[144] ARGAN INC SEC Filing

Rhea-AI Filing Summary

ARGAN, Inc. (AGX) submitted a Form 144 notifying the SEC of a proposed sale of 390 shares of common stock through Raymond James & Associates on 09/19/2025 with an aggregate market value of $103,014.60. The filing reports 13,811,575 shares outstanding for the issuer.

The 390 shares were acquired on 06/10/2025 as a time-based restricted stock issuance from the issuer and were paid on that same date. The filer reports no securities sold in the past three months and includes the standard signature representation that the seller is not aware of undisclosed material adverse information.

Positive

• Full disclosure of broker, quantity, acquisition date, and aggregate market value in accordance with Rule 144
• No reported sales in the prior three months by the selling person, simplifying required aggregation

Negative

• Planned sale occurs approximately three months after issuance (acquired 06/10/2025, sale 09/19/2025), which may raise timing questions for some investors

Insights

Securities Analyst

TL;DR: Routine insider notice of a proposed sale of 390 shares arising from a recent restricted stock issuance; appears procedural.

The Form 144 documents a planned brokered sale through Raymond James totaling $103,014.60. The shares were granted as time-based restricted stock on 06/10/2025 and are now being offered for sale on 09/19/2025. There are no reported sales by the same person in the prior three months. From a market-impact perspective, the size of the sale represents a de minimis portion of the 13.8 million shares outstanding, suggesting limited direct dilution or market pressure. The filing includes the required insider certification regarding material non-public information.

Corporate Governance Expert

TL;DR: Disclosure complies with Rule 144; timing shows sale of recently issued restricted shares after vesting or eligibility.

The notice identifies the securities as time-based restricted stock issued by the company on 06/10/2025 and slated for brokered sale on 09/19/2025. The Form 144 fulfills procedural disclosure obligations under Rule 144 by specifying acquisition details, broker, and planned sale date. The absence of reported sales in the preceding three months simplifies aggregation considerations. The filing also contains the attestation that the seller lacks undisclosed material adverse information, a standard governance representation.

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	390	103014.60	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	06/10/2025	TIME-BASED RESTRICTED STOCK ISSUANCE	ISSUER			390	06/10/2025	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 exactly is being sold in the AGX Form 144?

The filer proposes to sell 390 shares of AGX common stock through Raymond James & Associates on 09/19/2025 with an aggregate market value of $103,014.60.

How and when were the 390 AGX shares acquired?

The shares were acquired on 06/10/2025 as a time-based restricted stock issuance from the issuer and were paid for on that date.

Does the filer report other recent sales of AGX securities?

The filing states "Nothing to Report" for securities sold during the past three months by the person for whose account the securities are to be sold.

Which broker is handling the proposed AGX sale?

The broker listed is Raymond James & Associates, 880 Carillon Parkway, St. Petersburg, FL.

How many AGX shares are outstanding according to the filing?

The Form 144 reports 13,811,575 shares outstanding for the issuer.