Argan Inc. (AGX) director James Quinn details RSU vesting and holdings

Rhea-AI Filing Summary

Argan Inc. director James W. Quinn reported the vesting and settlement of time-based restricted stock units into common shares. On December 14, 2025, 856 common shares were acquired at an exercise price of $0, increasing his direct holdings to 5,434 shares. On December 16, 2025, he acquired a further 1,844 shares at $0, bringing his direct ownership to 7,278 shares.

The underlying awards were Time-Based Restricted Stock Units awarded on December 14, 2023 and December 16, 2022, each with a three-year vesting schedule. According to the disclosure, 833 and 1,750 shares of common stock became issuable on December 14 and December 16, 2025, respectively, with amounts adjusted for dividends. Following these transactions, Quinn also reported indirect ownership of 43,992 shares held by the James W. Quinn 2025 GRAT No.1 and continued holdings of 3,114 and 1,364 Time-Based Restricted Stock Units.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

QUINN JAMES W

(Last) (First) (Middle)

C/O ALLEN & COMPANY, 711 FIFTH AVENU

(Street)

NEW YORK NY 10022

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ARGAN INC [ AGX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/14/2025		M		856(1)	A	$0	5,434	D
Common Stock	12/16/2025		M		1,844(2)	A	$0	7,278	D
Common Stock								43,992	I	the James W. Quinn 2025 GRAT No.1

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Time-Based Restricted Stock Units	$0	12/14/2025		M			833	(1)	(1)	Common Stock	833	$0	3,114	D
Time-Based Restricted Stock Units	$0	12/16/2025		M			1,750	(2)	(2)	Common Stock	1,750	$0	1,364	D

Explanation of Responses:

1. Pursuant to the three-year vesting schedule of the Time-Based Restricted Stock Unit ("TRSU") awarded to the Reporting Person on December 14, 2023, 833 shares of common stock became issuable to the Reporting Person on December 14, 2025 and is adjusted for dividends.

2. Pursuant to the three-year vesting schedule of the Time-Based Restricted Stock Unit ("TRSU") awarded to the Reporting Person on December 16, 2022, 1,750 shares of common stock became issuable to the Reporting Person on December 16, 2025 and is adjusted for dividends.

	/s/ James W. Quinn	12/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider share transactions were reported for Argan Inc. (AGX) director James W. Quinn?

The report shows that James W. Quinn, a director of Argan Inc., acquired common shares upon vesting of Time-Based Restricted Stock Units. He acquired 856 shares on December 14, 2025 and 1,844 shares on December 16, 2025, each at an exercise price of $0.

How many Argan Inc. (AGX) shares does James W. Quinn own after these transactions?

After the reported transactions, James W. Quinn directly owns 7,278 shares of Argan Inc. common stock. He also reports indirect ownership of 43,992 shares held by the James W. Quinn 2025 GRAT No.1.

What Time-Based Restricted Stock Units were involved in the Argan Inc. (AGX) director’s transactions?

The disclosure states that the transactions relate to Time-Based Restricted Stock Units (TRSUs) awarded on December 14, 2023 and December 16, 2022. Under their three-year vesting schedules, 833 shares became issuable on December 14, 2025 and 1,750 shares became issuable on December 16, 2025, each adjusted for dividends.

What derivative securities holdings does James W. Quinn report for Argan Inc. (AGX)?

Following the reported transactions, James W. Quinn reports holdings of 3,114 Time-Based Restricted Stock Units related to the December 14, 2023 award and 1,364 Time-Based Restricted Stock Units related to the December 16, 2022 award.

At what price were the Argan Inc. (AGX) shares from the vested units acquired?

The common shares received upon vesting of the Time-Based Restricted Stock Units on December 14, 2025 and December 16, 2025 were acquired at an exercise price of $0 per share.

What is the relationship of the reporting person to Argan Inc. (AGX)?

The reporting person, James W. Quinn, is identified as a Director of Argan Inc. on the report, and the filing is made by one reporting person.