Kamada (KMDA) adjusts CFO stock options following cash dividend move

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Kamada Ltd Chief Financial Officer Chaime Orlev reported a series of administrative option adjustments under the company’s 2011 Share Award Plan. All entries relate to employee stock options held indirectly by a trustee, not to open-market share purchases or sales.

The filing shows nine grants and nine matching dispositions of options on ordinary shares, with exercise prices such as $5.87, $5.90, $6.12, $6.15, $7.25 and $7.50 per share presented in U.S. dollars. Footnotes explain that exercise prices were adjusted under the plan following a cash dividend declared on March 11, 2026, and that options vest in four equal annual installments.

Insider Trade Summary

18 transactions reported

Mixed 18 txns

Insider ORLEV CHAIME

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--
Grant/Award	Employee Stock Option (right to buy)	22,500	$0.00	--
Disposition	Employee Stock Option (right to buy)	22,500	$0.00	--

Holdings After Transaction: Employee Stock Option (right to buy) — 22,500 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: 18 option transactions Grant transactions: 9 option grants Disposition transactions: 9 option dispositions +4 more

7 metrics

Derivative transactions 18 option transactions All on <date>2026-04-07</date>, grants and dispositions

Grant transactions 9 option grants Classified as acquisitions of employee stock options

Disposition transactions 9 option dispositions Classified as dispositions to issuer, offsetting grants

Option size per line 22,500 options Underlying ordinary shares per derivative entry

Adjusted exercise prices $5.87–$7.50 per share Exercise prices presented in U.S. dollars after adjustment

Vesting schedule 25% per year over 4 years Options vest on each of four anniversaries of grant

transactionSummary net direction Neutral net buy/sell NetBuySellShares reported as 0 in summary

Key Terms

Employee Stock Option (right to buy), Disposition to issuer, 2011 Share Award Plan, cash dividend distribution, +2 more

6 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"

vest in four equal installments financial

"Options vest in four equal installments, with 25% vesting"

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 - 03:03 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^*

ORLEV CHAIME

(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)

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

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)	$5.9⁽¹⁾⁽²⁾	04/07/2026		A		22,500		05/28/2024⁽³⁾	11/28/2029	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.15⁽¹⁾	04/07/2026		D			22,500	05/28/2024⁽³⁾	11/28/2029	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.9⁽¹⁾⁽²⁾	04/07/2026		A		22,500		05/28/2025⁽³⁾	11/28/2029	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.15⁽¹⁾	04/07/2026		D			22,500	05/28/2025⁽³⁾	11/28/2029	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.87⁽¹⁾⁽²⁾	04/07/2026		A		22,500		02/28/2026⁽³⁾	08/28/2028	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.12⁽¹⁾	04/07/2026		D			22,500	02/28/2026⁽³⁾	08/28/2028	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.9⁽¹⁾⁽²⁾	04/07/2026		A		22,500		05/28/2026⁽³⁾	11/28/2029	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.15⁽¹⁾	04/07/2026		D			22,500	05/28/2026⁽³⁾	11/28/2029	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.25⁽¹⁾⁽²⁾	04/07/2026		A		22,500		10/22/2026⁽³⁾	10/22/2035	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$7.5⁽¹⁾	04/07/2026		D			22,500	10/22/2026⁽³⁾	10/22/2035	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$5.9⁽¹⁾⁽²⁾	04/07/2026		A		22,500		05/28/2027⁽³⁾	11/28/2029	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	$6.15⁽¹⁾	04/07/2026		D			22,500	05/28/2027⁽³⁾	11/28/2029	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee
Employee Stock Option (right to buy)	$7.25⁽¹⁾⁽²⁾	04/07/2026		A		22,500		10/22/2027⁽³⁾	10/22/2035	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee
Employee Stock Option (right to buy)	$7.5⁽¹⁾	04/07/2026		D			22,500	10/22/2027⁽³⁾	10/22/2035	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee
Employee Stock Option (right to buy)	$7.25⁽¹⁾⁽²⁾	04/07/2026		A		22,500		10/22/2028⁽³⁾	10/22/2035	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee
Employee Stock Option (right to buy)	$7.5⁽¹⁾	04/07/2026		D			22,500	10/22/2028⁽³⁾	10/22/2035	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee
Employee Stock Option (right to buy)	$7.25⁽¹⁾⁽²⁾	04/07/2026		A		22,500		10/22/2029⁽³⁾	10/22/2035	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee
Employee Stock Option (right to buy)	$7.5⁽¹⁾	04/07/2026		D			22,500	10/22/2029⁽³⁾	10/22/2035	Ordinary Shares	22,500	⁽²⁾	22,500	I	Held by trustee

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/ Chaime Orlev	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 did Kamada (KMDA) CFO Chaime Orlev report in this Form 4?

The Form 4 reports administrative adjustments to employee stock options held for CFO Chaime Orlev. These are grants and matching dispositions to the issuer, not open-market trades, reflecting updated option terms under Kamada’s 2011 Share Award Plan after a declared cash dividend.

Were any Kamada (KMDA) shares bought or sold on the market in this filing?

No, the filing shows no open-market share purchases or sales. All 18 transactions involve employee stock options, recorded as grants or dispositions to the issuer, and are held indirectly by a trustee under Kamada’s 2011 Share Award Plan rather than traded in the market.

How many derivative transactions are disclosed for Kamada (KMDA) CFO in this Form 4?

The filing discloses 18 derivative transactions for the CFO. These consist of nine option grants classified as acquisitions and nine corresponding dispositions to the issuer, keeping net buy-sell activity neutral and reflecting option term adjustments rather than new market exposure.

Why were Kamada (KMDA) CFO stock option exercise prices adjusted?

The exercise prices were adjusted under Kamada’s 2011 Share Award Plan following a cash dividend declared on March 11, 2026. Footnotes state that only the exercise price changed; there were no other changes to the terms and conditions of the existing option awards.

How do the Kamada (KMDA) CFO options granted in this filing vest?

The options vest in four equal installments, with 25% vesting on each of the four anniversaries of the grant date. This standard vesting schedule spreads the CFO’s ability to exercise options over several years, aligning compensation with longer-term company performance.

In whose name are the Kamada (KMDA) CFO options held according to the Form 4?

The options are held indirectly by a trustee under Kamada’s 2011 Share Award Plan. The Form 4 marks the holdings as indirect and notes they are “held by trustee,” clarifying that the awards are administered through the plan rather than directly in the executive’s personal brokerage account.