Kamada (KMDA) director adjusts option awards after cash dividend change

Q: Were the Kamada (KMDA) Form 4 transactions open-market buys or sells?

No. The Form 4 lists grant/award acquisitions (code A) and dispositions to the issuer (code D) of Employee Stock Options. These are plan-related adjustments and awards, not open-market purchases or sales of Kamada ordinary shares on an exchange.

Q: How many Kamada (KMDA) options are shown per award in the Form 4?

Each line of the filing shows 6,625 or 7,500 Employee Stock Options outstanding following the reported transaction. These options relate to Kamada ordinary shares and are held indirectly by a trustee under the company’s 2011 Share Award Plan.

Q: When do the Kamada (KMDA) options reported by David Tsur expire?

The options in this Form 4 have expiration dates including September 25, 2026 and June 22, 2029 . They vest in four equal annual installments from their respective grant dates, according to the company’s 2011 Share Award Plan terms.

Q: How do the Kamada (KMDA) options reported here vest over time?

Footnotes explain these Employee Stock Options vest in four equal installments , with 25% vesting on each of the four anniversaries of the grant date. This creates a multi-year vesting schedule tied to continued service under Kamada’s 2011 Share Award Plan.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Kamada Ltd director David Tsur, through a trustee under the company’s 2011 Share Award Plan, reported a series of routine option award adjustments on Employee Stock Options (right to buy) linked to Ordinary Shares. The filing shows multiple grant acquisitions and matching dispositions back to the issuer at different exercise prices, leaving each award with 6,625 or 7,500 options outstanding per line. Exercise prices are stated in U.S. dollars as a convenience translation from NIS and were adjusted under the plan following a cash dividend declared by the board. The options vest in four equal annual installments from each grant date and carry expiration dates in 2026 and 2029.

Insider Trade Summary

16 transactions reported

Mixed 16 txns

Insider Tsur David

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: $7.23 per share +4 more

7 metrics

Option grant size 6,625 options Employee Stock Option per award held by trustee

Option grant size 7,500 options Employee Stock Option per award held by trustee

Exercise price $7.23 per share Convenience conversion from NIS for adjusted options

Exercise price $5.87 per share Convenience conversion from NIS for adjusted options

Option expiration September 25, 2026 Expiration date for certain Employee Stock Options

Option expiration June 22, 2029 Expiration date for later Employee Stock Options

Vesting schedule 25% annually over 4 years Options vest in four equal installments from grant date

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"

Held by trustee financial

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

Form 4 Insider Transactions: What Each Field Means →

04/09/2026 - 02:37 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^*

Tsur David

(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/ David Tsur	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 activity did Kamada (KMDA) report for director David Tsur?

The filing shows David Tsur, via a trustee, recorded multiple Employee Stock Option grants and equal dispositions to the issuer. These transactions adjust existing option awards rather than open-market trades and leave specified option amounts outstanding under Kamada’s 2011 Share Award Plan.

Were the Kamada (KMDA) Form 4 transactions open-market buys or sells?

No. The Form 4 lists grant/award acquisitions (code A) and dispositions to the issuer (code D) of Employee Stock Options. These are plan-related adjustments and awards, not open-market purchases or sales of Kamada ordinary shares on an exchange.

How many Kamada (KMDA) options are shown per award in the Form 4?

Each line of the filing shows 6,625 or 7,500 Employee Stock Options outstanding following the reported transaction. These options relate to Kamada ordinary shares and are held indirectly by a trustee under the company’s 2011 Share Award Plan.

What are the exercise prices of the Kamada (KMDA) options in this Form 4?

The reported Employee Stock Options carry exercise prices such as $7.23, $7.48, $5.87, and $6.12 per share. These prices reflect a convenience conversion from NIS and were adjusted under Kamada’s 2011 Share Award Plan after a cash dividend.

When do the Kamada (KMDA) options reported by David Tsur expire?

The options in this Form 4 have expiration dates including September 25, 2026 and June 22, 2029. They vest in four equal annual installments from their respective grant dates, according to the company’s 2011 Share Award Plan terms.

How do the Kamada (KMDA) options reported here vest over time?

Footnotes explain these Employee Stock Options vest in four equal installments, with 25% vesting on each of the four anniversaries of the grant date. This creates a multi-year vesting schedule tied to continued service under Kamada’s 2011 Share Award Plan.