ARMEN GARO H 4

What Happened

• Garo H. Armen, Chairman, Chief Executive Officer and Principal Financial Officer of Agenus Inc. (AGEN), was issued 3,983 shares of common stock as salary paid in stock (transaction code A) on March 20, 2026. The shares were valued at $3.71 each, for a total value of $14,777.
• These 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: 2026-03-20; Filing date: 2026-03-24 (filed on time).
• Price used: $3.71 per share (closing price on 3/20/2026); total value ~$14,777.
• Shares issued as salary (paid in stock) and delivered net to Dr. Armen’s IRA accounts.
• Not an open-market purchase or sale—this is compensation converted to equity (award/grant).
• Disclosed related holdings: Dr. Armen is trustee and has investment authority for 23,950 shares held by the Garo Armen 2020 2 Year AG GRAT; Pixie Partners (a partnership where he is a general partner) owns 5,000 shares, though he disclaims beneficial ownership to the extent of his pecuniary interest.

Context

• This issuance reflects salary paid in company stock rather than a market transaction; it is compensation and does not necessarily signal a personal buy or sell decision.
• The shares are fully vested on issuance, so there are no vesting contingencies for these shares.