ARGAN INC — Director's Dealing 2017

Feb 28, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGX)
CIK: 0000100591
Period of Report: 2017-01-05

Reporting Person: MITCHELL W G CHAMPION (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-05	Stock Option to purchase Common Stock	$71.75	A	10000	Acquired	2027-01-05	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7500	Indirect

Footnotes

F1: The Reporting Person's previously filed Form 4 inadvertently identified these 7,500 shares as directly owned by the Reporting Person, which was a typo. The shares are held by MMAB, LLC, of which the Report Person owns 1% interest and 100% voting power.

F2: Pursuant to a stock option agreement dated January 5, 2017, the Reporting Person received 10-year options to purchase 10,000 shares of the Issuer's common stock with an exercise price of $71.75 per share.

F3: The total number of stock options owned by the Reporting Person includes options to acquire (i) 5,000 shares of Common Stock at an Exercise Price of $12.43 per share with Date Exercisable of 12/17/2010 and Expiration Date of 12/17/2019; (ii) 5,000 shares of Common Stock at an Exercise Price of $17.33 per share with Date Exercisable of 12/20/2012 and Expiration Date of 12/20/2021; (iii) 10,000 shares of Common Stock at an Exercise Price of $18.87 per share with Date Exercisable of 12/18/2013 and Expiration Date of 12/18/2022; (iv) 10,000 shares of Common Stock at an Exercise Price of $26.88 per share with Date Exercisable of 12/17/2014 and Expiration Date of 12/17/2023; (v) 10,000 shares of Common Stock at an Exercise Price of $31.82 per share with Date Exercisable of 12/11/2015 and Expiration Date of 12/11/2024;

F4: (vi) 10,000 shares of Common Stock at an Exercise Price of $30.44 per share with Date Exercisable of 1/7/2017 and Expiration Date of 1/7/2026; and (vii) 10,000 shares of common stock at a price of $71.75 per share with Date Exercisable of 1/5/2018 and Expiration Date of 1/5/2027.