Form 4: Agenus Inc. Director Jennifer Buell Receives Stock in Lieu of Cash Salary

Director Jennifer Buell received 869 shares of Agenus Inc. common stock as part of her salary, in lieu of cash, as approved by the Agenus Inc. Compensation Committee.

Summary

• Jennifer Buell, a director of Agenus Inc., received 869 shares of common stock on April 18, 2025, as part of her salary.
• This was done at her request and with the approval of the Agenus Inc. Compensation Committee, in lieu of a cash payment.
• The shares were issued under the Amended and Restated Agenus Inc. 2019 Equity Incentive Plan and were fully vested on the date of issuance.
• The price of the stock was $2.08 per share, which was the closing price of Agenus Inc. common stock on April 17, 2025.
• Following the transaction, Ms. Buell directly owns 19,157 shares.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally neutral. The director's acceptance of stock in lieu of cash could be seen as a positive signal, indicating confidence in the company's future.

Positives

• The director's decision to receive stock in lieu of cash demonstrates confidence in the company's future.
• The shares are fully vested upon issuance, aligning the director's interests with those of the shareholders.

Management Comments

• The Agenus Inc. Compensation Committee approved the payment of a portion of Jennifer Buell's salary in stock, in lieu of cash, at her request.

Industry Context

It is not uncommon for company directors and executives to receive stock as part of their compensation packages, aligning their interests with those of the shareholders. This practice is particularly prevalent in growth-oriented companies.

Comparison to Industry Standards

• Stock-based compensation is a common practice among publicly traded companies, especially in the biotechnology sector.
• Companies like Amgen, Gilead Sciences, and Regeneron Pharmaceuticals often use stock options and restricted stock units as part of their executive compensation packages.
• The specific amount and terms of stock-based compensation vary depending on the company's size, performance, and industry standards.

Stakeholder Impact

• The transaction could have a slightly positive impact on shareholders, as it aligns the director's interests with those of the shareholders.
• Employees may view this as a positive sign, indicating the director's confidence in the company's future.

Key Dates

Keywords

Agenus Inc., Jennifer Buell, Director, Stock, Salary, Equity Incentive Plan, Beneficial Ownership, Form 4