# EDGAR Filing Document

**Accession Number:** 0001482442
**File Stem:** 0001415889-25-016659
**Filing Date:** 2025-6
**Character Count:** 7542
**Document Hash:** 3e8a1327253252e35ced150977245e51
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001415889-25-016659.hdr.sgml**: 20250611

**ACCESSION NUMBER**: 0001415889-25-016659

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250609

**FILED AS OF DATE**: 20250611

**DATE AS OF CHANGE**: 20250611

**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:** 251040176

**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
- **EIN:** 131947195
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0131

**BUSINESS ADDRESS:**
- **STREET 1:** 4075 WILSON BOULEVARD SUITE 440
- **CITY:** ARLINGTON
- **STATE:** VA
- **ZIP:** 22203
- **BUSINESS PHONE:** 301 315-0027

**MAIL ADDRESS:**
- **STREET 1:** 4075 WILSON BOULEVARD SUITE 440
- **CITY:** ARLINGTON
- **STATE:** VA
- **ZIP:** 22203

**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

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Watson David Hibbert<br><sub>(Last) (First) (Middle)</sub><br>4075 WILSON BOULEVARD<br>SUITE 440<br><sub>(Street)</sub><br>ARLINGTON, VA 22203<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-06-09 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_PRESIDENT AND CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ARGAN INC [ AGX ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-06-09 |  | M |  | 1553<sup>(1)</sup> | A | $36.78 | 70189 | D |  |
| Common Stock | 2025-06-09 |  | M |  | 1533<sup>(2)</sup> | A | $39.47 | 71722 | D |  |
| Common Stock | 2025-06-09 |  | M |  | 410<sup>(3)</sup> | A | $61.22 | 72132 | D |  |
| Common Stock | 2025-06-09 |  | S |  | 2031<sup>(4)</sup> | D | $230.38 | 70101 | D |  |
| Common Stock | 2025-06-11 |  | S |  | 17969<sup>(5)</sup> | D | $211.02 | 52132 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Option to Purchase Common Stock | $36.78 | 2025-06-09 |  | M |  |  | 3334<sup>(1)</sup> | 2023-04-18 | 2032-04-18 | Common Stock | 3334 | $36.78 | 10000 | D |  |
| Option to Purchase Common Stock | $39.47 | 2025-06-09 |  | M |  |  | 3334<sup>(2)</sup> | 2024-04-17 | 2033-04-17 | Common Stock | 3334 | $39.47 | 6666 | D |  |
| Option to Purchase Common Stock | $61.22 | 2025-06-09 |  | M |  |  | 1000<sup>(3)</sup> | 2025-04-16 | 2034-04-16 | Common Stock | 1000 | $61.22 | 5666 | D |  |

---

### Footnotes:

(1) On June 9, 2025 the Reporting Person exercised the remaining portion of his stock option awarded on April 18, 2022 to purchase 3,334 shares of the Issuer's common stock at a price of $36.78 per share, using the net settle method.

(2) On June 9, 2025, the Reporting Person exercised a portion of his stock option awarded on April 17, 2023 to purchase 3,334 shares of the Issuer's common stock at a price of $39.47 per share, using the net settle method.

(3) On June 9, 2025, the Reporting Portion exercised a portion of his stock option awarded on April 16, 2024 to purchase 1,000 shares of the Issuer's common stock at a price of $61.22 per share, using the net settle method.

(4) On June 9, 2025, the Reporting Person sold 2,031 shares of the Issuer's common stock on the open market at an average price of $230.38 per share.

(5) On June 11, 2025, the Reporting Person sold 17,969 shares of the Issuer's common stock on the open market at an average price of $211.02 per share.

**Signature:** /s/ David H. Watson  
**Date:** 2025-06-11

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**