0001415889-22-004063.txt : 20220414
0001415889-22-004063.hdr.sgml : 20220414
20220414161517
ACCESSION NUMBER: 0001415889-22-004063
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220412
FILED AS OF DATE: 20220414
DATE AS OF CHANGE: 20220414
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Watson David Hibbert
CENTRAL INDEX KEY: 0001482442
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-31756
FILM NUMBER: 22827423
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]
IRS NUMBER: 131947195
STATE OF INCORPORATION: DE
FISCAL YEAR END: 0131
BUSINESS ADDRESS:
STREET 1: ONE CHURCH STREET SUITE 201
CITY: ROCKVILLE
STATE: MD
ZIP: 20850
BUSINESS PHONE: 301 315-0027
MAIL ADDRESS:
STREET 1: ONE CHURCH STREET SUITE 201
CITY: ROCKVILLE
STATE: MD
ZIP: 20850
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
4
1
form4-04142022_040401.xml
X0306
4
2022-04-12
0000100591
ARGAN INC
AGX
0001482442
Watson David Hibbert
1 CHURCH STREET
SUITE 201
ROCKVILLE
MD
20850
false
true
false
false
SVP AND CFO
Common Stock
2022-04-12
4
M
0
8984
0
A
17484
D
Performance-Based Restricted Stock Units
0
2022-04-12
4
M
0
8000
0
D
Common Stock
8000
20000
D
On April 12, 2022, the Reporting Person had Performance-Based Restricted Stock Units (the "PBRSUs") vest in the amount of 8,984 shares of Common Stock. These PBRSUs, which were granted April 12, 2019 with a target number of 8,000 shares (the "Target"), had vesting subject to the percentile 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, versus the comparative TSRs of 12 peer public companies disclosed in the Issuer's 2019 Proxy Statement. Each PBRSU represents a contingent right to receive one share of the Issuer's common stock. The potential payout ratio of the Target, ranged from 0% to 200%, depending on the degree of achievement of the percentile of the TSR. The performance achievement over the measurement period resulted in the vesting of 100% of the Target plus an adjustment for cash dividends.
Assuming the trading window opens shortly after the year end financials are released or later this year, the Reporting Person intends to sell a portion of these shares primarily for the purposes of paying taxes related to the vesting of these shares.
As of the date of this filing, the remaining number of PBRSUs beneficially owned by the Reporting Person includes (a) a target number of 10,000 shares of PBRSUs granted on April 16, 2020 and (b) a target number of 10,000 shares of PBRSUs granted on April 16, 2021; all to vest in their entirety at the end of a three-year performance period.
/s/ David H. Watson
2022-04-14