Baugher Joshua Scott 4

What Happened

• Joshua Scott Baugher, Chief Financial Officer of ARGAN, was the recipient of multiple equity awards reported on 2026-04-08: a 10‑year option for 208 shares (exercise price $588.28), 126 time‑based restricted stock units (TRSUs), 142 performance‑based RSUs (PRSUs), and 1,670 EPS performance RSUs (EPSRSUs). The filing shows these as awards (code A) with a reported acquisition price of $0.00 (typical for grants).

Key Details

• Transaction date: April 8, 2026 (filed April 10, 2026).
• Option: 208‑share option, exercise price $588.28/share; vests ratably over three years starting 4/8/2027; 10‑year term (F1).
• TRSUs: 126 shares, vest in equal installments on each of the next three anniversaries beginning 4/8/2027 (F2).
• PRSUs: 142 target shares; payout 0%–200% based on ARGAN’s three‑year Total Stock Return ranking vs. 12 peers; final payout determined at end of the performance period (F3).
• EPSRSUs: 1,670 target shares (per footnote F4, originally granted April 8, 2025); payout 0%–200% based on cumulative EPS performance over a three‑year period (F4).
• Total target shares across awards: 2,146 (208 + 126 + 142 + 1,670).
• Shares owned after transaction: not disclosed in the Form 4 provided.
• Filing timeliness: Filed two days after the transactions (April 10 for April 8 transactions); the filing does not indicate a late report.

Context

• These are grants, not open‑market purchases or sales — they do not represent immediate buying or selling of stock by the insider. The option grant gives the right to buy shares at $588.28 subject to vesting; the TRSUs are time‑based RSUs and the PRSUs/EPSRSUs are performance‑based and may pay out between 0% and 200% of target depending on performance at the end of the respective performance periods. Such awards are compensation, commonly used to align executives with long‑term company performance.