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 eight new employees. The Compensation Committee of Avadel's Board of Directors granted non-statutory options to purchase 60,400 ordinary shares under the company's 2021 Inducement Plan.

The options come with a ten-year term and feature a four-year vesting schedule, with 25% vesting annually starting from each employee's first anniversary. These awards were granted in accordance with Nasdaq Listing Rule 5635(c)(4) as an inducement for employment acceptance.

DUBLIN, Aug. 07, 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 eight (8) new employees to purchase 60,400 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:
Alyssa Ramirez
Real Chemistry
aramirez@realchemistry.com

FAQ

What type of stock options did Avadel Pharmaceuticals (AVDL) grant to new employees?

Avadel granted non-statutory options to purchase 60,400 ordinary shares under their 2021 Inducement Plan to eight new employees.

What is the vesting schedule for Avadel's (AVDL) new employee stock options?

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

How long is the term of the stock options granted by Avadel (AVDL)?

The options have a ten-year term.

Under which rule were Avadel's (AVDL) inducement awards granted?

The awards were granted in accordance with Nasdaq Listing Rule 5635(c)(4) as an inducement material to employee acceptance of employment.