Garo H. Armen - 14 Nov 2024 Form 4 Insider Report for AGENUS INC (AGEN)

Role
Chairman and Chief Executive Officer, Director
Signature
/s/Christine M. Klaskin, as Attorney-in-Fact for Garo H. Armen
Issuer symbol
AGEN
Transactions as of
14 Nov 2024
Net transactions value
+$16,312
Form type
4
Filing time
18 Nov 2024, 16:05:08 UTC
Previous filing
04 Nov 2024
Next filing
03 Dec 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AGEN Common Stock Award $16,312 +5,997 +5.9% $2.72 108,324 15 Nov 2024 Direct F1, F2
holding AGEN Common Stock 31,298 14 Nov 2024 See Footnote F3
holding AGEN Common Stock 28,950 14 Nov 2024 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 +600,000 $0.000000 600,000 14 Nov 2024 Common Stock 600,000 $2.77 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 At his request and with the approval of the Agenus Inc. Compensation Committee, Garo H. Armen's salary is being paid in stock, in lieu of cash. The amount reported herein represents the net amount of Dr. Armen's salary for the pay period ending November 15, 2024. Such shares are issued in accordance with the Amended and Restated Agenus Inc. 2019 Equity Incentive are fully vested on the date of issuance.
F2 $2.72 is the closing price of our Common Stock on November 15, 2024, the payroll date for the pay period ending November 15, 2024.
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 23,950 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 5,000 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 Represents a one-time retention award comprised of options to purchase common stock, which were granted to certain key employees, including our executive officers. These options were awarded in accordance with the Agenus Inc. 2019 Amended and Restated Equity Incentive Plan and will vest on November 15, 2025.

Remarks:

Chairman and Chief Executive Officer