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 grants include non-statutory options to purchase 48,400 ordinary shares under the company's 2021 Inducement Plan.

The stock options, awarded in compliance with Nasdaq Listing Rule 5635(c)(4), feature a ten-year term and a four-year vesting schedule. The vesting structure includes 25% vesting on the first anniversary of each employee's start date, followed by additional 25% portions vesting on the second, third, and fourth anniversaries. These awards were granted as inducement material for employment acceptance and are governed by Avadel's 2021 Inducement Plan terms and specific award agreements.

DUBLIN, April 10, 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 48,400 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:
Lesley Stanley
Real Chemistry
lestanley@realchemistry.com
(609) 273-3162

FAQ

How many shares are included in Avadel's (AVDL) latest inducement awards?

Avadel's inducement awards include options to purchase 48,400 ordinary shares granted to nine new employees.

What is the vesting schedule for AVDL's April 2025 inducement stock options?

The options vest over 4 years, with 25% vesting on the first anniversary and additional 25% on the second, third, and fourth anniversaries.

What is the term length of Avadel's (AVDL) new inducement stock options?

The stock options have a ten-year term.

Under which plan were AVDL's new inducement awards granted?

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