Form 4: Agenus Director Garo Armen Boosts Stake by Opting for Stock-Based Salary

Agenus Inc. Director and Officer Garo H. Armen has increased his direct beneficial ownership by acquiring 4,769 shares of common stock at $3.43 per share, choosing to receive his salary in stock instead of cash.

Summary

• Garo H. Armen, a Director and Officer of Agenus Inc. (AGEN), acquired 4,769 shares of common stock on May 30, 2025.
• The shares were acquired at a price of $3.43 per share, which was the closing price of Agenus Common Stock on May 30, 2025.
• This acquisition represents the net amount of Dr. Armen's salary for the pay period ending May 30, 2025, paid in stock in lieu of cash at his request and with the approval of the Agenus Inc. Compensation Committee.
• The acquired shares are fully vested on the date of issuance, in accordance with the Amended and Restated Agenus Inc. 2019 Equity Incentive Plan.
• Following this transaction, Dr. Armen directly beneficially owns 190,529 shares of Common Stock.
• Additionally, Dr. Armen indirectly beneficially owns 31,298 shares held in his IRA accounts and 28,950 shares through the Garo Armen 2020 2 Year AG GRAT (23,950 shares) and Pixie Partners, a General Partnership (5,000 shares), where he disclaims beneficial ownership to the extent of his pecuniary interest in Pixie Partners.

Sentiment

Score: 7

Explanation: The sentiment is positive as an insider choosing to receive salary in stock demonstrates confidence in the company's future performance and aligns their interests with shareholders. This is generally viewed favorably by the market.

Positives

• The decision by a director and officer to receive salary in stock instead of cash signals strong confidence in the company's future prospects and aligns management's interests with those of shareholders.
• The acquisition increases Dr. Armen's direct beneficial ownership, demonstrating a commitment to the company's equity.

Future Outlook

NA

Management Comments

• Garo H. Armen's salary is being paid in stock, in lieu of cash, at his request and with the approval of the Agenus Inc. Compensation Committee.
• The shares issued are in accordance with the Amended and Restated Agenus Inc. 2019 Equity Incentive Plan and are fully vested on the date of issuance.

Industry Context

This Form 4 filing reports an insider transaction, which is a routine disclosure for publicly traded companies. It does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders: The transaction signals confidence from a key insider, which may be viewed positively and potentially influence investor sentiment.
• Reporting Person (Garo H. Armen): His compensation structure is now more directly tied to the company's stock performance, increasing his personal stake and alignment with equity holders.

Key Dates

Keywords

Agenus, AGEN, Form 4, Insider Transaction, Stock Acquisition, Garo Armen, Beneficial Ownership, Equity Compensation, Director Stock Purchase, Compensation Committee