ARMEN GARO H 4

What Happened
Garo H. Armen, Chairman, Chief Executive Officer and Principal Financial Officer of Agenus Inc. (AGEN), received 4,540 shares of common stock on May 15, 2026 as salary paid in stock. The filing values the issuance at $3.58 per share for a total of $16,253. This was an award/acquisition issued under the company’s 2019 Equity Incentive plan and the shares were fully vested on issuance.

Key Details

• Transaction date: May 15, 2026; Filing date: May 19, 2026 (filed within required reporting window).
• Price used for valuation: $3.58 per share (closing price on May 15, 2026).
• Shares issued: 4,540; total value reported: $16,253.
• Shares were issued as salary in lieu of cash (net amount for the pay period ending May 15, 2026).
• Shares are held in Dr. Armen’s IRA accounts per the filing.
• The filing does not state the total number of Agenus shares Dr. Armen beneficially owns after this issuance.
• Notable ownership disclosures: Dr. Armen is trustee and has investment authority for the Garo Armen 2020 2 Year AG 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 in Pixie.

Context
This was a compensation issuance (salary paid in stock), not an open-market buy or sale. Such awards reflect how an insider is being paid rather than a direct signal of personal buying/selling intent. The shares were fully vested at issuance and are held in IRA accounts; reporting was timely.