ARMEN GARO H 4

What Happened
Garo H. Armen, Chairman and Chief Executive Officer of Agenus Inc. (AGEN), received 4,562 shares of company common stock on January 23, 2026. The shares were issued as payment of salary (in lieu of cash) at a closing price of $3.24 per share, for a net value of $14,781. The shares were issued under the Amended and Restated Agenus Inc. 2019 Equity Incentive plan and were fully vested on the date of issuance.

Key Details

• Transaction date: January 23, 2026; filing date: January 26, 2026 (filed within the required reporting window).
• Price used: $3.24 per share (closing price on Jan 23, 2026).
• Shares acquired: 4,562; total reported value: $14,781.
• Shares held after transaction: not specified in this Form 4. Report notes these shares are held in Dr. Armen’s IRA accounts.
• Relevant footnotes: salary paid in stock by Dr. Armen’s request with Compensation Committee approval; shares fully vested on issuance; Dr. Armen is trustee/has investment authority for 23,950 shares held by the Garo Armen 2020 2 Year AG GRAT and is a general partner in Pixie Partners, which owns 5,000 shares (he disclaims beneficial ownership to the extent of his pecuniary interest in Pixie).

Context
This was a compensation-related issuance (salary paid in stock), not an open-market purchase or sale. Such awards reflect compensation choices and vesting conditions rather than a direct market sentiment signal; the dollar value here is relatively small (~$14.8k).