Avadel Announces Grant of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
July 20 2023 - 4:05PM
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 20,000 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 plcAvadel
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:Gabriella GreigReal
Chemistryggreig@realchemistry.com(203)
249-2688
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