AGX insider sale notice: 16,557 shares via Allen & Company valued at $4.3M

Rhea-AI Filing Summary

Form 144 notice for Argan, Inc. (AGX) shows a proposed sale of 16,557 shares of common stock through Allen & Company on 09/19/2025, with an aggregate market value of $4,297,866.06. The filing lists 13,811,575 shares outstanding. The shares to be sold were acquired recently: 56,167 shares on 06/09/2025 via an equity grant (paid via option exercise) and 390 shares on 06/10/2025 as a time-based restricted stock issuance. The filer reports no securities sold in the past three months and includes the standard representation that no undisclosed material adverse information is known.

Positive

• Full disclosure of broker, share count, market value, acquisition dates, and payment method consistent with Rule 144 requirements
• No reported sales of the issuer's securities by the filer in the past three months, simplifying aggregation considerations

Negative

• Insider-origin shares (equity grant and restricted stock) are being offered for sale, which some investors may view negatively
• Large aggregate value (~$4.3M) could attract market attention despite limited context about motivation

Insights

Securities Compliance Analyst

TL;DR: Routine Rule 144 filing documenting a proposed sale of newly acquired shares; appears compliant with disclosure requirements.

The filing provides the necessary Rule 144 details: broker, number of shares, market value, acquisition dates and nature of acquisition, and a certification about material undisclosed information. It confirms no related sales in the prior three months, which simplifies aggregation rules. From a compliance perspective, documentation of acquisition dates and payment method (option exercise) supports the filer’s ability to rely on resale provisions if holding periods and other conditions are met.

Equity Markets Analyst

TL;DR: Insider-origin shares proposed for sale valued at ~$4.3M; transaction is observable but not necessarily material to company valuation.

The notice discloses a single proposed block of 16,557 shares for sale through a NYSE broker with an aggregate value of $4.3M. The underlying shares were recently issued to the filer via an equity grant and restricted stock issuance in June 2025. While the filing makes the sale transparent, it contains no commentary on intent beyond compliance and no prior three-month sales, limiting immediate market-impact interpretation.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Allen & Company 711 Fifth Avenue New York NY 10022	16557	4297866.06	13811575	09/19/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	06/09/2025	EQUITY GRANT	ISSUER			56167	06/09/2025	OPTION EXERCISE
Common Stock	06/10/2025	TIME-BASED RESTRICTED STOCK ISSUANCE	ISSUER			390	06/09/2025	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Argan (AGX) Form 144 report?

The filing reports a proposed sale of 16,557 shares of common stock through Allen & Company on 09/19/2025, valued at $4,297,866.06.

How were the shares acquired that are proposed for sale?

The shares were acquired as an equity grant (56,167 shares on 06/09/2025, paid via option exercise) and a time-based restricted stock issuance (390 shares on 06/10/2025).

Has the filer sold any AGX securities in the past three months?

The filing states Nothing to Report for securities sold during the past three months.

Through which broker will the proposed sale occur?

The proposed sale is listed to occur through Allen & Company, located at 711 Fifth Avenue, New York, NY.

Does the filing state any undisclosed adverse information about Argan?

By signing the notice, the filer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.