[Form 4] Argan, Inc Insider Trading Activity

Rhea-AI Filing Summary

GMS Inc. (GMS) Form 4 details routine equity activity by SVP & General Counsel Craig D. Apolinsky on 1 Aug 2025.

Common stock: Three RSU tranches converted into 4,119 shares (code “M”); 1,836 shares were withheld for taxes (code “F”), producing a net gain of 2,283 shares. Direct ownership now stands at 15,966 shares.

Derivative securities: After vesting, 3,294 RSUs from prior awards remain outstanding. The executive also received 6,250 new RSUs that vest in equal parts on 1 Aug 2026-2028, lifting total unvested RSUs to 9,544 units.

All transactions were automatic under the company’s equity plans; no open-market buying or discretionary selling occurred. The filing contains no financial metrics or guidance and is unlikely to be materially market-moving.

Insights

Securities Analyst

TL;DR: Routine vesting, tax withholding and new RSU grant; neutral signal for GMS shareholders.

The report shows standard executive compensation mechanics. Apolinsky’s net share increase strengthens alignment but is immaterial versus GMS’s ~40 m share float. The 6,250-unit RSU grant extends retention through 2028 and ties value creation to stock performance. No cash purchases were made, tempering any positive insider-confidence interpretation. Given the absence of sales beyond tax withholding and no significant change in overall insider ownership percentages, I classify the impact as neutral for investors.

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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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^*

Griffin William F Jr

(Last) (First) (Middle)

(Street)

GLASTONBURY CT 06033

(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)	X	Other (specify below)
			GEMMA, NON-EXECUTIVE CHAIRMAN

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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	08/05/2025		J		80,000(1)	D	$0	0	I	William F. Griffin 2025 GRAT Trust
Common Stock	08/05/2025		J		80,000(1)	A	$0	135,976	I	By William F Griffin Jr Revocable Trust U/A DTD FBO 12/09/04

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 August 5, 2025, the Reporting Person transferred 80,0000 shares from the William F. Griffin 2025 GRAT Trust to the William F Griffin Jr Revocable Trust.

	/s/ William F. Griffin, Jr.	08/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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