Agenus grants CEO Garo Armen 1.97M performance stock options at $7.78 premium exercise price

AGENUS INC

Compensation Committee approved 1,971,500 performance-based stock options for CEO Garo Armen on Aug 10, 2026.
Exercise price set at $7.78/share, above Aug 10 closing price; CEO requested not to price below team's Aug 5 grant.
Options vest in 5 tranches at 3x, 4x, 5x, 6x, 8x of $7.78, sustained 30 days over 5-year period, min 3-year service.
Unvested options forfeited on termination; no acceleration; one-year post-exercise holding requirement; subject to clawback.

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