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Agenus Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

September 01, 2023 at 16:30 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Agenus Inc. (“Agenus”) (Nasdaq: AGEN), a leader in developing novel immunological agents to treat various cancers, today announced that the Compensation Committee of Agenus’ Board of Directors granted, as of September 1, 2023 (“Grant Date”), inducement awards to Robin Taylor, Ph.D. in connection with his appointment as Chief Commercial Officer. 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 Dr. Taylor consist of (i) nonqualified options to purchase 200,000 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, (ii) 100,000 restricted stock units that vest over three years in equal annual installments and (iii) 250,000 nonqualified options that vest in four equal annual installments starting on the second anniversary of Dr. Taylor joining Agenus; provided that each equity award to Dr. Taylor 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 follow us on LinkedIn and Twitter @agenus_bio.