Gregory J. Divis - Jun 5, 2023 Form 4 Insider Report for AVADEL PHARMACEUTICALS PLC (AVDL)

Role: Chief Executive Officer, Director
Signature: /s/ Jerad G. Seurer, as Attorney-in-Fact
Stock symbol: AVDL
Transactions as of: Jun 5, 2023
Transactions value $: $0
Form type: 4
Date filed: 6/5/2023, 09:29 PM
Previous filing: May 31, 2022
Next filing: Aug 10, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AVDL	Stock Option (Right to Buy)	Award	$0	+350K		$0.00	350K	Jun 5, 2023	ADSs	350K	$4.69	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On August 4, 2022, the Reporting Person was granted an option to purchase 350,000 ADSs, for which vesting was subject to the satisfaction of certain performance criteria. The performance criteria were met on June 5, 2023 (the "First Vesting Date"), resulting in the vesting of 50% of the ADSs underlying such option. The remaining ADSs will vest on the one year anniversary of the First Vesting Date, subject to the Reporting Person's continued service at such time.
F2	The issuer's "ADSs" are American Depositary Shares, with each ADS representing one ordinary share, nominal value $0.01 per share, of the issuer; ADSs may be represented by American Depositary Receipts.

Content

On August 4, 2022, the Reporting Person was granted an option to purchase 350,000 ADSs, for which vesting was subject to the satisfaction of certain performance criteria. The performance criteria were met on June 5, 2023 (the "First Vesting Date"), resulting in the vesting of 50% of the ADSs underlying such option. The remaining ADSs will vest on the one year anniversary of the First Vesting Date, subject to the Reporting Person's continued service at such time.

The issuer's "ADSs" are American Depositary Shares, with each ADS representing one ordinary share, nominal value $0.01 per share, of the issuer; ADSs may be represented by American Depositary Receipts.