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Agenus Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
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Rhea-AI Summary
Agenus grants inducement awards to new Chief Commercial Officer
Positive
Dr. Taylor receives 200,000 stock options with a 10-year term and vesting over four years
Dr. Taylor also receives 100,000 restricted stock units that vest over three years
Agenus grants 250,000 stock options to Dr. Taylor that vest in four equal annual installments
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None.
LEXINGTON, Mass.--(BUSINESS WIRE)--
Agenus Inc. (“Agenus”) (Nasdaq: AGEN), a leader in developing novel immunological agents to treat various cancers, today announced that the Compensation Committee of Agenus’ Board of Directors granted, as of September 1, 2023 (“Grant Date”), inducement awards to Robin Taylor, Ph.D. in connection with his appointment as Chief Commercial Officer. The Compensation Committee approved the awards pursuant to Agenus' 2015 Inducement Equity Plan and in accordance with Nasdaq Listing Rule 5635(c)(4).
The awards to Dr. Taylor consist of (i) nonqualified options to purchase 200,000 shares of Agenus common stock with a 10-year term, an exercise price equal to the closing price of Agenus' common stock on the Grant Date, and vesting over four years in equal annual installments, (ii) 100,000 restricted stock units that vest over three years in equal annual installments and (iii) 250,000 nonqualified options that vest in four equal annual installments starting on the second anniversary of Dr. Taylor joining Agenus; provided that each equity award to Dr. Taylor is subject to him maintaining a service relationship with the company through the relevant vest date.
About Agenus
Agenus is a leading immuno-oncology company targeting cancer and infectious diseases with a comprehensive pipeline of immunological agents. The company’s mission is to expand patient populations benefiting from cancer immunotherapy through combination approaches, using a broad repertoire of antibody therapeutics, adoptive cell therapies (through MiNK Therapeutics) and adjuvants (through SaponiQx). Agenus is headquartered in Lexington, MA. For more information, visit www.agenusbio.com or follow us on LinkedIn and Twitter @agenus_bio.
agenus is an immunology company discovering and developing novel checkpoint modulators, vaccines and adjuvants to treat cancer and other diseases. we are a dedicated group of scientists, researchers, biotechnologists, physicians, and businesspeople working together toward one goal: to discover and develop therapies that can unleash the innate power of the body’s immune system to treat and potentially cure hard-to-treat cancers and other diseases. our product candidates are designed to work by educating and activating the body’s immune system for a precise and potent attack on cancer. our strategy is to help unlock the potential of one of the most exciting breakthrough areas in cancer treatment in decades, and to develop single agent and combination immune-oncology therapies that can help save lives. our approaches are driven by three platform technologies, including: • our antibody platforms, including our proprietary retrocyte display™ and secant® technologies, and our antibody
