Kamada VP reports routine option grant adjustments

Kamada Ltd VP of Plasma Operations Beladev Shavit reported routine employee stock option adjustments held through a trustee under the company’s 2011 Share Award Plan.

Rhea-AI Filing Summary

Kamada Ltd VP of Plasma Operations Beladev Shavit reported routine employee stock option adjustments held through a trustee under the company’s 2011 Share Award Plan. The Form 4 shows five grants or awards and five matching dispositions to the issuer, each involving 15,000 options for Ordinary Shares.

Exercise prices, presented in U.S. dollars, range from $5.87 to $7.50 per share and were adjusted under the plan after a cash dividend declared on March 11, 2026. The options vest in four equal annual installments from the grant date and some series carry expiration dates as late as 2035.

Insider Trade Summary

10 transactions reported

Mixed 10 txns

Insider Beladev Shavit

Role VP Plasma Operations

Type	Security	Shares	Price	Value
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Grant/Award	Employee Stock Option (right to buy)	15,000	$0.00	$0.00
Disposition	Employee Stock Option (right to buy)	15,000	$0.00	$0.00

Holdings After Transaction: Employee Stock Option (right to buy) — 150,000 contracts (Indirect, Held by trustee)

Footnotes (4)

1. F1. 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. F2. 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. F3. Options vest in four equal installments, with 25% vesting on each of the four anniversaries of the date of grant.
4. F4. Held by trustee under the Company's 2011 Share Award Plan.

Key Figures

Option grant size: 15,000 options Exercise price (low): $5.87 per share Exercise price (high): $7.50 per share +5 more

8 metrics

Option grant size 15,000 options Each employee stock option grant or disposition entry

Exercise price (low) $5.87 per share Employee stock option exercise price after adjustment

Exercise price (high) $7.50 per share Employee stock option exercise price after adjustment

Derivative transactions 10 entries Form 4 derivativeTransactionCount for options

Acquire vs dispose counts 5 acquires, 5 disposes transactionSummary counts for options activity

Early exercise date February 28, 2026 Exercise date on certain option series

Latest exercise date October 22, 2029 Exercise date on later‑vesting option series

Latest expiration October 22, 2035 Expiration date for long‑dated options

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""

2011 Share Award Plan financial

"pursuant to the provisions of the Company's 2011 Share Award Plan"

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.

vest in four equal installments financial

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

FAQ

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

What insider activity did Kamada (KMDA) report for VP Beladev Shavit?

Kamada reported that VP Plasma Operations Beladev Shavit had employee stock option activity involving five grants or awards and five matching dispositions, each for 15,000 options held by a trustee under the company’s 2011 Share Award Plan, with no open‑market buying or selling disclosed.

How many Kamada (KMDA) stock options are involved in Beladev Shavit’s Form 4?

Each reported transaction involves 15,000 employee stock options tied to Kamada Ordinary Shares. The filing lists multiple grants or awards and matching dispositions of 15,000 options, rather than a single aggregated total, all held indirectly through a trustee under the 2011 Share Award Plan.

What are the exercise prices on the Kamada (KMDA) options reported for Beladev Shavit?

The reported employee stock options show exercise prices of $5.87, $6.12, $7.25, and $7.50 per share. Footnotes explain that these U.S. dollar amounts are convenience conversions from NIS and were adjusted under the 2011 Share Award Plan after a cash dividend declaration.

How do Beladev Shavit’s Kamada (KMDA) options vest according to the filing?

The options vest in four equal installments, with 25% of the grant vesting on each of the four anniversaries of the date of grant. This creates an annual vesting schedule over four years for the employee stock options reported for VP Plasma Operations Beladev Shavit.

Why were Kamada (KMDA) option exercise prices adjusted in this Form 4?

The exercise prices were adjusted under Kamada’s 2011 Share Award Plan because the board declared a cash dividend on March 11, 2026. The filing states that aside from this dividend‑related price adjustment, there are no other changes to the terms of the option awards.

How are Beladev Shavit’s Kamada (KMDA) options held according to the Form 4 footnotes?

The options are held by a trustee under Kamada’s 2011 Share Award Plan, indicating indirect ownership. The filing notes the nature of ownership as “Held by trustee,” meaning the trustee holds the employee stock options on behalf of VP Plasma Operations Beladev Shavit.

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

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Accepted by SEC EDGAR 04/09/2026 - 02:35 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^*

Beladev Shavit

(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)
	VP Plasma Operations

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)
			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)	$5.87(1)(2)	04/07/2026		A		15,000		02/28/2026(3)	08/28/2028	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$6.12(1)	04/07/2026		D			15,000	02/28/2026(3)	08/28/2028	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$7.25(1)(2)	04/07/2026		A		15,000		10/22/2026(3)	10/22/2035	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$7.5(1)	04/07/2026		D			15,000	10/22/2026(3)	10/22/2035	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$7.25(1)(2)	04/07/2026		A		15,000		10/22/2027(3)	10/22/2035	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$7.5(1)	04/07/2026		D			15,000	10/22/2027(3)	10/22/2035	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$7.25(1)(2)	04/07/2026		A		15,000		10/22/2028(3)	10/22/2035	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$7.5(1)	04/07/2026		D			15,000	10/22/2028(3)	10/22/2035	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$7.25(1)(2)	04/07/2026		A		15,000		10/22/2029(3)	10/22/2035	Ordinary Shares	15,000	(2)	15,000	I	Held by trustee(4)
Employee Stock Option (right to buy)	$7.5(1)	04/07/2026		D			15,000	10/22/2029(3)	10/22/2035	Ordinary Shares	15,000	(2)	15,000	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/ Shavit Beladev	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)