Rainer H. Bosselmann - Apr 12, 2022 Form 4 Insider Report for ARGAN INC (AGX)

Role
CHAIRMAN & CEO
Signature
/s/ Rainer H. Bosselmann
Stock symbol
AGX
Transactions as of
Apr 12, 2022
Transactions value $
$0
Form type
4
Date filed
4/14/2022, 04:15 PM
Next filing
Apr 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction AGX Common Stock Options Exercise $0 +11.2K +3.21% $0.00 361K Apr 12, 2022 Direct F1, F2

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 Performance-Based Restricted Stock Units Options Exercise $0 -10K -28.57% $0.00 25K Apr 12, 2022 Common Stock 10K $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 April 12, 2022, the Reporting Person had Performance-Based Restricted Stock Units (the "PBRSUs") vest in the amount of 11,231 shares of Common Stock. These PBRSUs, which were granted April 12, 2019 with a target number of 10,000 shares (the "Target"), had vesting subject to the percentile of the Total Stock Return ("TSR") of the Issuer's common stock over a three-year period, as determined by the Issuer's Board of Directors, versus the comparative TSRs of 12 peer public companies disclosed in the Issuer's 2019 Proxy Statement. Each PBRSU represents a contingent right to receive one share of the Issuer's common stock. The potential payout ratio of the Target, ranged from 0% to 200%, depending on the degree of achievement of the percentile of the TSR. The performance achievement over the measurement period resulted in the vesting of 100% of the Target plus an adjustment for cash dividends.
F2 2,241 shares are held by Rainer and Beverley Bosselmann, as joint tenants, and the remaining shares are held directly by Rainer Bosselmann.
F3 As of the date of this filing, the remaining number of PBRSUs beneficially owned by the Reporting Person includes (a) a target number of 12,500 shares of PBRSUs granted on April 16, 2020 and (b) a target number of 12,500 shares of PBRSUs granted on April 16, 2021; all to vest in their entirety at the end of a three-year performance period.