SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Brenner Yael

(Last)

(First)

(Middle)

2 HOLTZMAN ST.

(Street)

REHOVOT

(City)

(State)

(Zip)

ISRAEL

(Country)

2. Issuer Name and Ticker or Trading Symbol
KAMADA LTD [ KMDA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP Quality

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Ordinary Shares	09/14/2026		M		5,000	A	$5.93⁽¹⁾	11,266	D
Ordinary Shares	09/14/2026		F⁽²⁾		1,371	D	$8.36⁽¹⁾	6,266	D
Ordinary Shares	09/14/2026		M		5,000	A	$5.93⁽¹⁾	11,266	D
Ordinary Shares	09/14/2026		F⁽³⁾		1,371	D	$8.36⁽¹⁾	6,266	D
Ordinary Shares	09/14/2026		M		5,000	A	$5.93⁽¹⁾	11,266	D
Ordinary Shares	09/14/2026		F⁽⁴⁾		1,371	D	$8.36⁽¹⁾	6,266	D
Ordinary Shares	09/14/2026		M		6,500	A	$5.93⁽¹⁾	12,766	D
Ordinary Shares	09/14/2026		F⁽⁵⁾		1,783	D	$8.36⁽¹⁾	6,266	D
Ordinary Shares	09/14/2026		M		5,464	A	$5.93⁽¹⁾	11,730	D
Ordinary Shares	09/14/2026		F⁽⁶⁾		1,499	D	$8.35⁽¹⁾	6,266	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (right to buy)	$5.93⁽¹⁾	09/14/2026		M			5,000	⁽⁷⁾	⁽⁷⁾	Ordinary Shares	5,000	$0.00	0	I	Held by trustee⁽⁸⁾
Employee Stock Option (right to buy)	$5.93⁽¹⁾	09/14/2026		M			5,000	⁽⁷⁾	⁽⁷⁾	Ordinary Shares	5,000	$0.00	0	I	Held by trustee⁽⁸⁾
Employee Stock Option (right to buy)	$5.93⁽¹⁾	09/14/2026		M			5,000	⁽⁷⁾	⁽⁷⁾	Ordinary Shares	5,000	$0.00	0	I	Held by trustee⁽⁸⁾
Employee Stock Option (right to buy)	$5.93⁽¹⁾	09/14/2026		M			6,500	⁽⁷⁾	⁽⁷⁾	Ordinary Shares	6,500	$0.00	0	I	Held by trustee⁽⁸⁾
Employee Stock Option (right to buy)	$5.93⁽¹⁾	09/14/2026		M			5,464	⁽⁷⁾	⁽⁷⁾	Ordinary Shares	5,464	$0.00	0	I	Held by trustee⁽⁸⁾

Explanation of Responses:

1. All exercise and sale 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 September 14, 2026.

2. Represents a "net exercise" of outstanding stock options. The reporting person received 1,371 ordinary shares on net exercise of option to purchase 5,000 ordinary shares. The Company withheld 3,629 ordinary shares underlying the option for payment of the exercise price and tax withholdings, using the closing stock price on September 14, 2026 of $8.36, pursuant to the terms of the Company's 2011 Share Award Plan.

3. Represents a "net exercise" of outstanding stock options. The reporting person received 1,371 ordinary shares on net exercise of option to purchase 5,000 ordinary shares. The Company withheld 3,629 ordinary shares underlying the option for payment of the exercise price and tax withholdings, using the closing stock price on September 14, 2026 of $8.36, pursuant to the terms of the Company's 2011 Share Award Plan.

4. Represents a "net exercise" of outstanding stock options. The reporting person received 1,371 ordinary shares on net exercise of option to purchase 5,000 ordinary shares. The Company withheld 3,629 ordinary shares underlying the option for payment of the exercise price and tax withholdings, using the closing stock price on September 14, 2026 of $8.36, pursuant to the terms of the Company's 2011 Share Award Plan.

5. Represents a "net exercise" of outstanding stock options. The reporting person received 1,783 ordinary shares on net exercise of option to purchase 6,500 ordinary shares. The Company withheld 4,717 ordinary shares underlying the option for payment of the exercise price and tax withholdings, using the closing stock price on September 14, 2026 of $8.36, pursuant to the terms of the Company's 2011 Share Award Plan.

6. Represents a "net exercise" of outstanding stock options. The reporting person received 1,499 ordinary shares on net exercise of option to purchase 5,464 ordinary shares. The Company withheld 3,965 ordinary shares underlying the option for payment of the exercise price and tax withholdings, using the closing stock price on September 14, 2026 of $8.35, pursuant to the terms of the Company's 2011 Share Award Plan.

7. Options vested in four equal installments, with 25% vested on each of the four anniversaries of the date of grant.

8. Held by trustee under the Company's 2011 Share Award Plan.

	/S/ Yael Brenner	09/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)