Were there any open-market share purchases or sales in this Kamada (KMDA) Form 4?

No. The Form 4 only reports derivative transactions in employee stock options, not open-market share trades. Activity consists of trustee-held option grants and issuer dispositions under Kamada’s 2011 Share Award Plan, so it does not reflect direct buying or selling of Ordinary Shares in the market.

Kamada (KMDA) director reports trustee-held option grants and cancellations

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Kamada Ltd director Karnit Goldwasser reported a series of employee stock option updates held indirectly through a trustee under the company’s 2011 Share Award Plan. The filing shows paired grant awards (code A) and dispositions back to the issuer (code D) in matching share amounts, leaving her net option position unchanged from these transactions.

The options cover Ordinary Shares with exercise prices converted from NIS, ranging from $5.87 to $7.48 per share and expirations between September 25, 2026 and June 22, 2029. A footnote explains the exercise prices were adjusted under the plan after a cash dividend declared on March 11, 2026, with no other changes to the award terms.

Insights

Routine trustee-held option grants and cancellations with no net position change.

The filing shows Karnit Goldwasser, a director of Kamada Ltd, receiving multiple employee stock option awards while simultaneously returning identical option blocks to the issuer. All positions are held indirectly through a trustee under the 2011 Share Award Plan, indicating plan-based administration rather than market trading.

Exercise prices span from $5.87 to $7.48 per share, with expirations on September 25, 2026 and June 22, 2029. A disclosed cash dividend on March 11, 2026 triggered automatic exercise price adjustments under the plan, but the company states no other option terms changed. Because the grants and dispositions offset, the transactions appear economically neutral and do not signal open-market sentiment.

Insider Trade Summary

16 transactions reported

Mixed 16 txns

Insider Goldwasser Karnit

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy)	6,625	$0.00	--
Disposition	Employee Stock Option (right to buy)	6,625	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	6,625	$0.00	--
Disposition	Employee Stock Option (right to buy)	6,625	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	6,625	$0.00	--
Disposition	Employee Stock Option (right to buy)	6,625	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	7,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	7,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	6,625	$0.00	--
Disposition	Employee Stock Option (right to buy)	6,625	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	7,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	7,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	7,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	7,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	7,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	7,500	$0.00	--

Holdings After Transaction: Employee Stock Option (right to buy) — 6,625 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: 6,625 options Option grant size: 7,500 options Exercise price (low): $5.87 per share +4 more

7 metrics

Option grant size 6,625 options Employee Stock Option grants and matching dispositions

Option grant size 7,500 options Additional Employee Stock Option grants and dispositions

Exercise price (low) $5.87 per share Employee Stock Option exercise price after dividend adjustment

Exercise price (high) $7.48 per share Highest adjusted exercise price shown in filing

Option expiration September 25, 2026 Expiration date for one option series

Option expiration June 22, 2029 Expiration date for later option series

Dividend declaration date March 11, 2026 Board-declared cash dividend used to adjust exercise prices

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 by the Company's board of directors"

vest in four equal installments financial

"Options vest in four equal installments, with 25% vesting on each of the four anniversaries"

Form 4 Insider Transactions: What Each Field Means →

04/09/2026 - 03:15 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^*

Goldwasser Karnit

(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)

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

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)	$7.23⁽¹⁾⁽²⁾	04/07/2026		A		6,625		03/25/2021⁽³⁾	09/25/2026	Ordinary Shares	6,625	⁽²⁾	6,625	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.48⁽¹⁾	04/07/2026		D			6,625	03/25/2021⁽³⁾	09/25/2026	Ordinary Shares	6,625	⁽²⁾	6,625	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.23⁽¹⁾⁽²⁾	04/07/2026		A		6,625		03/25/2022⁽³⁾	09/25/2026	Ordinary Shares	6,625	⁽²⁾	6,625	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.48⁽¹⁾	04/07/2026		D			6,625	03/25/2022⁽³⁾	09/25/2026	Ordinary Shares	6,625	⁽²⁾	6,625	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.23⁽¹⁾⁽²⁾	04/07/2026		A		6,625		03/25/2023⁽³⁾	09/25/2026	Ordinary Shares	6,625	⁽²⁾	6,625	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.48⁽¹⁾	04/07/2026		D			6,625	03/25/2023⁽³⁾	09/25/2026	Ordinary Shares	6,625	⁽²⁾	6,625	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.87⁽¹⁾⁽²⁾	04/07/2026		A		7,500		12/22/2023⁽³⁾	06/22/2029	Ordinary Shares	7,500	⁽²⁾	7,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.12⁽¹⁾	04/07/2026		D			7,500	12/22/2023⁽³⁾	06/22/2029	Ordinary Shares	7,500	⁽²⁾	7,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.23⁽¹⁾⁽²⁾	04/07/2026		A		6,625		03/25/2024⁽³⁾	09/25/2026	Ordinary Shares	6,625	⁽²⁾	6,625	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.48⁽¹⁾	04/07/2026		D			6,625	03/25/2024⁽³⁾	09/25/2026	Ordinary Shares	6,625	⁽²⁾	6,625	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.87⁽¹⁾⁽²⁾	04/07/2026		A		7,500		12/22/2024⁽³⁾	06/22/2029	Ordinary Shares	7,500	⁽²⁾	7,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.12⁽¹⁾	04/07/2026		D			7,500	12/22/2024⁽³⁾	06/22/2029	Ordinary Shares	7,500	⁽²⁾	7,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.87⁽¹⁾⁽²⁾	04/07/2026		A		7,500		12/22/2025⁽³⁾	06/22/2029	Ordinary Shares	7,500	⁽²⁾	7,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.12⁽¹⁾	04/07/2026		D			7,500	12/22/2025⁽³⁾	06/22/2029	Ordinary Shares	7,500	⁽²⁾	7,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.87⁽¹⁾⁽²⁾	04/07/2026		A		7,500		12/22/2026⁽³⁾	06/22/2029	Ordinary Shares	7,500	⁽²⁾	7,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.12⁽¹⁾	04/07/2026		D			7,500	12/22/2026⁽³⁾	06/22/2029	Ordinary Shares	7,500	⁽²⁾	7,500	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/ Karnit Goldwasser	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) director Karnit Goldwasser report?

Karnit Goldwasser reported multiple employee stock option transactions held through a trustee. These included grants (code A) and matching dispositions to the issuer (code D) in equal share amounts, leaving her overall option position unchanged from these reported movements.

How were Kamada (KMDA) option exercise prices affected by the March 2026 dividend?

The company states option exercise prices were adjusted under its 2011 Share Award Plan after a cash dividend declared on March 11, 2026. All exercise prices shown in the filing, such as $5.87 and $7.48, reflect this adjustment and are convenience conversions from NIS to U.S. dollars.

What are the key terms of the Kamada (KMDA) options in this Form 4?

The options relate to Ordinary Shares, with exercise prices between $5.87 and $7.48 per share. They carry expirations on September 25, 2026, and June 22, 2029, and vest in four equal annual installments, 25% on each anniversary of the respective grant date.

How are the Kamada (KMDA) options held for Karnit Goldwasser?

The filing explains that all reported options are held by a trustee under Kamada’s 2011 Share Award Plan. This means the director’s interest in these derivatives is recorded as indirect ownership, with the trustee administering the awards according to the plan’s terms and vesting schedule.

Kamada (KMDA) director reports trustee-held option grants and cancellations

Rhea-AI Filing Summary

Positive

Negative