Argan director reports stock sales and share gift

Argan Inc. director William F. Leimkuhler reported several transactions in the company’s common stock on December 23, 2025.

Rhea-AI Filing Summary

Argan Inc. director William F. Leimkuhler reported several transactions in the company’s common stock on December 23, 2025. As trustee of the Emily K. Leimkuhler Trust, he sold 100 shares at $337.01 per share in an open-market trade. As trustee of the Elizabeth K. Leimkuhler Trust, he sold another 100 shares at $337.93 per share.

On the same date, he also made a bona fide gift of 500 shares of Argan common stock. After these transactions, the filing shows 900 shares held indirectly for each of the two trusts and 41,034 shares held directly.

Insider Trade Summary

Net Seller: 200 shares

Net Sell 3 txns

Insider Leimkuhler William F.

Role Director

Sold 200 shs ($67K)

Type	Security	Shares	Price	Value
Sale	Common Stock	100	$337.01	$34K
Sale	Common Stock	100	$337.93	$34K
Gift	Common Stock	500	$0.00	$0.00

Holdings After Transaction: Common Stock — 900 shares (Indirect, Self as Trustee for Emily K Leimkuhler Trust); Common Stock — 900 shares (Indirect, Self as Trustee for Elizabeth K Leimkuhler Trust); Common Stock — 41,034 shares (Direct)

Footnotes (3)

1. F1. On December 23, 2025, the Emily K. Leimkuhler Trust, of which the Reporting Person serves as Trustee, sold 100 shares of the Issuer's common stock at a price of $337.01 per share in an open market transaction.
2. F2. On December 23, 2025, the Elizabeth K. Leimkuhler Trust, of which the Reporting Person serves as Trustee, sold 100 shares of the Issuer's common stock at a price of $337.93 per share in an open market transaction.
3. F3. On December 23, 2025, the Reporting Person made a bona fide gift of 500 shares of the Issuer's common stock.

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Accepted by SEC EDGAR 12/29/2025 - 05:00 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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)
12/23/2025

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	12/23/2025		S		100(1)	D	$337.01	900	I	Self as Trustee for Emily K Leimkuhler Trust
Common Stock	12/23/2025		S		100(2)	D	$337.93	900	I	Self as Trustee for Elizabeth K Leimkuhler Trust
Common Stock	12/23/2025		G		500(3)	D	$0	41,034	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

Explanation of Responses:

1. On December 23, 2025, the Emily K. Leimkuhler Trust, of which the Reporting Person serves as Trustee, sold 100 shares of the Issuer's common stock at a price of $337.01 per share in an open market transaction.

2. On December 23, 2025, the Elizabeth K. Leimkuhler Trust, of which the Reporting Person serves as Trustee, sold 100 shares of the Issuer's common stock at a price of $337.93 per share in an open market transaction.

3. On December 23, 2025, the Reporting Person made a bona fide gift of 500 shares of the Issuer's common stock.

	/s/ William F. Leimkuhler	12/29/2025
	** 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.