AVADEL PHARMACEUTICALS PLC — Director's Dealing 2016

Mar 22, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FLAMEL TECHNOLOGIES SA (FLML)
CIK: 0001012477
Period of Report: 2016-03-22

Reporting Person: THOMPSON PHILLANDAS T. (See Remarks)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-03-22	ADSs	P	10000	$11.103	Acquired	20000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$7.36	2023-12-12	ADSs (100000)	100000	Direct
Stock Option (right to buy)	$16.3	2024-12-11	ADSs (95000)	95000	Direct
Stock Option (right to buy)	$14.35	2025-12-10	ADSs (100000)	100000	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.

F2: 10,000 are Restricted ADSs granted under the issuer's "Free Shares" award program on 12/11/2014. All of such 10,000 restricted ADSs 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 25,000 ADSs on each of the first four anniversaries after the 12/12/2013 grant date.

F4: Options become exercisable as to 23,750 ADSs on each of the first four anniversaries after the 12/11/2014 grant date.

F5: Options become exercisable as to 25,000 ADSs on each of the first four anniversaries after the 12/10/2015 grant date.