Gorelik Boris 4

What Happened

• Boris Gorelik, VP of Business Development and Strategic Programs at Kamada Ltd. (KMDA), reported derivative transactions on April 7, 2026: four option-related acquisitions of 3,750 shares each (15,000 shares total) and four corresponding dispositions of 3,750 shares each (15,000 shares total) to the issuer.
• No prices or dollar values are reported in the filing (listed as N/A). The transactions are derivative in nature (options/exercise-related) rather than open-market buys or standard sales. Because the same number of shares were acquired and disposed, the transactions produced no net increase in Gorelik’s share count.

Key Details

• Transaction date: April 7, 2026; Form 4 filed April 9, 2026 (within the typical two-business-day reporting window).
• Shares: Four acquisitions of 3,750 shares each (total 15,000) and four dispositions of 3,750 shares each (total 15,000). Prices listed as N/A in the filing.
• Net effect: Acquired 15,000 derivative shares and disposed 15,000 shares to the issuer — net zero new shares held.
• Notable footnotes:
  • F1: USD exercise prices shown (where applicable) are convenience conversions from NIS using the Bank of Israel rate as of April 6, 2026.
  • F2: Option exercise price was adjusted per the company’s 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: Shares are held by a trustee under the 2011 Share Award Plan.
• Post-transaction holdings: The filing summary provided does not state Gorelik’s total shares owned after these transactions.

Context

• These are derivative transactions (options/awards). When exercised shares are simultaneously transferred back to the issuer, it commonly reflects a cashless/surrender settlement to cover exercise costs or tax withholding rather than an independent sale to the market. The filing shows no open-market sale or purchase that would signal a straightforward bullish or bearish view.
• Facts only — no inference about Gorelik’s intentions. Purchases typically attract more attention from investors; here the net effect is neutral.