Avadel Pharmaceuticals (AVDL) insider equity cashed out in Alkermes deal
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Avadel Pharmaceuticals general counsel Jerad G. Seurer reported the automatic disposition of his equity in connection with Alkermes plc’s acquisition of Avadel under a scheme of arrangement.
On February 12, 2026, each outstanding ordinary share was converted into $21.00 in cash plus a non-transferable contingent value right for a potential additional $1.50 per share, subject to milestone achievement. His 23,496 ordinary shares, including previously restricted shares, were treated on the same terms.
On the same date, multiple stock option awards with exercise prices ranging from $4.69 to $13.57 per share were canceled. Each option was exchanged for cash equal to the in-the-money value based on the $21.00 cash consideration, plus one contingent value right for each underlying share.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Seurer Jerad G.
Role
Gen. Counsel & Corp. Secretary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (Right to Buy) | 25,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 30,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 80,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 47,500 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 100,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 125,000 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 84,000 | $0.00 | -- |
| Disposition | Ordinary Shares | 23,496 | $21.00 | $493K |
Holdings After Transaction:
Stock Option (Right to Buy) — 0 shares (Direct);
Ordinary Shares — 0 shares (Direct)
Footnotes (1)
- Reflects the disposition of ordinary shares of Avadel Pharmaceuticals plc ("Issuer"), nominal value $0.01 per share ("Ordinary Shares"), in connection with the consummation of the transactions contemplated by the Transaction Agreement, dated as of October 22, 2025, as amended by Amendment No. 1 to the Transaction Agreement dated November 18, 2025, (together the "Transaction Agreement") by and between Issuer and Alkermes plc ("Parent"), including the consummation of a scheme of arrangement under Chapter 1 of Part 9 of the Companies Act 2014 of Ireland (the "Scheme") pursuant to which Parent acquired Issuer. Pursuant to the Transaction Agreement, on February 12, 2026, the effective time of the Scheme (the "Effective Time"), each outstanding Ordinary Share was converted into $21.00 in cash (the "Cash Consideration") and a non-transferable contingent value right entitling the holders to a potential additional cash payment of $1.50 per share, contingent upon achievement of certain milestones (each a "CVR"). Includes Ordinary Shares previously subject to vesting restrictions or forfeiture back to Issuer (each, a "Restricted Stock Award"). Pursuant to the Transaction Agreement, at the Effective time, each Restricted Stock Award that was outstanding immediately prior to the Effective Time vested in full and was treated in the manner described in footnote 1. Reflects the disposition of Issuer's options to purchase Ordinary Shares (each, an "Option") as contemplated by the Transaction Agreement. Pursuant to the Transaction Agreement, at the Effective Time, each outstanding Option (whether or not vested) was canceled and exchanged for the right to receive (i) an amount in cash (less applicable tax and any other mandatory withholdings), equal to the product of (a) the total number of Ordinary Shares subject to such Option immediately prior to the Effective Time, multiplied by (b) the excess of the Cash Consideration over the applicable exercise price per Ordinary Share under such Option and (ii) one CVR for each Ordinary Share subject to such Option immediately prior to the Effective Time (without regard to vesting).
FAQ
What does the Jerad G. Seurer Form 4 for Avadel Pharmaceuticals (AVDL) report?
The Form 4 reports that Jerad G. Seurer’s Avadel equity was cashed out when Alkermes plc acquired the company. His ordinary shares and stock options were converted into $21.00 per share in cash plus contingent value rights, consistent with the transaction agreement terms.
What happened to Jerad G. Seurer’s Avadel (AVDL) stock options?
All listed Avadel stock options held by Jerad G. Seurer were canceled at the acquisition’s effective time. Each option was exchanged for cash equal to its in-the-money value based on the $21.00 cash consideration, plus one contingent value right per underlying share.
When did the Avadel (AVDL) and Alkermes transaction become effective?
The scheme of arrangement under which Alkermes plc acquired Avadel became effective on February 12, 2026. That effective time triggered the conversion of ordinary shares and the cancellation and cash-out of stock options, along with the issuance of contingent value rights.