SEC FORM 4

SEC FORM 4SEC 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^*

ORLEV CHAIME

(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)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/27/2026

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)

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)	$5.98⁽¹⁾⁽⁴⁾	08/27/2026		A		22,500		⁽²⁾	⁽²⁾	Ordinary Shares	22,500	$0.00	22,500	I	Held by trustee⁽³⁾
Employee Stock Option (right to buy)	$6.02⁽¹⁾⁽⁵⁾	08/27/2026		A		90,000		⁽²⁾	⁽²⁾	Ordinary Shares	90,000	$0.00	90,000	I	Held by trustee⁽³⁾
Employee Stock Option (right to buy)	$7.44⁽¹⁾⁽⁶⁾	08/27/2026		A		90,000		⁽²⁾	⁽²⁾	Ordinary Shares	90,000	$0.00	90,000	I	Held by trustee⁽³⁾

Explanation of Responses:

1. The exercise prices of all options reported in this Form 4 are denominated in New Israeli Shekels (NIS). For presentation purposes, all exercise prices presented in this Form 4, including those referenced in the footnotes, are presented in U.S. dollars (USD) based on the NIS/USD exchange rate published by the Bank of Israel as of September 22, 2026.

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

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

4. This option was previously reported as covering 22,500 ordinary shares at an exercise price of $6.15. The exercise price has been adjusted in connection with a special cash dividend distribution declared by the Company's board of directors on August 17, 2026 with a record date for the special cash dividend of August 27, 2026.

5. This option was previously reported as covering 90,000 ordinary shares at an exercise price of $6.19. The exercise price has been adjusted in connection with a special cash dividend distribution declared by the Company's board of directors on August 17, 2026 with a record date for the special cash dividend of August 27, 2026.

6. This option was previously reported as covering 90,000 ordinary shares at an exercise price of $7.61. The exercise price has been adjusted in connection with a special cash dividend distribution declared by the Company's board of directors on August 17, 2026 with a record date for the special cash dividend of August 27, 2026.

	/s/ Chaime Orlev	09/23/2026
	** 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).
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* Form 4: SEC 1474 (03-26)