AVADEL PHARMACEUTICALS PLC 4

CEO Gregory J. Divis Jr. converted 221,105 Avadel ordinary shares and cancelled options on 2,470,000 shares into cash at $21.00 per share plus contingent value rights in connection with Avadel’s acquisition by Alkermes.

On February 12, 2026, Avadel Pharmaceuticals plc CEO Gregory J. Divis Jr. disposed of all of his equity interests in Avadel in connection with the closing of its acquisition by Alkermes plc under a court-approved Irish scheme of arrangement. All 211,105 directly held ordinary shares and 10,000 shares held indirectly via the Gregory J. Divis Jr. Revocable Trust were converted into $21.00 in cash per share plus a non-transferable contingent value right for a potential additional $1.50 per share, implying gross share consideration of approximately $4.64 million excluding any CVR value. In addition, all outstanding stock options covering an aggregate 2,470,000 ordinary shares with exercise prices ranging from $1.71 to $13.57 were cancelled and exchanged for cash equal to the intrinsic value per option (the $21.00 cash consideration minus the applicable exercise price, multiplied by the number of shares underlying each option) plus one CVR per underlying share; the in-the-money portion of these grants represents a substantial cash payout, although the exact aggregate dollar amount is not stated in the filing. Some of the disposed ordinary shares had been subject to vesting or forfeiture restrictions that fully vested at closing, and post-transaction the reporting person no longer holds Avadel equity securities, as the issuer has been acquired and taken over by Alkermes.

Filing Facts

CIK

1012477

Ticker

AVDL

Form

4

Source Type

sec

Accession

0001104659-26-014441

Alert Tier

7