Agenus grants CEO Garo Armen 1,971,500 performance-based stock options at $7.78 per share

Agenus set a one-time performance-based stock option award for Chairman and CEO Garo H. Armen on Aug. 10, 2026.

• Award totals 1,971,500 performance-based stock options with a 10-year term.
• Exercise price set at $7.78 per share, above the Aug. 10 close, matching management grants from Aug. 5.
• Vesting is tied to sustaining 30 days at 3x to 8x of $7.78 within five years, with a three-year service minimum.
• Unvested options forfeit on any termination, including change in control; no acceleration.
• Post-exercise shares generally must be held for one year.