AGENUS INC — Director's Dealing 2011

Oct 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGENUS INC (agend)
CIK: 0001098972
Period of Report: 2011-09-30

Reporting Person: ARMEN GARO H (Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-30	Common Stock	P	16666	$2.9862	Acquired	911363	Direct
2011-10-03	Common Stock	J	3966	$3.3276	Acquired	915329	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	831142	Indirect

Footnotes

F1: Represents an open market purchase of 100,000 pre-split shares adjusted for the 1:6 reverse stock split effective October 3, 2011.

F2: Dr. Armen is trustee and has investment authority for the Garo Armen 2009 2 Year GRAT and the Garo Armen 2009 4 Year GRAT, each holding 211,850 and 363,969 shares of Agenus Inc. common stock, respectively. Dr. Armen disclaims beneficial ownership therein. Dr. Armen is the General Partner of Armen Partners LP. As of the date of this report Armen Partners owns a total of 251,277 shares of Agenus Inc. common stock. Dr. Armen is also the CEO, Chairman of the Board of Managers and a member of Antigenics Holdings LLC ("Holdings") which, as of the date of this report owns 4,046 shares of Agenus Inc. common stock. Dr. Armen has a pecuniary interest in only a portion of the shares held by Armen Partners and Holdings and disclaims beneficial ownership except to the extent of his pecuniary interest therein.

F3: Represents the issuance of stock for payment of 34% of Dr. Armen's base salary for the month of September 2011.