Argan (AGX) director Jeffrey exercises 10,000 options, sells 2,700 shares

Rhea-AI Filing Summary

Argan Inc. director John R. Jeffrey Jr. reported option exercises and a share sale. On January 16, 2026, he exercised an option to purchase 10,000 shares of Argan common stock at $45.75 per share using a net settle method, resulting in 8,636 shares of common stock being acquired. On January 20, 2026, he sold 2,700 shares of Argan common stock on the open market at an average price of $380.60 per share. After these transactions, he directly owned 13,192 shares of common stock and indirectly owned 8,000 shares through a John R. Jeffrey IRA, and held 11,500 stock options following the option exercise.

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^*

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)
01/20/2026

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	01/16/2026		M		8,636(1)	A	$45.75	15,892	D
Common Stock	01/20/2026		S		2,700(2)	D	$380.6	13,192	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
Option to Purchase Common Stock	$45.75	01/16/2026		M			10,000(1)	12/14/2021	12/14/2030	Common Stock	10,000	$45.75	11,500	D

Explanation of Responses:

1. On January 16, 2026, the Reporting Person exercised his stock option awarded on December 14, 2020 to purchase 10,000 shares of the Issuer's common stock at a price of $45.75 per share, using the net settle method.

2. On January 20, 2026, the Reporting Person sold 2,700 shares of the Issuer's common stock on the open market at an average price of $380.60 per share.

	/s/ John R. Jeffrey, Jr.	01/21/2026
	** 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 insider activity did AGX director John R. Jeffrey Jr. report?

He reported exercising stock options for 10,000 shares of Argan Inc. common stock at $45.75 per share on January 16, 2026, and selling 2,700 shares on January 20, 2026 at an average price of $380.60 per share.

How many AGX shares did John R. Jeffrey Jr. sell and at what price?

On January 20, 2026, he sold 2,700 shares of Argan Inc. common stock on the open market at an average price of $380.60 per share.

What stock options did the AGX director exercise in this Form 4?

On January 16, 2026, he exercised an option awarded on December 14, 2020 to purchase 10,000 shares of Argan common stock at an exercise price of $45.75 per share, using the net settle method.

How many AGX shares does John R. Jeffrey Jr. own after these transactions?

Following the reported transactions, he directly owned 13,192 shares of Argan Inc. common stock and indirectly owned 8,000 shares through a John R. Jeffrey, IRA.

What is the remaining AGX option position for the director after the exercise?

After exercising the option to purchase 10,000 shares, he held 11,500 derivative securities in the form of options to purchase Argan Inc. common stock.

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

The reporting person, John R. Jeffrey Jr., is identified as a director of Argan Inc. and is not listed as an officer or 10% owner in this Form 4.