Form 4: Agenus Inc. CEO Garo Armen Receives Stock in Lieu of Cash Salary

A Form 4 filing reveals Agenus Inc. CEO Garo H. Armen received 5,260 shares of common stock in lieu of cash salary for the pay period ending May 2, 2025, at a price of $3.11 per share.

Summary

• A Form 4 filing indicates that Garo H. Armen, CEO of Agenus Inc., received 5,260 shares of Agenus common stock on May 2, 2025.
• These shares were issued in lieu of cash salary for the pay period ending on the same date, with each share valued at $3.11, the closing price of Agenus common stock on that day.
• The shares are fully vested upon issuance, in accordance with the company's 2019 Equity Incentive Plan.
• Following the transaction, Armen directly owns 181,060 shares and indirectly owns 31,298 shares through an IRA and 28,950 shares through a trust and partnership.
• Armen disclaims beneficial ownership of a portion of the shares held by Pixie Partners.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard executive compensation disclosure. The CEO taking stock instead of cash could be seen as a positive signal, but it's not definitively bullish.

Positives

• The CEO's acceptance of stock in lieu of cash salary could be interpreted as a sign of confidence in the company's future performance.
• The shares are fully vested upon issuance, aligning the CEO's interests with those of the shareholders.

Industry Context

This type of compensation, where executives receive stock in lieu of cash, is not uncommon in the biotech industry, especially for companies focused on long-term growth.

Stakeholder Impact

• Shareholders may view the CEO's acceptance of stock in lieu of cash as a positive sign of alignment with their interests.

Key Dates

Keywords

Agenus Inc., Garo H. Armen, Form 4, Stock, Equity Incentive Plan, Beneficial Ownership, Salary