Yael Brenner, VP Quality at Kamada Ltd, filed a Form 4 on September 8, 2026, disclosing a net exercise of employee stock options in ordinary shares on September 2, 2026.

Key Highlights

  • Transaction date: September 2, 2026, involving 3,036 ordinary shares acquired via option exercise (transaction code M).
  • Net exercise: Brenner received 865 ordinary shares on net exercise of the option to purchase 3,036 ordinary shares, with 2,171 shares withheld for exercise price and tax.
  • Closing stock price used: $8.37 per ordinary share on September 2, 2026, applied for share withholding under the Company's 2011 Share Award Plan.
  • Adjusted exercise price: The option exercise price was adjusted to $5.94 from a previously reported $6.11, following a special cash dividend declared by the board on August 17, 2026.
  • Resulting ownership: Following the transactions, Brenner directly holds 6,266 ordinary shares.
  • Derivative securities: The exercised employee stock option, held by a trustee under the 2011 Share Award Plan, has a remaining balance of 0 shares following the transaction.

Kamada VP Quality Reports Option Exercise and Share Withholding Under 2011 Plan

According to the filing, Yael Brenner, identified as VP Quality at Kamada Ltd (NASDAQ:KMDA), reported two transactions in ordinary shares on September 2, 2026. The first was an acquisition of 3,036 ordinary shares (transaction code M) via exercise of an employee stock option at an exercise price of $5.94 per share. The second was a disposition of 865 ordinary shares (transaction code F) at $8.37 per share. The filing notes that all prices expressed in U.S. dollars represent a convenience conversion from NIS based on the exchange rate published by the Bank of Israel as of September 2, 2026.

The filing explains that the disposition reflects a "net exercise" of outstanding stock options, in which the company withheld 2,171 ordinary shares underlying the option for payment of the exercise price and tax withholdings, using the closing stock price of $8.37 on September 2, 2026, pursuant to the terms of the Company's 2011 Share Award Plan. As a result, Brenner received a net 865 ordinary shares. The option had previously been reported as covering 3,036 shares at an exercise price of $6.11, but according to the filing, the exercise price was adjusted in connection with a special cash dividend distribution declared by the company's board of directors on August 17, 2026.

The filing also discloses that the options vested in four equal installments, with 25% vesting on each of the four anniversaries of the date of grant, and were held by a trustee under the Company's 2011 Share Award Plan. Following all reported transactions, the filing states that Brenner's direct beneficial ownership stands at 6,266 ordinary shares, and the employee stock option position is reduced to 0 derivative securities.

What Was Disclosed

Yael Brenner, VP Quality at Kamada Ltd, disclosed the net exercise of 3,036 employee stock options on September 2, 2026, resulting in receipt of 865 ordinary shares after withholding, and a post-transaction direct holding of 6,266 ordinary shares.