Kamada (NASDAQ: KMDA) director reports trustee-held option adjustments

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Kamada Ltd director and 10% owner Davidi Ishay reported multiple compensation-related option adjustments held by a trustee under the company’s 2011 Share Award Plan. The Form 4 shows paired acquisitions and dispositions of employee stock options, with 16 derivative transactions and no open‑market share purchases or sales.

The options cover blocks of 6,625 and 7,500 ordinary shares at exercise prices between $5.87 and $7.48, with expirations in 2026 and 2029. Footnotes state that exercise prices were adjusted for a cash dividend declared on March 11, 2026, and that vesting occurs in four equal annual installments from each grant date.

Insider Trade Summary

16 transactions reported

Mixed 16 txns

Insider DAVIDI ISHAY

Role Director, 10% Owner

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

Derivative transactions: 16 transactions Option block size 1: 6,625 options Option block size 2: 7,500 options +5 more

8 metrics

Derivative transactions 16 transactions Total derivative transaction count in Form 4

Option block size 1 6,625 options Employee stock options over ordinary shares per block

Option block size 2 7,500 options Employee stock options over ordinary shares per block

Lower exercise price range $5.87/share Employee stock option exercise price after adjustments

Higher exercise price range $7.48/share Employee stock option exercise price after adjustments

Near-term option expiry September 25, 2026 Expiration date for certain option grants

Longer-term option expiry June 22, 2029 Expiration date for later option grants

Acquisitions vs. dispositions 8 acquisitions, 8 dispositions Counts of option grants and issuer dispositions

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"

exercise price financial

"All exercise prices presented in U.S. dollars represent a convenience conversion"

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 - 03:02 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^*

DAVIDI ISHAY

(Last)

(First)

(Middle)

94 YIGAL ALON ST., ALON TOWER 2.

(Street)

TEL AVIV

(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	X	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/ Ishay Davidi	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 Davidi Ishay report?

The filing reports 16 derivative transactions involving employee stock options held by a trustee. These include eight option acquisitions and eight dispositions to the issuer, all compensation-related, with no open‑market share purchases or sales disclosed in this report.

How many Kamada (KMDA) options are involved in Davidi Ishay’s Form 4?

Each transaction block covers either 6,625 or 7,500 employee stock options over ordinary shares. The report lists multiple such blocks, reflecting adjustments and grants under Kamada’s 2011 Share Award Plan, rather than a single large market trade in the company’s stock.

What are the exercise prices and expirations of the Kamada (KMDA) options?

Exercise prices range from $5.87 to $7.48 per share, with stated expiration dates on September 25, 2026 and June 22, 2029. These options relate to Kamada ordinary shares and are held under the company’s 2011 Share Award Plan.

Why were Kamada (KMDA) option exercise prices adjusted in this filing?

Footnotes explain that option exercise prices were adjusted under the 2011 Share Award Plan in connection with a cash dividend distribution declared on March 11, 2026. Only the exercise prices changed; the footnotes state there were no other modifications to option terms.

How do Kamada (KMDA) options reported by Davidi Ishay vest?

The 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, aligning the option awards with longer‑term service and performance at Kamada Ltd.

Are the Kamada (KMDA) options held directly by Davidi Ishay?

The Form 4 identifies the ownership as indirect, noting the options are held by a trustee under Kamada’s 2011 Share Award Plan. This means the awards are administered through the plan trustee rather than being directly registered in Ishay’s own name.