Kamada director acquires options on 60,000 shares

The options vest in four equal annual installments, with 25% vesting on each anniversary of the grant date.

Rhea-AI Filing Summary

KAMADA LTD director Lilach Payorski reported two indirect employee stock-option acquisitions on August 27, 2026, each covering 30,000 ordinary shares and held by a trustee under the company’s 2011 Share Award Plan. The listed exercise prices are $5.99 and $7.38 per share, adjusted in connection with a special cash dividend declared August 17, 2026. The prices are presented in USD using the exchange rate as of September 22, 2026. The options vest over four years in four equal installments and are exercisable for 10 years following the grant date.

Insider Trade Summary

Grant/Award: 60,000 shares

Grant/Award 2 txns

Insider Payorski Lilach

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy) F1, F4, F2, F3	30,000	$0.00	$0.00
Grant/Award	Employee Stock Option (right to buy) F1, F5, F2, F3	30,000	$0.00	$0.00

Holdings After Transaction: Employee Stock Option (right to buy) — 60,000 contracts (Indirect, Held by trustee)

Footnotes (5)

1. F1. The exercise prices of all options reported in this Form 4 are denominated in New Israeli Shekels (NIS). For presentation purposes, all exercise prices presented in this Form 4, including those referenced in the footnotes, are presented in U.S. dollars (USD) based on the NIS/USD exchange rate published by the Bank of Israel as of September 22, 2026.
2. F2. The options will vest over a period of four years in four equal installments, such that 25% of the options will vest on each anniversary of the grant date. The options will be exercisable for a period of 10 years following the date of grant, and all unexercised options will expire immediately thereafter.
3. F3. Held by trustee under the Company's 2011 Share Award Plan.
4. F4. This option was previously reported as covering 30,000 ordinary shares at an exercise price of $6.15. 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 with a record date for the special cash dividend of August 27, 2026.
5. F5. This option was previously reported as covering 30,000 ordinary shares at an exercise price of $7.55. 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 with a record date for the special cash dividend of August 27, 2026.

Key Figures

Underlying ordinary shares per option entry: 30,000 shares Exercise price: $5.99 per share Exercise price: $7.38 per share +3 more

6 metrics

Underlying ordinary shares per option entry 30,000 shares Each of the two reported option entries

Exercise price $5.99 per share One option entry; presented in USD

Exercise price $7.38 per share One option entry; presented in USD

Vesting period 4 years Options vest in four equal installments

Vesting installment 25% Vests on each anniversary of the grant date

Exercise period 10 years Following the grant date

Key Terms

exercise price, vest, record date, 2011 Share Award Plan

4 terms

exercise price financial

"The exercise prices of all options reported in this Form 4"

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.

vest financial

"The options will vest over a period of four years in four equal installments"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

record date financial

"record date for the special cash dividend of August 27, 2026"

The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.

2011 Share Award Plan financial

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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares do the KMDA options cover, and what are their exercise prices?

The two reported entries each cover options for 30,000 ordinary shares, with exercise prices of $5.99 and $7.38 per share. The options are held by a trustee under KAMADA LTD’s 2011 Share Award Plan; prices are presented in USD based on the Bank of Israel exchange rate as of September 22, 2026.

How do KMDA's reported options vest and when do they expire?

The options vest over four years in four equal installments, with 25% vesting on each anniversary of the grant date. They are exercisable for 10 years following the grant date, and unexercised options expire immediately thereafter.

Why did KMDA's option exercise prices change?

The exercise prices were adjusted in connection with a special cash dividend declared by KAMADA LTD’s board on August 17, 2026, with a record date of August 27, 2026. The two entries state prior exercise prices of $6.15 and $7.55 per share, respectively, and adjusted prices of $5.99 and $7.38 per share, respectively.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/24/2026 - 03:23 PM Accepted by SEC EDGAR 09/24/2026 - 03:22 PM Learn about SEC filing dates

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^*

Payorski Lilach

(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)
08/27/2026

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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$5.99(1)(4)	08/27/2026		A		30,000		(2)	(2)	Ordinary Shares	30,000	$0.00	30,000	I	Held by trustee(3)
Employee Stock Option (right to buy)	$7.38(1)(5)	08/27/2026		A		30,000		(2)	(2)	Ordinary Shares	30,000	$0.00	30,000	I	Held by trustee(3)

Explanation of Responses:

1. The exercise prices of all options reported in this Form 4 are denominated in New Israeli Shekels (NIS). For presentation purposes, all exercise prices presented in this Form 4, including those referenced in the footnotes, are presented in U.S. dollars (USD) based on the NIS/USD exchange rate published by the Bank of Israel as of September 22, 2026.

2. The options will vest over a period of four years in four equal installments, such that 25% of the options will vest on each anniversary of the grant date. The options will be exercisable for a period of 10 years following the date of grant, and all unexercised options will expire immediately thereafter.

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

4. This option was previously reported as covering 30,000 ordinary shares at an exercise price of $6.15. 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 with a record date for the special cash dividend of August 27, 2026.

5. This option was previously reported as covering 30,000 ordinary shares at an exercise price of $7.55. 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 with a record date for the special cash dividend of August 27, 2026.

	/s/ Lilach Payorski	09/24/2026
	** 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.
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* Form 4: SEC 1474 (03-26)