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

Garo H. Armen, Chairman and CEO of Agenus Inc., received 10,288 shares of common stock as part of his salary in lieu of cash, according to a Form 4 filing.

Summary

• Garo H. Armen, Chairman and CEO of Agenus Inc., received 10,288 shares of Agenus Inc. common stock on April 4, 2025, as part of his salary in lieu of cash.
• The shares were issued at a price of $1.56, which was the closing price of Agenus Inc. common stock on that date.
• These shares are fully vested upon issuance, in accordance with the Amended and Restated Agenus Inc. 2019 Equity Incentive Plan.
• Following this transaction, Armen directly owns 167,914 shares and indirectly owns 31,298 shares through his IRA accounts and 28,950 shares as trustee and general partner.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine disclosure of executive compensation. The acceptance of stock in lieu of cash could be seen as a positive sign of confidence, but it's not a major event.

Positives

• The acceptance of stock in lieu of cash salary by the CEO demonstrates confidence in the company's future prospects.
• The shares are fully vested upon issuance, aligning the executive's interests with those of the shareholders.

Industry Context

Executive compensation in the biotech industry often includes stock options and grants to align management's interests with shareholder value. This filing reflects that practice.

Stakeholder Impact

• Shareholders may view the acceptance of stock in lieu of cash as a positive sign of management's confidence in the company.

Key Dates

Keywords

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