AVADEL PHARMACEUTICALS PLC — Director's Dealing 2016

Aug 12, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLAMEL TECHNOLOGIES SA (FLML)
CIK: 0001012477
Period of Report: 2016-08-10

Reporting Person: DAVIS GREGORY J. (See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-10	ADSs	A	20000	—	Acquired	20000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$21.67	2025-06-26	ADSs (50000)	100000	Direct
Stock Option (right to buy)	$14.35	2025-12-10	ADSs (50000)	50000	Direct

Footnotes

F1: The issuer's "ADSs" are American Depositary Shares, with each ADS representing one ordinary share, nominal value 0.122 Euros per share, of the issuer; ADSs are represented by American Depositary Receipts. The securities acquired as reported in this statement represent the grant of ADSs under the issuer's "Free Share" award program; no purchase price was applicable to such grant. See footnote (2) for details as to the dates such ADSs will be issued to the reporting person.

F2: Represents 20,000 restricted ADSs granted under the issuer's "Free Share" award program on 8/10/2016, all of which will be issued to the reporting person on the second anniversary of the grant date.

F3: Options become exercisable as to 12,500 ADSs on each of the first four anniversaries after the 06/26/2015 grant date.

F4: Options become exercisable as to 12,500 ADSs on each of the first four anniversaries after the 12/10/2015 grant date.