Form 4: Agenus Inc. Director Jennifer Buell Acquires Shares as Part of Salary Compensation

Director Jennifer Buell acquired 1,123 shares of Agenus Inc. common stock at $1.61 per share as part of her salary compensation plan.

Summary

• On March 21, 2025, Jennifer Buell, a director of Agenus Inc., acquired 1,123 shares of common stock.
• The shares were acquired as part of her salary compensation, in lieu of cash, with the approval of the Agenus Inc. Compensation Committee.
• The price per share was $1.61, which was the closing price of Agenus Inc. common stock on March 21, 2025.
• Following the transaction, Ms. Buell beneficially owns 17,129 shares.
• The shares were issued in accordance with the Amended and Restated Agenus Inc. 2019 Equity Incentive Plan and are fully vested on the date of issuance.

Sentiment

Score: 7

Explanation: Neutral to slightly positive sentiment as it reflects alignment of director's interests with shareholders through stock compensation.

Positives

• The use of stock as part of director compensation aligns the director's interests with those of the shareholders.
• The shares are fully vested upon issuance, which incentivizes the director to contribute to the long-term success of the company.

Management Comments

• At her request and with the approval of the Agenus Inc. Compensation Committee, a portion of Jennifer Buell's salary is being paid in stock, in lieu of cash.

Industry Context

Using stock as part of executive compensation is a common practice in the biotech industry to align management's interests with those of shareholders and conserve cash.

Comparison to Industry Standards

• Many biotech companies, such as Amgen and Gilead Sciences, use stock options and restricted stock units as part of their executive compensation packages.
• The specific amount and vesting schedule of these awards vary depending on the company's size, performance, and industry benchmarks.
• Agenus's approach of paying a portion of salary in stock is less common than stock options or restricted stock units, but it achieves a similar goal of aligning interests.

Stakeholder Impact

• Shareholders may view the stock-based compensation positively as it aligns the director's interests with the company's performance.
• Employees may see this as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

Agenus Inc., Jennifer Buell, Director, Stock Acquisition, Salary Compensation, Beneficial Ownership, Equity Incentive Plan