AVADEL PHARMACEUTICALS PLC — Director's Dealing 2019

Feb 5, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVADEL PHARMACEUTICALS PLC (AVDL)
CIK: 0001012477
Period of Report: 2019-01-31

Reporting Person: KOTLER KEVIN (Director)
Reporting Person: Broadfin Capital, LLC (Director)
Reporting Person: Broadfin Healthcare Master Fund Ltd (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-01-31	ADSs	A	27900	—	Acquired	3130573	Indirect

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: The securities are held in the account of Broadfin Healthcare Master Fund, Ltd., a private investment fund managed by Broadfin Capital, LLC, and may be deemed to be beneficially owned by Kevin Kotler, managing member of Broadfin Capital, LLC. The reporting person disclaims beneficial ownership of the securities reported in Tables I and II, except to the extent of his pecuniary interest therein, and affirmatively disclaim being a "group" for purposes of Section 16 of the Securities Exchange Act of 1934, as amended. Solely for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each of Broadfin Healthcare Master Fund, Ltd. and Broadfin Capital, LLC may be deemed to be a director-by-deputization by virtue of Kevin Kotler serving on the board of directors of the issuer.

F3: Includes 27,900 restricted ADSs granted under the issuer's Omnibus Incentive Compensation Plan on 01/31/2019 to Kevin Kotler in his capacity as a director of the issuer; one-third (1/3) of the ADSs will vest on each of the first three anniversaries of the grant date. All interest in the ADSs is assigned from Kevin Kotler to Broadfin Healthcare Master Fund, Ltd.