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Filing Details

Accession Number:: 0001567619-18-008237
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2018-12-18 16:01:55
Reporting Period:: 2018-12-14

Accepted Time:: 2018-12-18 16:01:55
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1012477	Avadel Pharmaceuticals Plc	AVDL	Pharmaceutical Preparations (2834)	000000000

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1600771	L Sandra Hatten	Block 10-1, Blanchardstown Corporate Park, Ballycoolin Dublin L2 15	See Remarks	No	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Adss	Disposition	2018-12-14	3,173	$2.58	40,837	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Adss	3,400	Indirect	By Spouse

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Adss	Stock Option (right to buy)	$21.67	2025-06-26	100,000	100,000	Direct
Adss	Stock Option (right to buy)	$14.35	2025-12-10	50,000	50,000	Direct
Adss	Stock Option (right to buy)	$10.40	2026-12-14	80,000	80,000	Direct
Adss	Stock Option (right to buy)	$8.95	2027-12-12	60,000	60,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2025-06-26	100,000	100,000	Direct
2025-12-10	50,000	50,000	Direct
2026-12-14	80,000	80,000	Direct
2027-12-12	60,000	60,000	Direct

Footnotes

The issuer's "ADSs" are American Depositary Shares, with each ADS representing one ordinary share, nominal value $0.01 per share, of the issuer; ADSs may be represented by American Depositary Receipts.
On December 14, 2018, the reporting person sold 3,173 ADSs in connection with the payment of certain withholding taxes related to the vesting of restricted ADSs that were granted to the reporting person on December 14, 2016 (such grant was reported by the reporting person on a Form 4 filed on December 16, 2016).
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $2.4857 to $2.68, inclusive. The reporting person undertakes to provide to Avadel Pharmaceuticals plc, any security holder of Avadel Pharmaceuticals plc, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (3).
Includes (a) 20,000 ADSs granted under the issuer's "Free Share" award program as restricted ADSs on 8/10/2016, all of which were issued to the reporting person on the second anniversary of the grant date; in connection with the payment of certain withholding taxes related to such issuance, the reporting person sold 6,290 ADSs on August 10, 2018; (b) 10,000 ADSs granted under the issuer's "Free Share" award program as restricted ADSs on 12/14/2016, all of which were issued to the reporting person on the second anniversary of the grant date; in connection with the payment of certain withholding taxes related to such issuance, the reporting person sold 3,173 ADSs on December 14, 2018; and [continued in footnote 5 below]
(c) 12,500 restricted shares granted under the issuer's Omnibus Incentive Compensation Plan on 12/12/2017, under which 8,333 ADSs will vest and be issued on the second anniversary of the grant date and the remaining 4,167 ADSs will vest and be issued on the third anniversary of the grant date (with vesting of these restricted shares subject to the reporting person remaining in continuous service until the applicable anniversary of the date of grant).
The filing of this statement shall not be construed as an admission that the reporting person is, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the beneficial owner of these securities. The reporting person disclaims beneficial ownership of such securities except to the extent of any pecuniary interest therein.
Options become exercisable as to 25,000 ADSs on each of the first four anniversaries after the 06/26/2015 grant date.
Options become exercisable as to 12,500 ADSs on each of the first four anniversaries after the 12/10/2015 grant date.
Options become exercisable as to 20,000 ADSs on each of the first four anniversaries after the 12/14/2016 grant date.
Options become exercisable as to 15,000 ADSs on each of the first four anniversaries after the 12/12/2017 grant date.