Reshef Liron 4
4 · KAMADA LTD · Filed Apr 9, 2026
Research Summary
AI-generated summary of this filing
Kamada (KMDA) VP Reshef Liron Receives Awards; 100,000 Shares Surrendered
What Happened
Reshef Liron, Vice President of Human Resources at Kamada Ltd. (KMDA), received multiple derivative awards under the company’s 2011 Share Award Plan on April 7, 2026 totaling 100,000 underlying shares (several grants of 10,000 and 15,000 each). On the same date, an equal total of 100,000 derivative securities were disposed to the issuer. The filing lists no per-share cash value (N/A) for these transactions, so no dollar value is reported in the Form 4. Because the grants and the dispositions match in quantity, there is no net increase in shares beneficially owned reported in the filing.
Key Details
- Transaction date: April 7, 2026; Form 4 filed April 9, 2026 (filed timely).
- Grants: multiple awards totaling 100,000 derivative shares (options/awards) — specific grant sizes: 10k, 10k, 10k, 15k, 10k, 15k, 15k, 15k.
- Dispositions: matching dispositions to the issuer totaling 100,000 derivative shares on the same date.
- Price/value: Reported as N/A in the filing; footnote F1 notes USD conversions from NIS for exercise prices as a convenience.
- Shares owned after transaction: not specified in the reported data.
- Notable footnotes:
- F2: Exercise price of the options was adjusted per 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 2011 Share Award Plan.
- Filing timeliness: Reported within the required window (no late-filing indicator).
Context
These are derivative transactions under Kamada’s share award plan (i.e., option/award activity). A same-day “disposition to the issuer” commonly reflects shares being surrendered to the company (for example, to satisfy withholding obligations or payment of exercise costs), which is why the grants and dispositions net to zero in this filing. The grants vest over four years per footnote F3; note that the exercise price was adjusted due to a dividend (F2). This filing does not report a cash purchase or open-market sale that would more directly signal insider buying or selling.
Insider Transaction Report
- Award
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07+10,000→ 10,000 total(indirect: By Trust)Exercise: $5.04From: 2024-03-02Exp: 2029-09-02→ Ordinary Shares (10,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07−10,000→ 10,000 total(indirect: By Trust)Exercise: $5.29From: 2024-03-02Exp: 2029-09-02→ Ordinary Shares (10,000 underlying) - Award
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07+10,000→ 10,000 total(indirect: By Trust)Exercise: $5.04From: 2025-03-02Exp: 2029-09-02→ Ordinary Shares (10,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07−10,000→ 10,000 total(indirect: By Trust)Exercise: $5.29From: 2025-03-02Exp: 2029-09-02→ Ordinary Shares (10,000 underlying) - Award
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07+10,000→ 10,000 total(indirect: By Trust)Exercise: $5.04From: 2026-03-02Exp: 2029-09-02→ Ordinary Shares (10,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07−10,000→ 10,000 total(indirect: By Trust)Exercise: $5.29From: 2026-03-02Exp: 2029-09-02→ Ordinary Shares (10,000 underlying) - Award
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07+15,000→ 15,000 total(indirect: By Trust)Exercise: $7.25From: 2026-10-22Exp: 2035-10-22→ Ordinary Shares (15,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07−15,000→ 15,000 total(indirect: By Trust)Exercise: $7.50From: 2026-10-22Exp: 2035-10-22→ Ordinary Shares (15,000 underlying) - Award
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07+10,000→ 10,000 total(indirect: By Trust)Exercise: $5.04From: 2027-03-02Exp: 2029-09-02→ Ordinary Shares (10,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07−10,000→ 10,000 total(indirect: By Trust)Exercise: $5.29From: 2027-03-02Exp: 2029-09-02→ Ordinary Shares (10,000 underlying) - Award
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07+15,000→ 15,000 total(indirect: By Trust)Exercise: $7.25From: 2027-10-22Exp: 2035-10-22→ Ordinary Shares (15,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07−15,000→ 15,000 total(indirect: By Trust)Exercise: $7.50From: 2027-10-22Exp: 2035-10-22→ Ordinary Shares (15,000 underlying) - Award
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07+15,000→ 15,000 total(indirect: By Trust)Exercise: $7.25From: 2028-10-22Exp: 2035-10-22→ Ordinary Shares (15,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07−15,000→ 15,000 total(indirect: By Trust)Exercise: $7.50From: 2028-10-22Exp: 2035-10-22→ Ordinary Shares (15,000 underlying) - Award
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07+15,000→ 15,000 total(indirect: By Trust)Exercise: $7.25From: 2029-10-22Exp: 2035-10-22→ Ordinary Shares (15,000 underlying) - Disposition to Issuer
Employee Stock Option (right to buy)
[F1][F2][F3][F4]2026-04-07−15,000→ 15,000 total(indirect: By Trust)Exercise: $7.50From: 2029-10-22Exp: 2035-10-22→ Ordinary Shares (15,000 underlying)
Footnotes (4)
- [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.
- [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.
- [F3]Options vest in four equal installments, with 25% vesting on each of the four anniversaries of the date of grant.
- [F4]Held by trustee under the Company's 2011 Share Award Plan.