Avadel Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Avadel Pharmaceuticals (NASDAQ: AVDL) has announced the approval of inducement awards for nine new employees by its Board's Compensation Committee. The awards consist of non-statutory options to purchase 51,700 ordinary shares under the company's 2021 Inducement Plan. These options come with a ten-year term and follow a four-year vesting schedule: 25% vests after one year of employment, with the remaining portions vesting equally on the second, third, and fourth anniversaries. The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as inducement material for employment acceptance.

DUBLIN, May 08, 2025 (GLOBE NEWSWIRE) -- 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 nine (9) new employees to purchase 51,700 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 each new employee’s respective start date and 25% vesting on the second, third, and fourth 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 patients 7 years and older with narcolepsy. For more information, please visit www.avadel.com. 

Investor Contact:
Austin Murtagh
Precision AQ
Austin.Murtagh@precisionAQ.com   
(212) 698-8696

Media Contact:
Lesley Stanley
Real Chemistry
lestanley@realchemistry.com 
(609) 273-3162

FAQ

What is the vesting schedule for AVDL's new employee stock options granted in May 2025?

The options vest over 4 years, with 25% vesting on the first anniversary of each employee's start date and 25% vesting on the second, third, and fourth anniversaries.

How many ordinary shares were granted in Avadel's May 2025 inducement awards?

Avadel granted options to purchase 51,700 ordinary shares to nine new employees.

What is the term length of the AVDL stock options granted in May 2025?

The options have a ten-year term.

Under which plan were Avadel's May 2025 inducement awards granted?

The awards were granted under Avadel's 2021 Inducement Plan, approved by the Board of Directors in November 2021.