<SEC-DOCUMENT>0001415889-24-011141.txt : 20240418
<SEC-HEADER>0001415889-24-011141.hdr.sgml : 20240418
<ACCEPTANCE-DATETIME>20240418174041
ACCESSION NUMBER:		0001415889-24-011141
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240416
FILED AS OF DATE:		20240418
DATE AS OF CHANGE:		20240418

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Watson David Hibbert
		CENTRAL INDEX KEY:			0001482442
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31756
		FILM NUMBER:		24855180

	MAIL ADDRESS:	
		STREET 1:		C/O ARGAN, INC.
		STREET 2:		ONE CHURCH STREET, SUITE 201
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ARGAN INC
		CENTRAL INDEX KEY:			0000100591
		STANDARD INDUSTRIAL CLASSIFICATION:	CONSTRUCTION SPECIAL TRADE CONTRACTORS [1700]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				131947195
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0131

	BUSINESS ADDRESS:	
		STREET 1:		ONE CHURCH STREET SUITE 201
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		301 315-0027

	MAIL ADDRESS:	
		STREET 1:		ONE CHURCH STREET SUITE 201
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUROFLOW INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ULTRA DYNAMICS CORP
		DATE OF NAME CHANGE:	19830522
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-04182024_090435.xml
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        <issuerTradingSymbol>AGX</issuerTradingSymbol>
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            <rptOwnerState>MD</rptOwnerState>
            <rptOwnerZipCode>20850</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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            <isTenPercentOwner>false</isTenPercentOwner>
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            <officerTitle>PRESIDENT AND CEO</officerTitle>
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                    <value>21334</value>
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    <footnotes>
        <footnote id="F1">Pursuant to the three-year vesting schedule of the Time-Based Restricted Stock Unit (&quot;TRSU&quot;) awarded to the Reporting Person on April 16, 2021, 3,334 shares of Common Stock became issuable to the Reporting Person on April 16, 2024.</footnote>
        <footnote id="F2">Pursuant to the three-year vesting schedule of the TRSU awarded to the Reporting Person on April 17, 2023, 4,000 shares of Common Stock became issuable to the Reporting Person on April 17, 2024.</footnote>
        <footnote id="F3">On April 17, 2024, the Reporting Person exercised his option awarded on June 23, 2016 to purchase 30,000 shares of the Issuer's common stock at a price of $41.68 per share.</footnote>
        <footnote id="F4">Pursuant to the three-year vesting schedule of the TRSU awarded to the reporting person on April 18, 2022, 3,333 shares of the Common Stock became issuable to the Reporting Person on April 18, 2024.</footnote>
        <footnote id="F5">On April 16, 2024 the Reporting Person received 10-year options to purchase 3,000 shares of the Issuer's common stock with an exercise price of $61.22 per share. The options will vest ratably over three years on each anniversary of the grant date starting on 4/16/2025.</footnote>
        <footnote id="F6">On April 16, 2024, the Reporting Person was granted Performance-Based Restricted Stock Units (the &quot;PBRSUs&quot;) in the target number of 4,000 shares (the &quot;Target&quot;), the vesting of which is subject to the rank of the Total Stock Return (&quot;TSR&quot;) of the Issuer's common stock over a three-year period, as determined by the Issuer's Board of Directors, to the comparable TSRs of 12 peer public companies to be disclosed in the Issuer's 2024 Proxy Statement. Each PBRSU represents a contingent right to receive one share of the Issuer's common stock. The payout ratio of the Target, ranging from 0% to 200%, will depend on the degree of achievement of the TSR ranking. The determination of the number of shares of common stock to be issued shall occur at the end of the three-year performance period.</footnote>
        <footnote id="F7">PBRSUs awarded on 4/16/2021 were forfeited due to failure to achieve the required TSR ranking.</footnote>
        <footnote id="F8">On April 16, 2024 the Reporting Person was granted TRSUs covering 10,000 shares of common stock. The TRSUs will vest in equal installments on each of the next three anniversaries of the grant date starting on 4/16/2025.</footnote>
        <footnote id="F9">On April 16, 2024, the Reporting Person was granted Earnings Per Share Performance-Based Restricted Stock Units (&quot;EPSRSUs&quot;) in the target number of 8,000 shares, the vesting of which is subject to the sum of Earnings Per Share (&quot;EPS&quot;) for fiscal years ending January 31, 2025, 2026 and 2027 compared to target compounded growth EPS amounts based on the sum of EPS for the fiscal years ended January 31, 2022, 2023 and 2024. The pay-out ratio of the Target, ranging from 0% to 200%, will depend on the degree of achievement of the EPS ranking at the end of the three-year performance period.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ David H. Watson</signatureName>
        <signatureDate>2024-04-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
