AGEN Form 4: Garo Armen Paid 3,778 Shares at $4.33
Rhea-AI Filing Summary
Garo H. Armen, Chairman and CEO of Agenus Inc. (AGEN), received 3,778 shares of common stock as payment of salary for the pay period ending September 5, 2025. The shares were issued under the Amended and Restated Agenus Inc. 2019 Equity Incentive plan and were fully vested on issuance. The report shows a per-share value of $4.33, the closing price on September 5, 2025. Following this issuance, Dr. Armen beneficially owns 274,708 shares directly and additional indirect holdings reported as 31,298 and 28,950 shares held in IRA accounts and other vehicles described in the footnotes. The Form 4 was signed by an attorney-in-fact on behalf of Dr. Armen on September 8, 2025.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine director/CEO stock-for-salary issuance; modest change to insider holdings.
The Form 4 documents a common practice where an executive elects to receive compensation in equity rather than cash. The reported 3,778-share issuance at $4.33 per share increases Dr. Armen's direct beneficial ownership to 274,708 shares. This transaction is non-derivative, fully vested on issuance, and appears administrative rather than signaling a material shift in company capital structure or control. It does not disclose any exercised options or derivative transactions.
TL;DR: Compensation committee-approved equity payroll; disclosure meets Section 16 reporting norms.
The filing notes Compensation Committee approval and issuance under the company equity incentive plan, with customary footnote disclosure about indirect holdings (IRAs, GRAT, partnership interests) and disclaimer of pecuniary interest where applicable. The signature by an attorney-in-fact is properly noted. There are no indications of unusual timing, sales, or plan suspensions; the filing is consistent with routine governance and executive compensation administration.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 3,778 | $4.33 | $16K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- At his request and with the approval of the Agenus Inc. Compensation Committee, Garo H. Armen's salary is being paid in stock, in lieu of cash. The amount reported herein represents the net amount of Dr. Armen's salary for the pay period ending September 5, 2025. Such shares are issued in accordance with the Amended and Restated Agenus Inc. 2019 Equity Incentive are fully vested on the date of issuance. $4.33 is the closing price of our Common Stock on September 5, 2025, the last trading day for the payroll date for the pay period ending September 5, 2025. Shares are held in Dr. Armen's IRA accounts. Dr. Armen is trustee and has investment authority for the Garo Armen 2020 2 Year AG GRAT holder of 23,950 shares of our Common Stock. Dr. Armen is a general partner in Pixie Partners, a General Partnership ("Pixie"), which as of the date of this report owns 5,000 shares of our Common Stock. Dr. Armen has a pecuniary interest in only a portion of the shares held by Pixie and disclaims beneficial ownership to the extent of his pecuniary interest therein.
