[144] ARGAN INC SEC Filing

Rhea-AI Filing Summary

Argan, Inc. (AGX) filed a Form 144 notice indicating a proposed sale of 4,441 shares of common stock through Raymond James & Associates on 10/09/2025. The filing lists an aggregate market value of $1,245,656.09 and shows 13,811,575 shares outstanding, implying the sale represents a very small fraction of the company.

The shares were acquired on 09/10/2024 as an equity grant and paid via option exercise on the same date. No other sales in the prior three months were reported. The filing includes the standard Rule 144 representation that the seller is not aware of undisclosed material adverse information.

Positive

• Filing complies with Rule 144 formalities, naming broker and sale details
• No other insider sales reported in the prior three months

Negative

• Insider plans to sell shares (4,441) representing ~0.032 of outstanding shares, which could be viewed negatively by some investors

Insights

Securities Compliance Analyst

TL;DR: A routine Rule 144 notice showing an insider sale after an equity grant exercise; paperwork aligns with Rule 144 timing and disclosures.

This notice reports the proposed sale of 4,441 shares (aggregate market value $1,245,656.09) to be executed on 10/09/2025, with acquisition recorded as an equity grant on 09/10/2024 and payment via option exercise. The broker is identified and prior three-month sales are listed as "Nothing to Report," which is consistent with a single, disclosed transaction.

The main compliance dependencies are adherence to Rule 144 holding/notice requirements and the seller's attestation of no undisclosed material adverse information. Monitor the actual trade date for execution details and any subsequent filings that confirm completion or changes.

Equity Markets Analyst

TL;DR: The sale size is immaterial to capitalization but is an insider liquidity event tied to an option exercise.

The proposed sale equals approximately 0.032 of the 13,811,575 shares outstanding, so it is unlikely to move market supply materially. The timing—sale after an option exercise—indicates a common liquidity step rather than a company capital action.

Key items to watch are whether the sale is executed on 10/09/2025 and any accompanying disclosures; actual proceeds and any pattern of further insider sales in the next three months could slightly alter investor perception.

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

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	Raymond James & Associates 880 Carillon Parkway St. Petersburg FL 33716	4441	1245656.09	13811575	10/09/2025	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	09/10/2024	EQUITY GRANT	ISSUER			4441	09/10/2024	OPTION EXERCISE

* 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 did Argan (AGX) disclose in this Form 144?

The filing discloses a proposed sale of 4,441 common shares through Raymond James on 10/09/2025 with aggregate market value $1,245,656.09 and 13,811,575 shares outstanding.

When and how were the shares acquired that are being sold?

The shares were acquired on 09/10/2024 as an equity grant and paid via option exercise on the same date.

Does this filing report other insider sales in the past three months for AGX?

No. The filing states "Nothing to Report" for securities sold during the past three months.

How large is the proposed sale relative to the company's outstanding shares?

The sale of 4,441 shares represents approximately 0.032 of the 13,811,575 shares outstanding.

What attestation does the filer make in the Form 144?

By signing, the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed and notes the Rule 10b5-1 planning language if applicable.