Eric J. Ende
About Eric J. Ende
Eric J. Ende, M.D., MBA, age 56, has served as an independent director of Avadel Pharmaceuticals plc since December 2018. He is President of Ende BioMedical Consulting Group (since 2009) and previously was a senior biotechnology research analyst at Merrill Lynch, Bank of America Securities, and Lehman Brothers. Dr. Ende holds an M.D. (Mount Sinai School of Medicine), an MBA in Finance and Accounting (NYU Stern), and a B.S. in Biology and Psychology (Emory). He is currently Chair of Avadel’s Nominating & Corporate Governance Committee and a member of the Audit Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Merrill Lynch | Senior Biotechnology Analyst | 2002–2008 | Research coverage of biotech sector |
| Bank of America Securities | Senior Biotechnology Analyst | 2000–2002 | Research coverage of biotech sector |
| Lehman Brothers | Biotechnology Analyst | 1997–2000 | Research coverage of biotech sector |
| Genzyme Corp. | Director; Audit & Risk Management Committees | 2010–2011 | Served until acquisition by Sanofi S.A. in 2011 |
| Egenix, Inc. | Chairman, Unsecured Creditors’ Committee | 2015–2016 | Bankruptcy oversight |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Mount Sinai Innovation Partners Technology | Director | Since June 2015 | Healthcare R&D organization governance |
| Matinas BioPharma, Inc. | Director; Chairman of the Board | May 2017–Mar 2025 | Served on Audit, Compensation, and Nominating & Corporate Governance Committees |
| Neubase Therapeutics | Director | Jan 2022–May 2023 | Board service in genetic medicines |
| Progenics Pharmaceuticals, Inc. | Director | Nov 2019–Jun 2020 | Audit, Compensation, and Science Committees; company acquired by Lantheus |
Board Governance
- Independence: The Board affirmatively determined Dr. Ende is independent under Nasdaq, SEC, and Avadel standards (all nominees except the CEO) .
- Committee assignments: Audit Committee member; Nominating & Corporate Governance Committee Chair .
- Attendance: In 2024 the Board met 10 times; each incumbent director attended at least 75% of Board and applicable committee meetings; all directors attended the 2024 annual meeting .
- Director ownership guidelines: Non‑employee directors must hold equity ≥3× the annual cash retainer ($52,100), with a five‑year phase‑in; as of the proxy date, all directors subject to the policy have met requirements or are within the phase‑in window .
Fixed Compensation
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual Board retainer | $52,100 | Non‑employee director cash retainer |
| Audit Committee member retainer | $10,000 | Non‑chair member |
| Nominating & Corporate Governance Committee Chair retainer | $10,000 | Chair fee |
| Total cash fees (2024) | $72,100 | Fees earned/paid in cash for Dr. Ende |
No meeting fees disclosed; non‑executive directors are reimbursed for expenses and receive no termination benefits .
Performance Compensation
| Grant Date | Instrument | Shares | Vesting | Grant Date Fair Value (USD) |
|---|---|---|---|---|
| Jul 30, 2024 | Stock Option | 11,000 | 100% on one‑year anniversary | $145,357 (total 2024 option awards for Dr. Ende) |
| Jul 30, 2024 | Restricted Stock Award | 11,000 | 100% on one‑year anniversary or next AGM, whichever earlier | $179,520 (total 2024 stock awards for Dr. Ende) |
- Annual equity policy: On each annual meeting date, continuing non‑employee directors receive an option (11,000 shares) and a restricted stock award (11,000 shares); initial election awards are options for 49,500 shares vesting over three years .
- Structure: Director equity awards are time‑based; no performance metrics (e.g., revenue/TSR hurdles) apply to director grants .
Other Directorships & Interlocks
- Compensation committee interlocks: None in 2024; no Avadel executive served on another company’s compensation committee where an Avadel director sat, and Avadel’s Compensation Committee members were not Avadel employees .
- Related‑party transactions: None involving directors/executives >$120,000 since Jan 1, 2024 beyond standard compensation described; Audit Committee reviews any related‑person transactions .
Expertise & Qualifications
- Medical training and clinical perspective (M.D.) plus deep finance/accounting (MBA) and equity research experience, supporting Audit and Governance oversight .
- Prior chair and committee leadership across audit, compensation, and governance at multiple biopharma boards, indicating robust governance skillset .
- Independent status and multi‑company board exposure provide network benefits and oversight experience .
Equity Ownership
| Category | Shares/Units |
|---|---|
| Ordinary shares held | 197,900 |
| Options exercisable within 60 days | 238,057 |
| Restricted share award vesting within 60 days | 11,000 |
| Total beneficial ownership | 446,957; less than 1% of outstanding shares |
- Anti‑hedging/pledging: Company policy prohibits hedging and pledging of Avadel securities by directors .
- Ownership guideline baseline and measurement price: Retainer $52,100; guideline equity valuation examples use $8.89 closing price on May 15, 2025 (record date) .
Governance Assessment
- Committee leadership and independence: As Nominating & Corporate Governance Chair and Audit member, Ende contributes to board refreshment, governance standards, and financial oversight—positive for board effectiveness .
- Attendance and engagement: Meets minimum 75% attendance and participated in the annual meeting, indicating baseline engagement; further detail by director not provided beyond aggregate disclosure .
- Alignment: Significant personal equity exposure including vested/unvested components; director ownership guidelines in place and reported met or within phase‑in—supports alignment .
- Conflicts and RPTs: No related‑party transactions reported; compensation committee interlocks absent—no evident conflicts from disclosure .
- Shareholder sentiment: 2024 Say‑on‑Pay garnered ~90% support; next Say‑on‑Pay scheduled for 2026 given biennial frequency—indicates acceptable pay practices and investor confidence in compensation governance .
- RED FLAGS: None disclosed for Ende specifically (no legal proceedings, pledging/hedging, related‑party transactions, option repricing). Monitor ongoing external commitments for potential future conflicts, though none are currently indicated by the company’s disclosures .