Neheman Hanni 4

What Happened
Hanni Neheman, Vice President, Marketing & Sales of Kamada Ltd. (KMDA), recorded a series of derivative transactions on April 7, 2026 that amount to exercising option awards. The Form 4 shows five acquisitions (code A) of 15,000 derivative shares each and five corresponding dispositions to the issuer (code D) of 15,000 shares each — a total of 75,000 shares acquired and 75,000 shares disposed/withheld. No per-share prices or total dollar values are reported in the filing (prices shown as N/A).

Key Details

• Transaction date: April 7, 2026; Form 4 filed April 9, 2026 (appears timely).
• Activity: Five option-related acquisitions (5 × 15,000 = 75,000) immediately followed by dispositions to the issuer (5 × 15,000 = 75,000).
• Price/value: Exercise price and dollar amounts are reported as N/A in this excerpt. Footnote explains USD conversions (F1).
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Relevant footnotes from the filing:
  • F1: USD prices (where shown) are convenience conversions from NIS using Bank of Israel rate as of Apr 6, 2026.
  • F2: Exercise price of the options was adjusted under the 2011 Share Award Plan due to a cash dividend declared Mar 11, 2026.
  • F3: Options vest in four equal annual installments (25% each anniversary).
  • F4: Awards are held by a trustee under the Company’s 2011 Share Award Plan.
• The Form 4 records the transactions as derivative activity (options/awards) rather than open-market buys or sales.

Context
Disposition to the issuer following an acquisition of derivative shares commonly reflects a net share settlement or shares withheld to cover taxes/exercise costs, but the filing itself does not specify the reason. Because these are option-related derivative transactions rather than open-market purchases or sales, they do not by themselves signal a straightforward bullish or bearish trade intent.