Director at Argan (AGX) gains 700 common shares through TRSU vesting

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

ARGAN INC director Lisa Larroque Alexander reported routine equity compensation activity. On April 16, 2026, 695 Time-Based Restricted Stock Units vested and were converted into 695 shares of common stock, consistent with a one-year vesting schedule for TRSUs granted on April 16, 2025.

Following these transactions, she directly holds 700 shares of common stock and 530 Time-Based Restricted Stock Units. These entries reflect compensation-related derivative exercises rather than open-market buying or selling.

Insider Trade Summary

695 shares exercised/converted

Mixed 2 txns

Insider Larroque Alexander Lisa

Role null

Type	Security	Shares	Price	Value
Exercise	Time-Based Restricted Stock Units	695	$0.00	--
Exercise	Common Stock	700	$0.00	--

Holdings After Transaction: Time-Based Restricted Stock Units — 530 shares (Direct, null); Common Stock — 700 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

Common shares acquired: 700 shares TRSUs converted: 695 units TRSUs remaining: 530 units +1 more

4 metrics

Common shares acquired 700 shares Common Stock transaction on April 16, 2026; direct holdings after transaction

TRSUs converted 695 units Time-Based Restricted Stock Units vested and became issuable as common stock on April 16, 2026

TRSUs remaining 530 units Time-Based Restricted Stock Units held after the derivative transaction

Derivative exercises 695 shares exerciseShares reported in transaction summary for derivative exercises

Key Terms

Time-Based Restricted Stock Units, TRSUs, vesting schedule, derivative security

4 terms

Time-Based Restricted Stock Units financial

"Pursuant to the one-year vesting schedule of the Time-Based Restricted Stock Units"

Time-based restricted stock units are a form of employee compensation where individuals are granted company shares that are earned over a set period, often as a reward for staying with the company. These shares typically become fully owned and transferable only after passing specific time milestones, encouraging long-term commitment. For investors, they highlight a company's focus on employee retention and can influence future stock supply and company stability.

TRSUs financial

"Time-Based Restricted Stock Units ("TRSUs") awarded to the Reporting Person on April 16, 2025"

vesting schedule financial

"Pursuant to the one-year vesting schedule of the Time-Based Restricted Stock Units"

A vesting schedule is a timeline that determines when someone gains full ownership of certain benefits, such as company stock or retirement contributions. Think of it like earning the right to own a gift gradually over time, rather than receiving it all at once. It matters to investors because it affects when they can fully access or sell these benefits, influencing their financial planning and decision-making.

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Form 4 Insider Transactions: What Each Field Means →

04/20/2026 - 05:00 PM

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^*

Larroque Alexander Lisa

(Last)

(First)

(Middle)

488 8TH AVENUE

(Street)

SAN DIEGO

CALIFORNIA

92101

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/16/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/16/2026		M		700⁽¹⁾	A	$0	700	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Time-Based Restricted Stock Units	$0	04/16/2026		M			695	⁽¹⁾	⁽¹⁾	Common Stock	695	$0	530	D

Explanation of Responses:

1. Pursuant to the one-year vesting schedule of the Time-Based Restricted Stock Units ("TRSUs") awarded to the Reporting Person on April 16, 2025, 695 shares of common stock became issuable to the Reporting Person on April 16, 2026 and is adjusted for dividends.

	/s/ Lisa Larroque	04/20/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did ARGAN INC (AGX) disclose for Lisa Larroque Alexander?

ARGAN INC reported that director Lisa Larroque Alexander had 695 Time-Based Restricted Stock Units vest and convert into 695 shares of common stock. These compensation-related transactions occurred on April 16, 2026 and did not involve any open-market buying or selling activity.

How many ARGAN INC (AGX) common shares does the director hold after this Form 4?

After the reported transactions, the director directly holds 700 shares of ARGAN INC common stock. This reflects the issuance of shares upon vesting of Time-Based Restricted Stock Units and represents her direct ownership position following the April 16, 2026 equity compensation events.

What happened to the 695 Time-Based Restricted Stock Units for ARGAN INC (AGX)?

The 695 Time-Based Restricted Stock Units vested and became issuable as 695 shares of ARGAN INC common stock on April 16, 2026. The vesting followed a one-year schedule tied to TRSUs originally awarded on April 16, 2025 and adjusted for dividends over that period.

How many Time-Based Restricted Stock Units remain for the ARGAN INC (AGX) director?

Following the April 16, 2026 vesting event, the director holds 530 Time-Based Restricted Stock Units. These remaining derivative securities are in addition to her 700 directly held common shares and represent unvested equity awards that did not convert into common stock in this transaction.

Was the ARGAN INC (AGX) Form 4 a market purchase or sale of shares?

The Form 4 reflects derivative exercises from equity awards, not open-market purchases or sales. The transactions are coded as exercises of derivative securities, where vested Time-Based Restricted Stock Units converted into common stock as part of the director’s compensation program.

What vesting schedule applied to the ARGAN INC (AGX) TRSUs in this filing?

The Time-Based Restricted Stock Units were subject to a one-year vesting schedule. TRSUs awarded to the director on April 16, 2025 became issuable as 695 shares of common stock on April 16, 2026, with the number of shares adjusted for dividends during that vesting period.