[Form 4] AVADEL PHARMACEUTICALS PLC Insider Trading Activity

Rhea-AI Filing Summary

Geoffrey M. Glass, a director of Avadel Pharmaceuticals plc (AVDL), reported a non-cash transfer on Form 4 dated 09/15/2025. He transferred 11,000 stock options with an exercise price of $10.83 and an original grant exercisable from 07/29/2035 to the Geoffrey M. Glass Revocable Trust dated August 26, 2020, of which he is trustee. The options vest in full on the earlier of July 29, 2026 or the next annual shareholders' meeting following grant, subject to continued service. The filing was signed by an attorney-in-fact on Glass’s behalf.

Positive

• Timely disclosure of the transfer under Section 16 via a filed Form 4
• Transfer to revocable trust maintains alignment with family/estate planning while preserving reporting transparency
• Vesting conditions retained, preserving alignment of remaining compensation with continued service

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Director transferred vested future compensation to a revocable family trust; routine governance disclosure with limited investor impact.

The transfer of 11,000 options to a revocable trust controlled by the reporting person is a common estate-planning or family-benefit transaction rather than a market sale. The filing clarifies beneficial ownership and preserves disclosure transparency by reporting the transaction under Section 16. Vesting remains subject to continued service, which retains alignment with shareholder interests. No sale or exercise occurred, so no immediate dilution or insider cash proceeds arise.

Securities Analyst

TL;DR: Insider moved options into a trust; transaction does not change option economics and is unlikely to be material to AVDL shareholders.

The Form 4 shows a transfer of option rights (11,000 options, $10.83 exercise) to a revocable trust where Glass is trustee and beneficiary family members exist. The options retain identical exercise price and expiration and vesting timeline unchanged. Because this is an intra-personal transfer with no exercise or sale, there is no immediate impact on share count, liquidity, or company cash flows. Disclosure is timely and meets Section 16 requirements.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Glass Geoffrey Michael

(Last) (First) (Middle)

C/O AVADEL PHARMACEUTICALS PLC

10 EARLSFORT TERRACE

(Street)

DUBLIN 2 L2 D02 T380

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AVADEL PHARMACEUTICALS PLC [ AVDL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$10.83	09/15/2025		G			11,000	(1)	07/29/2035	Ordinary Shares	11,000	$0	0	D
Stock Option (Right to Buy)	$10.83							(1)	07/29/2035	Ordinary Shares	11,000		11,000	I	By Trust(2)

Explanation of Responses:

1. The options shall vest in full on the earlier to occur of (a) July 29, 2026 or (b) the date of the next annual general meeting of shareholders following the date of grant, subject to the Reporting Person's continued service at such time.

2. On September 15, 2025, the Reporting Person transferred 11,000 options to the Geoffrey M. Glass Revocable Trust u/t/d August 26, 2020, of which the Reporting Person is trustee. The Reporting Person and members of his immediate family are the sole beneficiaries of the trust.

	/s/ Jerad G. Seurer, as attorney-in-fact	09/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Geoffrey M. Glass report on the AVDL Form 4 filed 09/15/2025?

The Form 4 reports a transfer of 11,000 stock options (exercise price $10.83) to the Geoffrey M. Glass Revocable Trust dated August 26, 2020.

Does the Form 4 show a sale or exercise of Avadel (AVDL) securities?

No. The filing documents a transfer of options to a trust; there was no exercise or sale reported and no cash received.

What are the key terms of the options transferred in the AVDL Form 4?

The options have an exercise price of $10.83, underlying 11,000 ordinary shares, and vest in full on the earlier of July 29, 2026 or the next annual shareholders' meeting following grant, subject to continued service.

Who benefits from the Geoffrey M. Glass Revocable Trust named in the filing?

The filing states the reporting person and members of his immediate family are the sole beneficiaries of the trust.

Did the Form 4 change Glass’s beneficial ownership of AVDL shares immediately?

No immediate change to exercised share ownership was reported; the transaction moved option rights to a trust but did not report exercised shares.