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ARGAN INC Director's Dealing 2008

Oct 10, 2008

31210_dirs_2008-10-10_cac7caf0-988a-4dbd-a6a3-9967ca96edee.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGAX)
CIK: 0000100591
Period of Report: 2008-10-08

Reporting Person: SCOTT RICHARD L (10% Owner)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2008-10-08 Common Stock X 100000 $12.50 Acquired 1650000 Indirect

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2008-10-08 Stock Option (right to buy) $12.50 X 100000 Disposed 2008-10-18 Common Stock (100000) Indirect

Holdings (Derivative)

Security Exercise Price Expiration Underlying Shares Ownership
Stock Option (right to buy) $15.00 2009-10-18 Common Stock (200000) 200000 Indirect

Footnotes

F1: This figure only includes options with an exercise price of $12.50.

F2: This figure only includes options with an exercise price of $15.00.