Terrance C. trebilcock - Apr 16, 2022 Form 4 Insider Report for ARGAN INC (AGX)

Role: PRESIDENT, GEMMA POWER SYS.
Signature: /s/ Terrance C. Trebilcock
Stock symbol: AGX
Transactions as of: Apr 16, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/19/2022, 04:15 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	AGX	Common Stock	Options Exercise	$0	+1.71K		$0.00	1.71K	Apr 16, 2022	Direct	F1

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	Time-Based Restricted Stock Unit	Options Exercise	$0	-1.71K	-33.84%	$0.00	3.33K	Apr 16, 2022	Common Stock	1.71K	$0.00	Direct	F2

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

Explanation of Responses:

Id	Content
F1	On April 16, 2022, the Reporting Person had Time-Based Restricted Stock Units (the "TBRSUs") vest in the amount of 1,705 shares of the Issuer's Common Stock. This issuance is pursuant to the three year vesting schedule of the 5,000 TBRSU award that was granted on April 16, 2021 and is adjusted for cash dividends.
F2	As of the date of this filing, the remaining number of TBRSUs beneficially owned by the Reporting Person includes 3,334 shares of TBRSUs granted on April 12, 2021. The shares vest according to the three year vesting schedule mentioned in footnote 1 above.