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ARGAN INC·4

Jun 18, 5:00 PM ET

Baugher Joshua Scott 4

Research Summary

AI-generated summary

Updated

ARGAN (AGX) CFO Joshua Baugher Exercises Options, Sells Shares

What Happened

  • Joshua Scott Baugher, Chief Financial Officer of ARGAN, exercised stock options and sold shares on June 17, 2026. He exercised options at $61.22 per share (total exercise-related value shown $89,075 across lines), using a net-settle method for part of the exercise, and sold 760 shares in two open-market transactions for total proceeds of about $557,308.
  • Specifics:
    • Exercised/converted option shares: 1,000 shares were net-settled (derivative disposition shown at $61.22 = $61,220 per filing footnote) and 455 shares were exercised and acquired at $61.22 costing $27,855.
    • Open-market sales: 455 shares sold at $732.83 for $333,438; 305 shares sold at $734.00 for $223,870. Total cash proceeds from sales ≈ $557,308.

Key Details

  • Transaction date: June 17, 2026.
  • Prices and amounts:
    • Exercise/conversion: 1,000 shares (net-settled) at $61.22 (value shown $61,220).
    • Exercise/acquisition: 455 shares at $61.22 (cost $27,855).
    • Open-market sales: 455 shares @ $732.83 (proceeds $333,438); 305 shares @ $734.00 (proceeds $223,870).
  • Shares owned after the transactions: Not specified in the provided filing details.
  • Footnotes in the filing:
    • F1: The 1,000-share exercise was performed using the net-settle (cashless/net-share) method.
    • F2–F3: Confirm the two open-market sales of 455 and 305 shares.
  • Filing timeliness: Report filed June 18, 2026 for transactions on June 17, 2026 (filed the next day), which is within typical SEC Form 4 timing requirements.

Context

  • Net-settlement (cashless) exercise: part of the exercised options (1,000 shares) were surrendered/withheld to cover exercise price/taxes rather than being issued as net new shares; 455 option shares were acquired outright at $61.22 and appear to have been sold in the open market the same day.
  • For retail investors: option exercises followed by immediate open-market sales are common for executives to cover exercise costs or diversify—these are routine transactions and not an explicit statement of company outlook.