SEC FORM 3

SEC FORM 3SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Asher-Topilsky Lilach

(Last)

(First)

(Middle)

94 YIGAL ALON ST., ALON TOWER 2.

(Street)

TEL AVIV

6789139

(City)

(State)

(Zip)

ISRAEL

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

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

3a. Foreign Trading Symbol

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

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

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

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

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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Employee Stock Option (right to buy)	03/25/2021⁽¹⁾	09/25/2026	Ordinary Shares	6,625	$7.6⁽²⁾⁽³⁾	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	03/25/2022⁽¹⁾	09/25/2026	Ordinary Shares	6,625	$7.6⁽²⁾⁽³⁾	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	03/25/2023⁽¹⁾	09/25/2026	Ordinary Shares	6,625	$7.6⁽²⁾⁽³⁾	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	12/22/2023⁽¹⁾	06/22/2029	Ordinary Shares	7,500	$6.17⁽²⁾⁽³⁾	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	03/25/2024⁽¹⁾	09/25/2026	Ordinary Shares	6,625	$7.6⁽²⁾⁽³⁾	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	12/22/2024⁽¹⁾	06/22/2029	Ordinary Shares	7,500	$6.17⁽²⁾⁽³⁾	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	12/22/2025⁽¹⁾	06/22/2029	Ordinary Shares	7,500	$6.17⁽²⁾⁽³⁾	I	Held by trustee⁽⁴⁾
Employee Stock Option (right to buy)	12/22/2026⁽¹⁾	06/22/2029	Ordinary Shares	7,500	$6.17⁽²⁾⁽³⁾	I	Held by trustee⁽⁴⁾

Explanation of Responses:

1. Options vest in four equal installments, with 25% vesting on each of the four anniversaries of the date of grant.

2. All exercise 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 April 16, 2026.

3. The exercise price of the options was adjusted from $7.85 to $7.60 and from $6.42 to $6.17, respectively, pursuant to the provisions of the Company's 2011 Share Award Plan in connection with a cash dividend distribution declared by the Company's board of directors on March 11, 2026. There are no other changes to the terms and conditions of the option award.

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

	/S/ Lilach Asher Topilsky	04/16/2026
	** 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 5 (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 3: SEC 1473 (03-26)

SEC Form 3 filed by new insider Asher-Topilsky Lilach