Agenus Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
January 05 2024 - 4:30PM
Business Wire
Agenus Inc. (“Agenus”) (Nasdaq: AGEN), a leader in discovering
and developing novel immunological agents to treat various cancers,
today announced that the Compensation Committee of Agenus’ Board of
Directors granted, as of January 2, 2024 (“Grant Date”), inducement
awards to Manuel Duenas and Benny Johnson in connection with their
appointments as Head of Market Access and Senior Medical Director,
respectively. The Compensation Committee approved the awards
pursuant to Agenus' 2015 Inducement Equity Plan and in accordance
with Nasdaq Listing Rule 5635(c)(4).
The awards to Manuel Duenas consist of (i) options to purchase
95,000 shares of Agenus common stock with a 10-year term, an
exercise price equal to the closing price of Agenus' common stock
on the Grant Date, and vesting over four years in equal annual
installments and (ii) 110,000 restricted stock units that vest over
three years in equal annual installments; provided that each equity
award to Manuel Duenas is subject to him maintaining a service
relationship with the company through the relevant vest date.
The awards to Benny Johnson consist of (i) options to purchase
24,500 shares of Agenus common stock with a 10-year term, an
exercise price equal to the closing price of Agenus' common stock
on the Grant Date, and vesting over four years in equal annual
installments and (ii) 20,000 restricted stock units that vest over
three years in equal annual installments; provided that each equity
award to Benny Johnson is subject to him maintaining a service
relationship with the company through the relevant vest date.
About Agenus
Agenus is a leading immuno-oncology company targeting cancer and
infectious diseases with a comprehensive pipeline of immunological
agents. The company’s mission is to expand patient populations
benefiting from cancer immunotherapy through combination
approaches, using a broad repertoire of antibody therapeutics,
adoptive cell therapies (through MiNK Therapeutics) and adjuvants
(through SaponiQx). Agenus is headquartered in Lexington, MA. For
more information, visit www.agenusbio.com or @agenus_bio.
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