Agenus grants CEO Armen 1,971,500 performance stock options at $7.78 per share
Agenus approved a special, one-time performance-based stock option award to Chairman and CEO Garo H. Armen on August 10, 2026, covering 1,971,500 options with a 10-year term. The exercise price of $7.78 per share was set at Armen's request to match the price granted to other management on August 5, 2026, and it was above the August 10 closing price, so the options are not priced below the team's grants.
Key points
- Award: 1,971,500 performance-based stock options with a 10-year term under the Amended and Restated 2019 Equity Incentive Plan
- Exercise price: $7.78 per share, matching the August 5, 2026 management grants and above the August 10, 2026 closing price
- Vesting: five equal tranches tied to the stock sustaining 3x, 4x, 5x, 6x and 8x the $7.78 measurement price for 30 consecutive days within a five-year period, with a minimum three-year service requirement
- No acceleration on termination or change in control; the award is subject to the company's clawback policy
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 12, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.