AVADEL PHARMACEUTICALS PLC — Director's Dealing 2023

Jan 24, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVADEL PHARMACEUTICALS PLC (AVDL)
CIK: 0001012477
Period of Report: 2023-01-20

Reporting Person: Palczuk Linda (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-20	Stock Option (Right to Buy)	$2.03	G	60000	Disposed	2029-08-07	ADSs (60000)	Direct
2023-01-20	Stock Option (Right to Buy)	$8.48	G	42000	Disposed	2030-08-07	ADSs (42000)	Direct
2023-01-20	Stock Option (Right to Buy)	$8.07	G	42000	Disposed	2031-08-03	ADSs (42000)	Direct
2023-01-20	Stock Option (Right to Buy)	$4.79	G	42000	Disposed	2032-08-03	ADSs (42000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$2.03	2029-08-07	ADSs (60000)	60000	Indirect
Stock Option (Right to Buy)	$8.48	2030-08-07	ADSs (42000)	42000	Indirect
Stock Option (Right to Buy)	$8.07	2031-08-03	ADSs (42000)	42000	Indirect
Stock Option (Right to Buy)	$4.79	2032-08-03	ADSs (42000)	42000	Indirect

Footnotes

F1: These options are fully vested and exercisable as of the date hereof.

F2: 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.

F3: On January 20, 2023, the Reporting Person transferred an aggregate of 186,000 options to a revocable trust of which the Reporting Person is trustee.

F4: These options become exercisable as to 14,000 ADSs on each of the first three anniversaries after the 08/07/2020 grant date, subject to the Reporting Person's continued service at each such vesting date.

F5: These options shall vest in full on the earlier to occur of (a) August 3, 2023 or (b) the date of the next annual general meeting of shareholders following the date of grant, subject to the Reporting Person's continued service on the Board of Directors at such time.