Hanni Neheman, VP of Marketing and Sales at Kamada Ltd, filed a Form 4 on September 23, 2026, reporting adjustments to the exercise prices of two previously granted employee stock options following a special cash dividend declared by the company's board of directors.

Key Highlights

  • Reporting person: Hanni Neheman, VP of Marketing and Sales at Kamada Ltd (NASDAQ:KMDA)
  • Option adjustment 1: Exercise price on 15,000 ordinary shares reduced from $6.15 to $5.98, reported as an acquisition (Code A) on 08/27/2026
  • Option adjustment 2: Exercise price on 60,000 ordinary shares reduced from $7.61 to $7.44, reported as an acquisition (Code A) on 08/27/2026
  • Trigger for adjustments: A special cash dividend declared by the board of directors on August 17, 2026, with a record date of August 27, 2026
  • Vesting schedule: Both options vest in four equal installments of 25% on each of the four anniversaries of the date of grant
  • Ownership structure: Both option positions are held indirectly by a trustee under the company's 2011 Share Award Plan
  • Exercise price currency: All exercise prices are denominated in New Israeli Shekels (NIS); USD figures reflect the NIS/USD exchange rate published by the Bank of Israel as of September 22, 2026

Kamada VP's Stock Options Repriced Following Special Cash Dividend

According to the filing, the exercise price adjustments were made in connection with a special cash dividend distribution declared by Kamada's board of directors on August 17, 2026. The record date for that dividend was August 27, 2026, which is also the transaction date listed for both option entries in the Form 4. The filing does not specify the amount of the special cash dividend.

The first option, covering 15,000 ordinary shares, had its exercise price adjusted from $6.15 to $5.98. The second option, covering 60,000 ordinary shares, had its exercise price adjusted from $7.61 to $7.44. Both options carry a reported price of $0.00 for the transaction itself and are classified as acquisitions under Transaction Code A. Both result in 15,000 and 60,000 derivative securities beneficially owned following the reported transactions, respectively. The filing notes that all exercise prices are originally denominated in NIS, with the USD figures converted using the Bank of Israel exchange rate as of September 22, 2026.

Both option grants are held indirectly by a trustee under the company's 2011 Share Award Plan, and each vests in four equal installments of 25% on each of the four anniversaries of the grant date. The Form 4 was filed by one reporting person and signed by Hanni Neheman on September 23, 2026.

What Was Disclosed

Kamada Ltd's VP of Marketing and Sales disclosed adjustments to the exercise prices of two employee stock options - covering 15,000 and 60,000 ordinary shares - following a special cash dividend declared by the board in August 2026. Both options are held by a trustee and vest over four years.