AGENUS INC — Director's Dealing 2014

May 2, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AGENUS INC (AGEN)
CIK: 0001098972
Period of Report: 2014-05-01

Reporting Person: ARMEN GARO H (Chairman & CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-01	Common Stock	J	4740	$2.7843	Acquired	1674527	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4046	Indirect

Footnotes

F1: Represents issuance of stock for payment of 33% of Dr. Armen's base salary for April 2014.

F2: Dr. Armen is the 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 Holdings and disclaims beneficial ownership of his pecuniary interest therein.