ARMEN GARO H 4

What Happened
Armen Garo H, who serves as Chairman, Chief Executive Officer and Principal Financial Officer of Agenus Inc. (AGEN), was granted derivative equity awards on April 24, 2026. The filing shows three grants totaling 1,165,300 shares (1,000,000 + 27,750 + 137,550) with a reported price of $0.00 (derivative awards/options as described in the footnotes). These were awards (code A), not open-market purchases or sales.

Key Details

• Transaction date: April 24, 2026; Form 4 filed April 28, 2026. Reported grant price: $0.00 per share (derivative awards).
• Total shares covered by grants: 1,165,300 (1,000,000; 27,750; 137,550).
• Footnote F1: Option(s) awarded under the Agenus 2019 Amended & Restated Equity Incentive Plan; vest over three years with one‑third vesting on April 24, 2027 and the balance vesting in equal quarterly installments thereafter.
• Footnote F2: Option(s) awarded in lieu of the 2025 annual cash bonus under the same equity plan; vests in full on May 24, 2026.
• Shares owned after the transaction: not specified in the provided excerpt.
• Filing timeliness: Form filed four days after the transaction (filed Apr 28 for Apr 24 transactions); the filing does not flag a late-report code in the provided data.

Context

• These entries are derivative awards (options/option-style grants as described in footnotes), not immediate purchases or sales of stock; they do not represent an instant change in market position unless exercised or sold later.
• One tranche was granted in lieu of a cash bonus (F2) and vests sooner; another follows a standard multi-year vesting schedule (F1). Such awards are commonly used for retention and compensation and should not be interpreted as a direct buy/sell signal.
• As always, investors should consider insider awards in the context of company performance, dilution, and total outstanding shares rather than as standalone indicators of insider sentiment.