[Form 4] ARGAN INC Insider Trading Activity

Rhea-AI Filing Summary

ARGAN, Inc. (AGX) Form 4: The reporting person, John R. Jeffrey, Jr., sold 4,698 shares of ARGAN common stock on 09/29/2025 at an average price of $268.60 per share on the open market. After the sale he beneficially owns 4,556 shares directly and 8,000 shares indirectly through an IRA. The sale is reported on Form 4 and signed on 10/01/2025. The filing identifies Mr. Jeffrey as a director of the issuer and indicates the transaction was an open-market disposition.

Positive

• Timely and specific disclosure of transaction date, share amount, and average sale price
• Clear separation of direct and indirect ownership (4,556 direct; 8,000 indirect via IRA)

Negative

• Director sold shares (4,698 shares), which may be interpreted negatively by some investors
• No context provided for the sale (e.g., personal reasons or pre-arranged plan) within this filing

Insights

Securities Analyst

TL;DR: Routine open-market sale by a director; transaction disclosed promptly with specific share count and price.

This Form 4 shows a single open-market disposition of 4,698 shares at an average price of $268.60 on 09/29/2025 by Director John R. Jeffrey, Jr. Post-transaction holdings are clearly stated as 4,556 shares owned directly and 8,000 indirectly via an IRA. The filing supplies the essential details investors and regulators expect: date, amount, price, and ownership form. The size of the sale relative to total outstanding shares is not provided in this filing, so material impact cannot be assessed from this document alone.

Corporate Governance Expert

TL;DR: Disclosure is complete for a Section 16 transaction; sale is a director exit of a modest position.

The Form 4 correctly identifies the reporting person as a director and records an open-market sale with signature and dates. The report distinguishes direct and indirect holdings, noting an IRA-held position of 8,000 shares. From a governance perspective, timely reporting and clarity on ownership form meet compliance expectations. The filing contains no information about the reasons for the sale or any related agreements, and those details are not included in this document.

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

OMB APPROVAL

OMB Number:			3235-0287
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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).

1. Name and Address of Reporting Person^*

Jeffrey John Ronald Jr.

(Last) (First) (Middle)

C/O ARGAN, INC.

4075 WILSON BOULEVARD, SUITE 440

(Street)

ARLINGTON VA 22203

(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)
09/29/2025

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	09/29/2025		S		4,698(1)	D	$268.6	4,556	D
Common Stock								8,000	I	John R. Jeffrey, IRA

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

Explanation of Responses:

1. On September 29, 2025, the Reporting Person sold 4,698 shares of the Issuer's common stock on the open market at an average price of $268.60 per share.

	/s/ John R. Jeffrey, Jr.	10/01/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did AGX director John R. Jeffrey, Jr. sell and when?

He sold 4,698 shares of ARGAN common stock on 09/29/2025 at an average price of $268.60 per share.

How many ARGAN shares does John R. Jeffrey, Jr. own after the transaction?

After the reported sale he beneficially owns 4,556 shares directly and 8,000 shares indirectly through an IRA.

What is the reporting person's relationship to AGX?

The Form 4 lists John R. Jeffrey, Jr. as a director of ARGAN, Inc.

Was the sale part of an open-market transaction or a private transfer?

The explanation states the sale was executed on the open market.

When was the Form 4 signed and filed?

The signature on the Form 4 is dated 10/01/2025.