[144] ARGAN INC SEC Filing

Rhea-AI Filing Summary

ARGAN, Inc. (AGX) Rule 144 notice: The filer plans to sell 49,401 shares of common stock through Raymond James on the NYSE with an aggregate market value of $11,955,042, based on the filing. The shares reported for sale were acquired on 09/18/2025 as an equity grant from the issuer and the payment/transfer is listed as an option exercise on the same date. The filing also discloses two sales by the same person within the prior three months: 1,500 shares sold on 07/29/2025 for $362,250 and 5,000 shares sold on 07/31/2025 for $1,225,000. The filer represents no undisclosed material adverse information.

Positive

• Rule 144 notice filed, providing regulatory transparency for the proposed sale
• Securities were acquired via equity grant and sale follows an option exercise, indicating normal compensation liquidity

Negative

• Recent insider sales total 6,500 shares in July for $1,587,250, which may indicate ongoing monetization by the holder

Insights

Securities Analyst

TL;DR: Routine insider filing for stock issued via equity grant and option exercise; not clearly material to valuation.

This Form 144 notifies a proposed sale of 49,401 shares (about 0.36% of the 13,811,575 shares outstanding reported). The shares were acquired by equity grant and reported as sold via option exercise, indicating the holder is liquidating vested compensation. Prior small insider sales in July totaled 6,500 shares for $1,587,250, showing recent partial monetization. Absent pricing context or larger ownership details, the filing appears routine and compliant with Rule 144 disclosure requirements rather than indicating a material corporate development.

Corporate Governance Expert

TL;DR: Disclosure meets Rule 144 mechanics; raises governance transparency but not a red flag on its face.

The submission discloses acquisition date, nature (equity grant), and exercise-based payment, plus broker and planned sale date, which aligns with standard insider reporting. The signature representation that no undisclosed material adverse information exists is included. The filing does not state the filer’s total beneficial ownership or the reason for sale beyond exercise; those omissions limit governance context but do not constitute a compliance failure within this notice.

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	Raymond James & Associates 880 Carillon Parkway St. Petersburg FL 33716	49401	11955042	13811575	09/18/2025	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	09/18/2025	EQUITY GRANT	ISSUER			49401	09/18/2025	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Charles E .Collins IV 4075 Wilson Boulevard Suite 440 Arlington VA 22203	Common Stock	07/29/2025	1500	362250
Charles E .Collins IV 4075 Wilson Boulevard Suite 440 Arlington VA 22203	Common Stock	07/31/2025	5000	1225000

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 the AGX Form 144 disclose about the proposed sale?

The filing states the proposed sale of 49,401 shares of common stock on 09/18/2025 through Raymond James with an aggregate market value of $11,955,042.

How were the 49,401 AGX shares acquired?

The shares were acquired on 09/18/2025 by equity grant from the issuer and the transaction is listed as an option exercise.

Were there any AGX insider sales in the past three months?

Yes. The filer sold 1,500 shares on 07/29/2025 for $362,250 and 5,000 shares on 07/31/2025 for $1,225,000.

Through which broker will the AGX shares be sold?

The notice lists Raymond James & Associates at 880 Carillon Parkway, St. Petersburg, FL as the broker of record.

How many AGX shares are reported outstanding in the filing?

The filing reports 13,811,575 shares outstanding for the issuer.