ARGAN INC — Director's Dealing 2025

Dec 17, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGX)
CIK: 0000100591
Period of Report: 2025-12-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-14	Common Stock	M	856	—	Acquired	39690	Direct
2025-12-16	Common Stock	M	1844	—	Acquired	41534	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-14	Time-Based Restricted Stock Units	$0	M	833	Disposed		Common Stock (833)	Direct
2025-12-16	Time-Based Restricted Stock Units	$0	M	1750	Disposed		Common Stock (1750)	Direct

Footnotes

F1: Pursuant to the three-year vesting schedule of the Time-Based Restricted Stock Unit ("TRSU") awarded to the Reporting Person on December 14, 2023, 833 shares of common stock became issuable to the Reporting Person on December 14, 2025 and is adjusted for dividends.

F2: Pursuant to the three-year vesting schedule of the Time-Based Restricted Stock Unit ("TRSU") awarded to the Reporting Person on December 16, 2022, 1,750 shares of common stock became issuable to the Reporting Person on December 16, 2025 and is adjusted for dividends.