Avadel Pharmaceuticals announces grant of inducement awards

Avadel Pharmaceuticals announced that the Compensation Committee of Avadel’s Board of Directors approved the grant of non-statutory options to two new employees to purchase an aggregate of 38,000 ordinary shares under Avadel’s 2021 Inducement Plan. The awards were granted as an inducement material to the employees’ 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