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ARGAN INC·4

Apr 10, 4:30 PM ET

Watson David Hibbert 4

4 · ARGAN INC · Filed Apr 10, 2026

Research Summary

AI-generated summary of this filing

Updated

ARGAN (AGX) CEO David Hibbert Receives Equity Awards

What Happened

  • David Hibbert, President, CEO and Director of ARGAN, reported grant awards on 2026-04-08: a 10‑year option for 415 shares (exercise price $588.28), 251 time‑based RSUs (TRSUs), 284 performance RSUs (PRSUs, target), and 3,339 EPS performance RSUs (EPSRSUs, target). These are awards/grants (code A) — not open‑market purchases or sales.

Key Details

  • Transaction date: April 8, 2026; Form 4 filed April 10, 2026 (timely).
  • Grants: 415 stock options (10‑year term, $588.28 strike; full cash to exercise all = ~$244,136), 251 TRSUs, 284 PRSUs (target), 3,339 EPSRSUs (target). Total target shares = 4,289.
  • Vesting/condition highlights:
    • Options (F1): Vest ratably over 3 years, starting 4/8/2027.
    • TRSUs (F2): Vest in equal installments on each of the next 3 anniversaries starting 4/8/2027.
    • PRSUs (F3): 3‑year TSR performance period vs. 12 peers; payout 0%–200% of 284 target shares; final payout determined at period end.
    • EPSRSUs (F4): Payout tied to summed EPS for fiscal years ending 1/31/2027–2029 vs. baseline; payout 0%–200% of 3,339 target shares at period end.
  • Shares owned after transaction: not specified in the provided filing summary.
  • Filing timeliness: filed within the normal Form 4 window; not flagged late.

Context

  • These were grants for compensation and incentive purposes, not immediate purchases or sales. Options are not exercised; TRSUs and performance RSUs will only convert to stock if and as they vest (time‑based) or performance targets are met (performance‑based). Performance awards can result in 0%–200% payout of the target award depending on results.

Insider Transaction Report

Form 4
Period: 2026-04-08
ARGAN INCAGX
Watson David Hibbert
DirectorPRESIDENT AND CEO
Transactions
  • Award

    Option to Purchase Common Stock

    [F1]
    2026-04-08+415→ 6,081 total
    Exercise: $588.28From: 2027-04-08Exp: 2036-04-08→ Common Stock (415 underlying)
  • Award

    Time-Based Restricted Stock Units

    [F2]
    2026-04-08+251→ 14,918 total
    Exercise: $0.00→ Common Stock (251 underlying)
  • Award

    Performance-Based Restricted Stock Units

    [F3]
    2026-04-08+284→ 12,284 total
    Exercise: $0.00→ Common Stock (284 underlying)
  • Award

    Earnings Per Share Performance-Based Restricted Stock Units

    [F4]
    2026-04-08+3,339→ 28,839 total
    Exercise: $0.00→ Common Stock (3,339 underlying)
Footnotes (4)
  • [F1]On April 8, 2026, the Reporting Person received 10-year options to purchase 415 shares of the Issuer's common stock with an exercise price of $588.28 per share. The options will vest ratably over three years on each anniversary of the grant date starting on 4/8/2027.
  • [F2]On April 8, 2026, the Reporting Person was granted Time-Based Restricted Stock Units ("TRSUs") covering 251 shares of common stock. The TRSUs will vest in equal installments on each of the next three anniversaries of the grant date starting on 4/8/2027.
  • [F3]On April 8, 2026, the Reporting Person was granted Performance-Based Restricted Stock Units ("PRSUs") in the target number of 284 shares, the vesting of which is subject to the rank 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, to the comparable TSRs of 12 peer public companies to be disclosed in the Issuer's 2026 Proxy Statement. Each PRSU represents a contingent right to receive one share of the Issuer's common stock. The payout ratio of the target number of 284 shares, ranging from 0% to 200%, will depend on the degree of achievement of the TSR ranking. The determination of the number of shares of common stock to be issued shall occur at the end of the three-year performance period.
  • [F4]On April 8, 2026, the Reporting Person was granted Earnings Per Share Performance-Based Restricted Stock Units ("EPSRSUs") in the target number of 3,339 shares, the vesting of which is subject to the sum of Earnings Per Share ("EPS") for fiscal years ending January 31, 2027, 2028 and 2029 compared to target compounded growth EPS amounts based on the sum of EPS for the fiscal years ended January 31, 2024, 2025 and 2026. The pay-out ratio of the target number of 3,339 shares, ranging from 0% to 200%, will depend on the degree of achievement of the EPS ranking at the end of the three-year performance period.
Signature
/s/ David H. Watson|2026-04-10

Documents

1 file
  • 4
    form4-04102026_040405.xmlPrimary