Argan Inc (AGX) director reports vesting of stock unit awards

Rhea-AI Filing Summary

Argan Inc. director William F. Leimkuhler reported stock awards vesting that increased his direct ownership of the company’s common shares. On December 14, 2025, 856 shares of common stock were acquired at $0 per share following the vesting of time-based restricted stock units awarded earlier. On December 16, 2025, a further 1,844 shares were acquired at $0 per share from another time-based restricted stock unit award.

After these transactions, Leimkuhler directly beneficially owned 41,534 shares of Argan Inc. common stock. He also continues to hold time-based restricted stock units, with 3,114 units remaining from the 2023 award and 1,364 units remaining from the 2022 award.

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^*

Leimkuhler William F.

(Last) (First) (Middle)

43 SALEM STRAITS ROAD

(Street)

DARIEN CT 06820

(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	39,690	D
Common Stock	12/16/2025		M		1,844(2)	A	$0	41,534	D

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/ William F. Leimkuhler	12/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transactions did Argan Inc (AGX) disclose in this Form 4?

The Form 4 reports that director William F. Leimkuhler acquired 856 shares of Argan Inc. common stock on December 14, 2025 and 1,844 shares on December 16, 2025, both at $0 per share, following the vesting of time-based restricted stock units.

Who is the reporting person in the Argan Inc (AGX) Form 4 and what is their role?

The reporting person is William F. Leimkuhler, who is identified as a Director of Argan Inc. He filed the Form 4 as a single reporting person.

How many Argan Inc (AGX) shares does the director own after these transactions?

Following the reported transactions, William F. Leimkuhler directly beneficially owned 41,534 shares of Argan Inc. common stock.

What equity awards vested for the Argan Inc (AGX) director according to the Form 4?

The explanations state that, under three-year vesting schedules for time-based restricted stock units awarded on December 14, 2023 and December 16, 2022, 833 and 1,750 shares of common stock, respectively, became issuable on December 14, 2025 and December 16, 2025, and these amounts were adjusted for dividends.

How many time-based restricted stock units does the Argan Inc (AGX) director still hold?

After the vesting events, the director held 3,114 remaining time-based restricted stock units from the 2023 award and 1,364 remaining units from the 2022 award.

Does this Argan Inc (AGX) Form 4 report any sales of common stock?

No. The reported transactions show acquisitions of common stock at $0 per share related to the vesting of time-based restricted stock units; no sales are listed.