AVADEL PHARMACEUTICALS PLC — Director's Dealing 2016

Jan 5, 2016

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: FLAMEL TECHNOLOGIES SA (FLML)
CIK: 0001012477
Period of Report: 2016-01-01

Reporting Person: MACKE SCOTT A. (VP, Supply Chain & Operations)

Holdings (Non-Derivative)

Security	Shares	Ownership
ADSs	27000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$4.07	2023-02-01	ADSs (7500)		Direct
Stock Option (right to buy)	$7.36	2023-12-12	ADSs (20000)		Direct
Stock Option (right to buy)	$16.30	2024-12-11	ADSs (50000)		Direct
Stock Option (right to buy)	$14.35	2025-12-10	ADSs (35000)		Direct

Footnotes

F1: 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.

F2: Restricted ADSs granted under the issuer's "Free Shares" award program on 12/10/2012 as to 7,000 ADSs, on 12/12/2013 as to 10,000 ADSs, and on 12/11/2014 as to 10,000 ADSs. All of the ADSs as to each grant will vest and be issued to the reporting person on the fourth anniversary of the grant date, provided that the reporting person continues to be employed by the issuer or an affiliate thereof on that date.

F3: Options become exercisable as to 1,875 ADSs on each of the first four anniversaries after the 02/01//2013 grant date.

F4: Options become exercisable as to 5,000 ADSs on each of the first four anniversaries after the 12/12/2013 grant date.

F5: Options become exercisable as to 12,500 ADSs on each of the first four anniversaries after the 12/11/2014 grant date.

F6: Options become exercisable as to 8,750 ADSs on each of the first four anniversaries after the 12/10/2015 grant date.