Avadel announces grant of inducement awards under nasdaq listing rule 5635(c)(4)

Dublin, ireland, dec. 01, 2022 (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 one (1) new employee to purchase an aggregate of 30,000 ordinary shares under avadel's 2021 inducement plan. the award was 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 employee's first day of employment with avadel and the remainder vesting in equal monthly installments for three years thereafter, subject to the employee's continued service with avadel on each such vesting date. 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.
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