Routine Equity Grant Filed by Agenus Director Signals Neutral Insider Activity

Rhea-AI Filing Summary

Agenus (NASDAQ: AGEN) filed a Form 4 disclosing that director Brian Corvese received two option grants totaling 30,750 derivative securities on 06/17/2025, following shareholder approval of the 05/28/2025 grant date.

The options carry a $3.02 exercise price and expire on 05/28/2035. A 750-unit grant vests one-third on 05/28/2026 with quarterly vesting thereafter, while the larger 30,000-unit grant vests fully on the one-year anniversary of the grant date. No common shares were bought or sold, so Corvese’s direct ownership only increased by the new option awards.

Insights

Corporate Governance Expert

TL;DR: Routine director option grant; neutral signal.

The filing records ordinary-course compensation under the 2019 Equity Incentive Plan. The 30,750 options, worth roughly $93k at the $3.02 strike, represent a minor slice of Agenus’s equity base and do not indicate bullish or bearish sentiment because no shares were sold. Vesting schedules (one-year cliff and three-year graded) align with standard retention practice. Given the size and structure, the disclosure is non-material for valuation models and carries neutral impact for investors.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Corvese Brian

(Last) (First) (Middle)

C/O AGENUS INC.

3 FORBES ROAD

(Street)

LEXINGTON MA 02421

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AGENUS INC [ AGEN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option	$3.02	06/17/2025		A		750		(1)	05/28/2035	Common Stock	750	$0.00	750	D
Stock Option	$3.02	06/17/2025		A		30,000		(2)	05/28/2035	Common Stock	30,000	$0.00	30,000	D

Explanation of Responses:

1. Options were granted on May 28, 2025 subject to shareholder approval, which was obtained at the Company's annual shareholder meeting on June 17, 2025. Option awarded in accordance with the Agenus Inc. 2019 Amended and Restated Equity Incentive Plan, and vests over three years with one-third of the award vesting on May 28, 2026, and the balance vesting in equal quarterly installments thereafter.

2. Options were granted on May 28, 2025 subject to shareholder approval, which was obtained at the Company's annual shareholder meeting on June 17, 2025. Option awarded in accordance with the Agenus Inc. 2019 Amended and Restated Equity Incentive Plan, and vests on the one-year anniversary of the grant date.

	/s/Christine Klaskin, as Attorney-in-Fact for Brian Corvese	06/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

How many Agenus (AGEN) stock options were granted to director Brian Corvese on June 17 2025?

The Form 4 shows two grants totaling 30,750 options (750 + 30,000).

What is the exercise price of the options reported in Agenus’s latest Form 4?

Both option grants have an exercise price of $3.02 per share.

When do the newly granted Agenus options to Brian Corvese expire?

The options expire on 05/28/2035.

Did the director sell or acquire any Agenus common shares in this filing?

No common shares were bought or sold; the filing only reports new option grants.