ARGAN INC — Director's Dealing 2017

Jan 20, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGX)
CIK: 0000100591
Period of Report: 2017-01-19

Reporting Person: Flanders Cynthia (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-19	Common Stock	M	10000	$18.87	Acquired	22000	Direct
2017-01-19	Common Stock	S	10000	$70.6711	Disposed	12000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-01-19	Stock Option to purchase Common Stock	$18.87	M	10000	Disposed	2022-12-18	Common Stock (10000)	Direct

Footnotes

F1: On January 19, 2017, the Reporting Person purchased 10,000 shares of the Issuer's common stock with an exercise price of $18.87 per share through an cashless exercise of her stock option received on December 18, 2012.

F2: On January 19, 2017, the Reporting Person sold the 10,000 shares of the Issuer's common stock which were acquired pursuant to the exercise of stock options on the same day [see footnote 1 above] on the open market at a price of $70.67114 per share.

F3: As of the date of this filing, the total number of options owned by the Reporting Person includes (a) options to acquire 10,000 shares of common stock at a price of $26.88 per share with Date Exercisable of 12/17/2014 and Expiration Date of 12/17/2023; (b) options to acquire 10,000 shares of common stock at a price of $31.82 with Date Exercisable of 12/11/2015 and Expiration Date of 12/11/2024; and (c) options to acquire 10,000 shares of common stock at a price of $30.44 per share with Date Exercisable of 1/7/2017 and Expiration Date of 1/7/2026.