W. G. Champion Mitchell - Dec 14, 2021 Form 4 Insider Report for ARGAN INC (AGX)

Role: Director
Signature: /s/ William G. Champion Mitchell
Stock symbol: AGX
Transactions as of: Dec 14, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/21/2021, 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						13.3K	Dec 14, 2021	MITENCO LLC
holding	AGX	Common Stock						7.5K	Dec 14, 2021	MMAB LLC

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	+10.71%	$0.00	51.7K	Dec 14, 2021	Common Stock	5K	$37.13	Direct	F1, F2, F3
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	F4

* 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 $71.75 per share with initial Date Exercisable of 1/5/2018 and Expiration Date of 1/5/2027; (b) 6,667 shares of common stock at a price of $46.35 per share with initial Date Exercisable of 1/11/2019 and Expiration Date of 1/11/2028; (c) 10,000 shares of common stock at a price of $41.19 per share with initial Date Exercisable on 12/12/2019 and Expiration Date of 12/12/2028; (d) 10,000 shares of common stock at a price of $40.15 per share with an initial Date Exercisable of 12/23/2020 and Expiration Date of 12/23/2029; (e) 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
F3	(i) 5,000 shares of common stock at a price of $37.13 per share with initial Date Exercisable of 12/14/2022 and Expiration Date of 12/14/2031. All stock options are subject to the aforementioned three-year ratable vesting schedule except those awarded prior to January 2018 which vested fully on the first anniversary of the date of award.
F4	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.