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: QUINN JAMES W (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	64570	Direct

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 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;

F3: (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; (g) 10,000 shares of common stock at a price of $40.15 per share with initial Date Exercisable of 12/23/2020 and 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

F4: (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.

F5: 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 their grant date on 12/14/2024.