QUINN JAMES W 4

What Happened James W. Quinn, a director of ARGAN, reported derivative activity on June 10, 2026. The Form 4 shows (1) 533 shares acquired via exercise/conversion of a derivative at $0, (2) a related entry of 530 shares marked as disposed at $0 that the filing ties to a prior TRSU vesting, and (3) a new grant of 189 Time‑Based Restricted Stock Units (TRSUs) at $0. All reported transactions show $0 purchase price (no cash changed hands on the Form 4 entries).

Key Details

• Transaction date: June 10, 2026; Form filed June 12, 2026 (timely filing).
• Reported entries: M (exercise/conversion) — 533 shares acquired @ $0; M — 530 shares disposed @ $0 (derivative); A (award/grant) — 189 TRSUs @ $0.
• Footnote F1: The 530 shares became issuable under a TRSU awarded June 17, 2025 and vested on June 10, 2026 (adjusted for dividends).
• Footnote F2: The 189 TRSUs were newly granted on June 10, 2026 and will vest June 10, 2027 (or at the 2027 annual meeting, whichever is earlier).
• Total cash value reported for these entries: $0.
• Shares owned after the transactions: not specified in the provided filing excerpt.

Context

• TRSU = Time‑Based Restricted Stock Unit. The filing indicates vesting and a new restricted grant rather than an open‑market purchase or sale. For derivative entries, “exercise/conversion” here reflects issuance/vesting mechanics rather than a market trade.
• These entries do not, by themselves, indicate buying or selling in the open market; they document vesting/conversion and a new award.