Kamada (KMDA) VP Yael Brenner Exercises Options (Net Exercise)

What Happened
Yael Brenner, Vice President, Quality at Kamada Ltd. (KMDA), exercised stock options covering 3,036 ordinary shares on September 2, 2026. The exercise is reported as a net (cashless) exercise: the option exercise generated a gross amount valued at $18,034 (3,036 shares @ $5.94, USD convenience conversion). After the company withheld shares to cover the exercise price and taxes, Brenner received 865 ordinary shares.

Key Details

• Transaction date: September 2, 2026; Form filed September 8, 2026. (Filed 6 days after the transaction — appears later than the usual 2-business-day Form 4 deadline.)
• Primary entries in the filing:
  • Exercise/Conversion (code M): 3,036 shares acquired @ $5.94 (total $18,034).
  • Payment of exercise price / tax withholding (code F): net result described in footnote — 865 shares were received on net exercise; the company withheld the remaining shares to cover exercise price and taxes.
• Withholding/valuation: the company used the closing share price of $8.37 (Bank of Israel USD conversion) for withholding calculations; exercise price was adjusted (previously $6.11) due to a special cash dividend declared Aug 17, 2026.
• Shares owned after transaction: not disclosed in the filing.
• Transaction codes: M = option exercise; F = payment of exercise price/tax withholding (net exercise).

Context

• This was a net (cashless) option exercise: Brenner exercised options covering 3,036 shares and ended up with 865 shares after the company withheld shares to pay the exercise price and taxes per the 2011 Share Award Plan.
• Footnotes note typical vesting (options vested in four equal annual installments) and that some holdings are held by a trustee under the Company’s plan.
• These filings report insider actions and are factual records of compensation-related stock movements; they do not by themselves indicate the insider’s view of the company stock beyond exercising vested options.