Mano S. Koilpillai - Dec 14, 2021 Form 4 Insider Report for ARGAN INC (AGX)

Role: Director
Signature: /s/ Mano S. Koilpillai
Stock symbol: AGX
Transactions as of: Dec 14, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/16/2021, 03:15 PM
Next filing: Dec 20, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	AGX	Common Stock						180	Dec 14, 2021	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	AGX	Option to Purchase Common Stock	Award	$0	+5K	+18.75%	$0.00	31.7K	Dec 14, 2021	Common Stock	5K	$37.13	Direct	F1, F2
transaction	AGX	Time-Based Restricted Stock Units	Award	$0	+1.75K		$0.00	1.75K	Dec 14, 2021	Common Stock	1.75K	$0.00	Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On December 14, 2021, the Reporting Person received 10-year options to purchase 5,000 shares of the Issuer's Common Stock at an exercise price of $37.13 per share. The options will vest ratably over three years on each anniversary of the grant date beginning on 12/14/2022.
F2	As of the date of this filing, the Reporting Person owns options to purchase (a) 10,000 shares of common stock at a price of $42.31 per share with initial Date Exercisable of 9/10/2020 and Expiration Date of 9/10/2029; (b) 6,667 shares of common stock at a price of $40.15 per share with initial Date Exercisable of 12/23/2020 and Expiration Date of 12/23/2029; (c) 10,000 shares of common stock at a price of $45.75 per share with initial Date Exercisable of 12/14/2021 and Expiration Date of 12/14/2030; and (d) 5,000 shares of common stock at a price of $37.13 per share with an initial Date Exercisable of 12/14/2022 and Expiration Date of 12/14/2031; all of which vest ratably over three years on the anniversary of each grant date.
F3	On December 14, 2021, the Reporting Person was granted Time-Based Restricted Stock Units (the "TBRSUs") covering 1,750 shares of common stock. The TBRSUs will vest in their entirety on the third anniversary of the grant date on 12/14/2024.