Kamada director exercises options, nets 9,166 shs
Kamada director David Tsur net-exercised stock options into ordinary shares with shares withheld to cover exercise price and tax obligations.
Rhea-AI Filing Summary
KAMADA LTD (KMDA) director David Tsur reported option exercises and related share withholdings on September 2, 2026. He exercised options for 26,500 and 22,500 ordinary shares at exercise prices of $7.36 and $5.94, respectively, and the company withheld shares to pay the exercise price and tax using closing prices of $8.30 and $8.26. The transactions were structured as “net exercises” under the company’s 2011 Share Award Plan, with options that had vested in four equal annual installments and that were previously adjusted following a special cash dividend declared on August 17, 2026. No Rule 10b5-1 trading plan is reported.
Positive
- None.
Negative
- None.
Insider Trade Summary
49,000 shares exercised/converted
Exercise
6 txns
Insider
Tsur David
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) F1, F4, F6, F7 | 26,500 | $0.00 | $0.00 |
| Exercise | Employee Stock Option (right to buy) F1, F5, F6, F7 | 22,500 | $0.00 | $0.00 |
| Exercise | Ordinary Shares F1, F4 | 26,500 | $7.36 | $195K |
| Exercise Price or Tax Liability | Ordinary Shares F2, F1 | 2,760 | $8.30 | $23K |
| Exercise | Ordinary Shares F1, F5 | 22,500 | $5.94 | $134K |
| Exercise Price or Tax Liability | Ordinary Shares F3, F1 | 6,406 | $8.26 | $53K |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 contracts (Indirect, Held by trustee);
Ordinary Shares — 607,929 shares (Direct)
Footnotes (7)
- F1. All exercise and sale 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 September 2, 2026.
- F2. Represents a "net exercise" of outstanding stock options. The reporting person received 2,760 ordinary shares on net exercise of option to purchase 26,500 ordinary shares. The Company withheld 23,740 ordinary shares underlying the option for payment of the exercise price and tax withholdings, using the closing stock price on September 2, 2026 of $8.30, pursuant to the terms of the Company's 2011 Share Award Plan.
- F3. Represents a "net exercise" of outstanding stock options. The reporting person received 6,406 ordinary shares on net exercise of option to purchase 22,500 ordinary shares. The Company withheld 16,094 ordinary shares underlying the option for payment of the exercise price and tax withholdings, using the closing stock price on September 2, 2026 of $8.26, pursuant to the terms of the Company's 2011 Share Award Plan.
- F4. This option was previously reported as covering 26,500 ordinary shares at an exercise price of $7.53. The exercise price has been adjusted in connection with a special cash dividend distribution declared by the Company's board of directors on August 17, 2026.
- F5. This option was previously reported as covering 22,500 ordinary shares at an exercise price of $6.11. The exercise price has been adjusted in connection with a special cash dividend distribution declared by the Company's board of directors on August 17, 2026.
- F6. The options vested over a period of four years in four equal installments, such that 25% of the options vested on each anniversary of the grant date.
- F7. Held by trustee under the Company's 2011 Share Award Plan.
Key Figures
Options exercised (grant 1): 26,500 options on ordinary shares
Options exercised (grant 2): 22,500 options on ordinary shares
Net shares received (grant 1): 2,760 ordinary shares
+5 more
8 metrics
Options exercised (grant 1)
26,500 options on ordinary shares
Exercised on September 2, 2026 at an exercise price of $7.36 per share
Options exercised (grant 2)
22,500 options on ordinary shares
Exercised on September 2, 2026 at an exercise price of $5.94 per share
Net shares received (grant 1)
2,760 ordinary shares
Received on net exercise of option to purchase 26,500 ordinary shares
Shares withheld (grant 1)
23,740 ordinary shares
Withheld for payment of exercise price and tax at $8.30 closing price
Net shares received (grant 2)
6,406 ordinary shares
Received on net exercise of option to purchase 22,500 ordinary shares
Shares withheld (grant 2)
16,094 ordinary shares
Withheld for payment of exercise price and tax at $8.26 closing price
Closing stock prices used
$8.30 and $8.26 per share
Closing prices on September 2, 2026 used for net exercise withholding
Vesting schedule
4 years, 25% annually
Options vested in four equal installments on each anniversary of grant date
Key Terms
net exercise, special cash dividend distribution, exercise price, 2011 Share Award Plan, +1 more
5 terms
net exercise financial
"Represents a "net exercise" of outstanding stock options."
A net exercise is a way to convert stock options into shares without paying cash up front: instead of handing over money to buy the optioned shares, the holder receives only the number of shares equal to the option’s value after the company withholds a portion of shares to cover the exercise price and taxes. It matters to investors because it changes how many new shares are issued, affects dilution of existing shareholders, and alters company cash flow compared with a cash exercise.
special cash dividend distribution financial
"adjusted in connection with a special cash dividend distribution declared"
exercise price financial
"at an exercise price of $7.53. The exercise price has been 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.
tax withholdings financial
"for payment of the exercise price and tax withholdings, using the closing"
FAQ
What did Kamada (KMDA) director David Tsur report in this Form 4?
He reported net exercises of employee stock options into ordinary shares on September 2, 2026, with shares withheld by Kamada to cover the exercise price and tax withholdings under the company’s 2011 Share Award Plan.
How many Kamada (KMDA) options did David Tsur exercise and at what prices?
He exercised options to purchase 26,500 ordinary shares at an exercise price of $7.36 per share and options to purchase 22,500 ordinary shares at an exercise price of $5.94 per share, all on September 2, 2026.
Why were David Tsur’s Kamada (KMDA) option exercise prices adjusted?
The exercise price of the 26,500-share option and the 22,500-share option was adjusted in connection with a special cash dividend distribution declared by Kamada’s board of directors on August 17, 2026.
Did David Tsur’s Kamada (KMDA) transactions use a Rule 10b5-1 trading plan?
No. The filing’s Rule 10b5-1 checkbox is not marked as being pursuant to a plan, and the footnotes do not describe any Rule 10b5-1 trading plan for these transactions.
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