[Form 4] Argan, Inc Insider Trading Activity

Rhea-AI Filing Summary

Form 4 overview: On 06/17/2025, Argan, Inc. (AGX) director Peter W. Getsinger reported the award of 530 Time-Based Restricted Stock Units (TRSUs) with an exercise price of $0. These derivative securities can convert into an equal number of common shares once vested.

Vesting schedule: The TRSUs will vest completely on 04/17/2026, provided the director remains in service. No non-derivative share transactions, sales, or additional purchases were disclosed.

Post-transaction holdings: Following the grant, Getsinger now beneficially owns 3,947 derivative securities tied to AGX common stock, all held directly. The filing does not indicate any change to his direct common-share ownership.

Investor relevance: The grant appears to be routine board compensation. Given the small size—530 units—the award is immaterial relative to Argan’s public float and is unlikely to influence share supply, earnings per share, or short-term insider-sentiment indicators.

Insights

Corporate Governance Expert

TL;DR: Routine RSU grant; improves alignment but immaterial and neutral to valuation.

The filing records a standard compensation event: 530 TRSUs to a non-executive director, vesting in April 2026. Such awards are common practice to align directors’ interests with shareholders. The aggregate post-grant derivative holding of 3,947 units remains de-minimis versus Argan’s outstanding shares, so dilution risk is negligible. No insider buying or selling of common shares occurred, and no performance conditions were attached, indicating this is not a signal of changed outlook. From a governance standpoint, the transaction is transparent and compliant with Section 16 reporting rules, but it carries no material financial impact.

Portfolio Manager

TL;DR: Small RSU award; neutral for AGX price action, not portfolio-moving.

For position sizing or trading decisions, the data point is inconsequential: 530 shares represent a fraction of daily volume and a trivial percentage of float. Lack of open-market purchases means there is no bullish signal from personal capital commitment. With a one-year cliff vest, shares will not hit the market until at least April 2026, limiting near-term supply effects. Consequently, the event is classified as not impactful on valuation or liquidity metrics.

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).

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^*

Getsinger Peter W

(Last) (First) (Middle)

35 SNOWS POINT

(Street)

EDGARTOWN MA 02539

(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)
06/17/2025

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

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	06/17/2025		A		530		(1)	(1)	Common Stock	530	$0	3,947	D

Explanation of Responses:

1. On June 17, 2025, the Reporting Person was granted Time-Based Restricted Stock Units ("TRSUs") covering 530 shares of the Issuer's common stock. The TRSUs will vest fully on April 17, 2026.

	/s/ Peter W. Getsinger	06/20/2025
	** 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 SEC filing did Argan, Inc. (AGX) submit on 06/20/2025?

Argan filed a Form 4 disclosing insider changes in beneficial ownership.

How many RSUs were granted to director Peter W. Getsinger?

He received 530 Time-Based Restricted Stock Units.

When will the granted RSUs vest?

The RSUs will vest in full on 04/17/2026.

Did the Form 4 report any open-market share purchases or sales?

No, no purchases or sales of common shares were reported.

What is Getsinger’s total derivative holding after the transaction?

He beneficially owns 3,947 derivative securities linked to AGX common stock.