ARGAN INC — Director's Dealing 2026

Jan 9, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ARGAN INC (AGX)
CIK: 0000100591
Period of Report: 2026-01-07

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-01-07	Common Stock	M	8794	$40.15	Acquired	49828	Direct
2026-01-07	Common Stock	M	8626	$45.75	Acquired	58454	Direct
2026-01-07	Common Stock	M	4442	$37.13	Acquired	62896	Direct
2026-01-07	Common Stock	M	4463	$35.72	Acquired	67359	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-07	Option to Purchase Common Stock	$40.15	M	10000	Disposed	2029-12-23	Common Stock (10000)	Direct
2026-01-07	Option to Purchase Common Stock	$45.75	M	10000	Disposed	2030-12-14	Common Stock (10000)	Direct
2026-01-07	Option to Purchase Common Stock	$37.13	M	5000	Disposed	2031-12-14	Common Stock (5000)	Direct
2026-01-07	Option to Purchase Common Stock	$35.72	M	5000	Disposed	2032-12-16	Common Stock (5000)	Direct

Footnotes

F1: On January 7, 2026, the Reporting Person exercised his stock option awarded on December 23, 2019 to purchase 10,000 shares of the Issuer's common stock at a price of $40.15 per share, using the net settle method.

F2: On January 7, 2026, the Reporting Person exercised his stock option awarded on December 14, 2020 to purchase 10,000 shares of the Issuer's common stock at a price of $45.75 per share, using the net settle method.

F3: On January 7, 2026, the Reporting Person exercised his stock option awarded on December 14, 2021 to purchase 5,000 shares of the Issuer's common stock at a price of $37.13 per share, using the net settle method.

F4: On January 7, 2026, the Reporting Person exercised his stock option awarded on December 16, 2022 to purchase 5,000 shares of the Issuer's common stock at a price of $35.72 per share, using the net settle method.