ARGAN INC — Director's Dealing 2022

Apr 19, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGX)
CIK: 0000100591
Period of Report: 2022-04-16

Reporting Person: Deily Richard H (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-04-16	Common Stock	M	1193	—	Acquired	2193	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-04-18	Option to Purchase Common Stock	$36.78	A	3500	Acquired	2032-04-18	Common Stock (3500)	Direct
2022-04-18	Time-Based Restricted Stock Units	$0	A	3500	Acquired		Common Stock (3500)	Direct

Footnotes

F1: On April 16, 2022, the Reporting Person had Time-Based Restricted Stock Units (the "TRSUs") vest in the amount of 1,193 shares of Common Stock. This issuance is pursuant to the three year vesting schedule of the 3,500 TRSU award that was granted on April 16, 2022 and is adjusted for cash dividends.

F2: On April 18, 2022, the Reporting Person received 10-year options to purchase 3,500 shares of the Issuer's common stock with an exercise price of $36.78 per share. The options will vest ratably over three years on each anniversary of the grant date starting from 04/18/2023.

F3: As of the date of this Filing, the total number of options owned by the Reporting Person includes (a) options to purchase a total of 10,000 shares of common stock at the price of $33.85 per share with the date exercisable of 04/13/2017 and expiration date of 04/13/2026; (b) options to acquire 10,000 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; (c) options to acquire 10,000 shares of common stock at a price of $37.60 per share with Date Exercisable of 04/13/2019 and Expiration Date of 04/13/2028; (d) options to acquire 10,000 shares of common stock at a price of $50.30 per share with Date Exercisable of 4/12/2020 and Expiration Date of 4/12/2029;

F4: (e) options to acquire 10,000 shares of common stock at a price of $33.81 per share with a Date Exercisable of 4/16/2021 and Expiration Date of 4/16/2030; (f) options to acquire 3,500 shares of common stock at a price of $54.60 per share with a Date Exercisable of 4/16/2022 and Expiration Date of 4/16/2031, and (g) options to acquire 3,500 shares of common stock at a price of $36.78 per share with a Date Exercisable of 4/18/2023 and Expiration Date of 4/18/2032. Options identified in subjects (c), (d), (e), (f) and (g) are subject to the aforementioned three-year ratably vesting schedule.

F5: On April 18, 2022, the Reporting Person was granted Time-Based Restricted Stock Units (the "TBRSUs") covering 3,500 shares of common stock. The TBRSUs will vest in equal installments on each of the next three anniversaries of the grant date starting on 04/18/2023.

F6: As of the date of this filing, the remaining number of TBRSUs beneficially owned by the Reporting Person includes (a) 2,334 shares of TBRSUs granted on April 12, 2021; and (b) 3,500 shares of TBRSUs granted on April 18, 2022, all to vest pursuant to the three year vesting schedule reported under footnote 5 above.