Avadel Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
04 August 2023 - 6:05AM
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 26,000 ordinary shares under Avadel’s 2021
Inducement Plan. The awards were granted as an inducement material
to the employee’s 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 grant date and 25% on each anniversary
thereafter. 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
plc
Avadel 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. Avadel’s
commercial product, LUMRYZ, was approved by the U.S. Food &
Drug Administration (FDA) as the first and only once-at-bedtime
oxybate for the treatment of cataplexy or excessive daytime
sleepiness (EDS) 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:Lesley StanleyReal
Chemistrylestanley@realchemistry.com (609) 273-3162
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