Avadel Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
20 December 2022 - 8:05AM
Avadel Pharmaceuticals plc (Nasdaq: AVDL), a company focused on
transforming medicines to transform lives, today announced that the
Compensation Committee of Avadel’s Board of Directors approved the
grant of non-statutory options to three (3) new employees to
purchase an aggregate of 42,500 ordinary shares under Avadel’s 2021
Inducement Plan. The awards were granted as an inducement material
to the employees’ acceptance of employment with Avadel in
accordance with Nasdaq Listing Rule 5635(c)(4). The options have a
ten-year term and vest over four years, with 25% vesting on the
one-year anniversary of the employee’s first day of employment with
Avadel and the remainder vesting in equal monthly installments for
three years thereafter, subject to the employee’s continued service
with Avadel on each such vesting date. The options are subject to
the terms and conditions of Avadel’s 2021 Inducement Plan approved
by the Board of Directors in November 2021 and the terms and
conditions of award agreements covering the grants.
About Avadel Pharmaceuticals plcAvadel
Pharmaceuticals plc (Nasdaq: AVDL) is a biopharmaceutical
company focused on transforming medicines to transform lives. Our
approach includes applying innovative solutions to the development
of medications that address the challenges patients face with
current treatment options. Our current lead drug candidate,
LUMRYZ™, is an investigational formulation of sodium oxybate
leveraging our proprietary drug delivery technology and designed to
be taken once at bedtime for the treatment of cataplexy or
excessive daytime sleepiness in adults with narcolepsy. For more
information, please visit www.avadel.com.
Investor Contact:Courtney TurianoStern Investor
Relations, Inc.Courtney.Turiano@sternir.com(212)
698-8687
Media Contact:Gabriella GreigReal
Chemistryggreig@realchemistry.com(203)
249-2688
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