On August 10, 2026, Agenus Inc.'s Compensation Committee approved a special one-time performance-based stock option award for Chairman and CEO Garo H. Armen. The award consists of 1,971,500 options with a $7.78 exercise price, set at the request of Dr. Armen to match other management grants and exceed the closing market price. Vesting is contingent on the stock price sustaining levels equal to 3x through 8x of the measurement price for 30 consecutive days within a five-year period, subject to a three-year minimum service requirement. Unvested options are forfeited upon termination without acceleration in a change of control. Agenus Inc. operates in the biotechnology industry, developing immunotherapies and vaccines.
