DAVIDI ISHAY 4

What Happened

• Davidi Ishay, reported as a 10% owner of Kamada Ltd. (KMDA), was the recipient of multiple derivative awards (options) totaling 56,500 shares on April 7, 2026. On the same date Ishay recorded dispositions to the issuer totaling the same 56,500 shares, resulting in no net change in reported beneficial ownership. No per-share or total dollar price was reported (listed as N/A).

Key Details

• Transaction date: April 7, 2026. Form filed April 9, 2026 (appears timely — within the usual two-business-day Form 4 window).
• Total granted (derivative awards/options): 56,500 shares; total disposed to issuer: 56,500 shares; net change = 0 shares.
• Price: N/A (no cash price reported for these derivative transactions).
• Footnotes of note:
  • Exercise prices shown are USD conversions of NIS using Bank of Israel rate as of April 6, 2026 (F1).
  • Exercise price of the options was adjusted due to a cash dividend declared March 11, 2026 (F2).
  • Options vest in four equal annual installments (25% each year) (F3).
  • Awards are held by a trustee under the Company’s 2011 Share Award Plan (F4).
• Insider status: Ishay is a 10% owner (this is a large-holder filing, not necessarily an officer/manager trade).

Context

• These are derivative transactions (option awards under the Company’s 2011 Share Award Plan) and not open-market purchases or sales of common stock. The simultaneous grants and dispositions left Ishay’s reported beneficial ownership unchanged.
• Footnotes indicate the awards are subject to standard plan terms (vesting schedule) and that exercise prices were adjusted for a board-declared dividend; trustee involvement suggests plan-based administration rather than a market sale.
• As always, such plan-driven transactions are often administrative and do not by themselves indicate a change in insider sentiment.