Garo H. Armen - Jun 15, 2021 Form 4 Insider Report for AGENUS INC (AGEN)

Role: Chairman and CEO, Director
Signature: /s/ Adam Krauss, as Attorney-in-Fact for Garo H. Armen
Stock symbol: AGEN
Transactions as of: Jun 15, 2021
Transactions value $: $14,788
Form type: 4
Date filed: 7/2/2021, 07:38 PM
Previous filing: Jun 7, 2021
Next filing: Jun 21, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AGEN	Common Stock	Award	$14.8K	+2.68K	+0.37%	$5.52	734K	Jul 2, 2021	Direct	F1, F2
holding	AGEN	Common Stock						126K	Jun 15, 2021	See footnote	F3
holding	AGEN	Common Stock						579K	Jun 15, 2021	See footnote	F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AGEN	Stock Option	Award	$0	+1.9M		$0.00	1.9M	Jun 15, 2021	Common Stock	1.9M	$3.18	Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As previously reported in the Current Report on Form 8-K filed with the Securities and Exchange Commission on January 14, 2021, Garo H. Armen's salary is being paid in stock, in lieu of cash, for the first half of 2021. The amount reported herein represents the net amount of Dr. Armen's salary for the pay period ending July 2, 2021. Such shares are issued in accordance with the Agenus Inc. 2019 Equity Incentive Plan and are fully vested on the date of issuance.
F2	$5.52 is the closing price of our Common Stock on July 2, 2021, the payroll date for the pay period ending July 2, 2021.
F3	Shares are held in Dr. Armen's IRA accounts.
F4	Dr. Armen is trustee and has investment authority for the Garo Armen 2020 2 Year AG GRAT holder of 479,000 shares of our Common Stock. Dr. Armen is a general partner in Pixie Partners, a General Partnership ("Pixie"), which as of the date of this report owns 100,000 shares of our Common Stock. Dr. Armen has a pecuniary interest in only a portion of the shares held by Pixie and disclaims beneficial ownership to the extent of his pecuniary interest therein.
F5	Option was granted on January 1, 2021, subject to shareholder approval of an increase to the available pool under the Company's 2019 Equity Incentive Plan ("2019 Plan"), which was obtained at the Company's annual shareholder meeting on June 15, 2021. Option awarded in accordance with the 2019 Plan. Option vests over a four-year period, with 1/3 of Option vesting on December 17, 2022, and the balance vesting in eight equal quarterly installments thereafter.