four anniversaries of the date of grant.

4. Held by trustee under the Company's 2011 Share Award Plan.

	/s/ Nir Livneh	04/09/2026
	** 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 4 (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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Kamada (KMDA) VP Nir Livneh report?

Nir Livneh reported compensation-related stock option activity, including grants and matching dispositions to the issuer. These derivative transactions cover options to acquire Ordinary Shares under Kamada’s 2011 Share Award Plan and do not involve open-market buying or selling of the company’s stock.

Are the KMDA Form 4 transactions open-market buys or sells of shares?

No, the Form 4 reflects employee stock option grants and dispositions to the issuer, not open-market trades. The options are held by a trustee under Kamada’s 2011 Share Award Plan and represent compensation rather than ordinary share purchases or sales on the market.

How do Kamada (KMDA) options granted to Nir Livneh vest and expire?

The options vest in four equal installments, with 25% vesting on each of the four anniversaries of the grant date. Expiration dates disclosed range from October 23, 2029 to October 22, 2035, giving a long exercise window for these awards.

Why were KMDA option exercise prices adjusted in this Form 4 filing?

Option exercise prices were adjusted under Kamada’s 2011 Share Award Plan following a cash dividend distribution declared on March 11, 2026. The filing states there are no other changes to the options’ terms and conditions beyond this dividend-related price adjustment.

In what currency are Kamada (KMDA) option exercise prices presented?

Exercise prices are presented in U.S. dollars as a convenience conversion from New Israeli Shekels. The conversion is based on the exchange rate published by the Bank of Israel as of April 6, 2026, according to the filing’s footnotes.

Who holds the KMDA options reported for Nir Livneh on the Form 4?

The options are held by a trustee under Kamada’s 2011 Share Award Plan. The filing identifies the ownership as indirect and notes that the options are "Held by trustee" rather than directly in the executive’s own name.