ARMEN GARO H 4

What Happened
Garo H. Armen — Chairman, Chief Executive Officer and Principal Financial Officer of Agenus Inc. (AGEN) — received 4,994 shares of common stock as compensation (an award/acquisition) on March 6, 2026. The shares were valued at $2.96 each (closing price on March 6), for a total reported value of $14,782. The grant represents salary paid in stock in lieu of cash and the shares were issued fully vested on the date of issuance.

Key Details

• Transaction date: March 6, 2026; Form 4 filed March 9, 2026 (timely filing).
• Instrument: Award/stock issuance as salary in lieu of cash (code A).
• Shares: 4,994 shares acquired at $2.96 per share; total ≈ $14,782. Reported amount represents the net shares for the pay period ending March 6, 2026.
• Vesting: Shares issued fully vested under the Amended and Restated Agenus Inc. 2019 Equity Incentive Plan.
• Holdings: Shares are held in Dr. Armen’s IRA accounts. Filing does not list total shares owned after this transaction.
• Other notes: Dr. Armen serves as trustee and has investment authority for a GRAT holding 23,950 shares and is a general partner in Pixie Partners, which owns 5,000 shares; he disclaims beneficial ownership to the extent of his pecuniary interest.

Context
This was a compensation-related issuance (salary paid in stock), not an open-market purchase or sale. Such awards often reflect payroll elections or company compensation policy rather than a direct market signal; they are reported for transparency under Section 16.