ARGAN INC — Director's Dealing 2017

Apr 17, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGX)
CIK: 0000100591
Period of Report: 2017-04-13

Reporting Person: Watson David Hibbert (SVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-04-13	Common Stock	M	2554	$33.85	Acquired	3904	Direct
2017-04-13	Common Stock	S	2204	$66.00	Disposed	1700	Direct
2017-04-17	Common Stock	M	7446	$33.85	Acquired	9146	Direct
2017-04-17	Common Stock	S	6446	$65.07	Disposed	2700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-04-13	Stock Option to purchase Common Stock	$33.85	M	2554	Disposed	2026-04-13	Common Stock (2554)	Direct
2017-04-17	Stock Option to purchase Common Stock	$33.85	M	7446	Disposed	2026-04-13	Common Stock (7446)	Direct

Footnotes

F1: On April 13, 2017, the Reporting Person exercised his stock option received on April 13, 2016 to purchase 2,554 shares of the Issuer's common stock at a price of $33.85 per share.

F2: On April 13, 2017, the Reporting Person sold 2,204 shares of the Issuer's common stock on the open market at an average price of $66.00 per share.

F3: On April 17, 2017, the Reporting Person exercised his stock option received on April 13, 2016 to purchase 7,446 shares of the Issuer's common stock at a price of $33.85 per share.

F4: On April 17, 2017, the Reporting Person sold 6,446 shares of the Issuer's common stock on the open market at an average price of $65.07 per share.

F5: As of the date of this filing, the total number of options owned by the Reporting Person includes (a) options to acquire 30,000 shares of common stock at a price of $41.68 with Date Exercisable of 06/23/2017 and Expiration Date of 06/23/2026; and (b) options to acquire 40,000 shares of common stock at a price of $64.25 per share with Date Exercisable of 04/06/2018 and Expiration Date of 04/06/2027.