AVADEL PHARMACEUTICALS PLC 4

Peter J. Thornton tendered 115,060 Avadel ordinary shares at $21.00 per share and had 241,000 options cashed out and canceled in connection with Avadel’s acquisition by Alkermes.

On February 12, 2026, insider Peter J. Thornton disposed of all 115,060 Avadel Pharmaceuticals plc ordinary shares he beneficially owned for $21.00 per share in cash plus a contingent value right (CVR) valued at a potential additional $1.50 per share, in connection with the completion of Avadel’s acquisition by Alkermes plc via an Irish scheme of arrangement. At the same effective time, all of Thornton’s outstanding stock options covering an aggregate 241,000 ordinary shares at exercise prices ranging from $2.03 to $16.32 per share and expiration dates from 2029 to 2035 were canceled and converted into a cash payment equal to the intrinsic value of each option (the $21.00 cash consideration minus the applicable strike price, multiplied by the number of shares subject to the option), plus one CVR for each underlying share. These are transactional, deal-driven dispositions rather than discretionary open‑market trades, and they result in Thornton ceasing to hold Avadel equity post‑closing.

Filing Facts

CIK

1012477

Ticker

AVDL

Form

4

Source Type

sec

Accession

0001104659-26-014448

Alert Tier

6