AVADEL PHARMACEUTICALS PLC — Director's Dealing 2018

Mar 23, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVADEL PHARMACEUTICALS PLC (AVDL)
CIK: 0001012477
Period of Report: 2018-03-22

Reporting Person: DIVIS GREG J (See Remarks)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-03-22	Stock Option (right to buy)	$7.06	A	50000	Acquired	2028-03-22	ADSs (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
ADSs	33100	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$10.40	2026-12-14	ADSs (150000)	150000	Direct
Stock Option (right to buy)	$8.95	2027-12-12	ADSs (100000)	100000	Direct

Footnotes

F1: 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.

F2: Includes 22,500 restricted shares granted under the issuer's Omnibus Incentive Compensation Plan on 12/12/2017, under which 15,000 ADSs will vest and be issued on the second anniversary of the grant date and the remaining 7,500 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).

F3: Options become exercisable as to 37,500 ADSs on each of the first four anniversaries after the 12/14/2016 grant date.

F4: Options become exercisable as to 25,000 ADSs on each of the first four anniversaries after the 12/12/2017 grant date.

F5: Options become exercisable as to 12,500 ADSs on each of the first four anniversaries after the 3/22/2018 grant date.