ARGAN INC — Director's Dealing 2021

Dec 16, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGX)
CIK: 0000100591
Period of Report: 2021-12-14

Reporting Person: Leimkuhler William F. (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-12-14	Option to Purchase Common Stock	$37.13	A	5000	Acquired	2031-12-14	Common Stock (5000)	Direct
2021-12-14	Time-Based Restricted Stock Units	$0	A	1750	Acquired	2024-12-14	Common Stock (1750)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30000	Direct
Common Stock	1000	Indirect
Common Stock	1000	Indirect

Footnotes

F1: On December 14, 2021, the Reporting Person received 10-year options to purchase 5,000 shares of the Issuer's Common Stock at an exercise price of $37.13 per share. The options will vest ratably over three years on each anniversary of the grant date beginning on 12/14/2022

F2: As of the date of this filing, the Reporting Person owns options to purchase (a) 10,000 shares of Common Stock at a price of $26.88 per share with initial Date Exercisable of 12/17/2014 and Expiration Date of 12/17/2023; (b) 10,000 shares of Common Stock at a price of $31.82 per share with initial Date Exercisable of 12/11/2015 and Expiration Date of 12/11/2024; (c) 10,000 shares of Common Stock at a price of $30.44 per share with initial Date Exercisable of 1/7/2017 and Expiration Date of 1/7/2026; (d) 10,000 shares of common stock at a price of $71.75 per share with initial Date Exercisable of 1/5/2018 and Expiration Date of 1/5/2027; (e) 10,000 shares of common stock at a price of $46.35 per share with initial Date Exercisable of 1/11/2019 and Expiration Date of 1/11/2028; (f) 10,000 shares of common stock at a price of $41.19 per share with initial Date Exercisable of 12/12/2019 and Expiration Date of 12/12/2028;

F3: (g) 10,000 shares of common stock at a price of $40.15 with initial Date Exercisable of 12/23/2020 and an Expiration Date of 12/23/2029; (h) 10,000 shares of common stock at a price of $45.75 per share with initial Date Exercisable of 12/14/2021 and Expiration Date of 12/14/2030; and (i) 5,000 shares of common stock at a price of $37.13 per share with initial Date Exercisable of 12/14/2022 and Expiration Date of 12/14/2031. All stock options are subject to the aforementioned three-year ratable vesting schedule except those awarded prior to January 2018 which vested fully on the first anniversary of the date of award.

F4: On December 14, 2021, the Reporting Person was granted Time-Based Restricted Stock Units (the "TBRSUs") covering 1,750 shares of common stock. The TBRSUs will vest in their entirety on the third anniversary of the grant date on 12/14/2024.