0001415889-22-004131.txt : 20220419
0001415889-22-004131.hdr.sgml : 20220419
20220419161519
ACCESSION NUMBER: 0001415889-22-004131
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220416
FILED AS OF DATE: 20220419
DATE AS OF CHANGE: 20220419
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: 22835111
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
form4-04192022_040407.xml
X0306
4
2022-04-16
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
2022-04-16
4
M
0
3411
0
A
20895
D
Stock Option to Purchase Common Stock
36.78
2022-04-18
4
A
0
10000
0
A
2023-04-18
2032-04-18
Common Stock
10000
186000
D
Performance-Based Restricted Stock Units
0
2022-04-18
4
A
0
10000
0
A
Common Stock
10000
30000
D
Time-Based Restricted Stock Units
0
2022-04-18
4
A
0
10000
0
A
Common Stock
10000
16667
D
On April 16, 2022, the Reporting Person had Time-Based Restricted Stock Units (the "TBRSUs") vest in the amount of 3,411 shares of Common Stock. This issuance is pursuant to the three year vesting schedule of the 10,000 TBRSU award that was granted on April 16, 2021 and is adjusted for cash dividends.
On April 18, 2022, the Reporting Person received 10-year options to purchase 10,000 shares of the Issuer's common stock with an exercise price of $36.78 per share. The options will vest ratably over three years on each anniversary of the grant date starting from 04/18/2023.
As of the date of this filing, the total number of options owned by the Reporting Person includes (a) options to acquire 30,000 shares of common stock at a price of $41.68 with Date Exercisable of 06/23/2017 and Expiration Date of 06/23/2026; (b) options to acquire 40,000 shares of common stock at a price of $64.25 per share with Date Exercisable of 04/06/2018 and Expiration Date of 04/06/2027; (c) options to acquire 32,000 shares of common stock at a price of $37.60 per share with Date Exercisable of 04/13/2019 and Expiration Date of 04/13/2028; (d) options to acquire 32,000 shares of common stock at a price of $50.30 with a Date Exercisable of 4/12/2020 and Expiration date of 4/12/2029;
(e) options to acquire 32,000 shares of common stock at a price of $33.81 with a Date Exercisable of 4/16/2021 and Expiration Date of 4/16/2030, (f) options to acquire 10,000 shares of common stock at a price of $54.60 with a Date Exercisable of 4/16/2022 and Expiration Date of 4/16/2031, and (g) options to acquire 10,000 shares of common stock at a price of $36.78 per share with Date Exercisable 4/18/2023 and Expiration Date of 4/18/2032; all subject to the aforementioned three-year ratably vesting schedule.
On April 18, 2022, the Reporting Person was granted Performance-Based Restricted Stock Units (the "PBRSUs") in the target number of 10,000 shares (the "Target"), 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 2022 Proxy Statement. Each PBRSU represents a contingent right to receive one share of the Issuer's common stock. The payout ratio of the Target, 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.
As of the date of this filing, the total number of PBRSUs owned by the Reporting Person includes (a) a target number of 10,000 shares of PBRSUs granted on April 16, 2020; (b) a target number of 10,000 shares of PBRSUs granted on April 16, 2021, and (c) a target number of 10,000 shares of PBRSUs granted on April 18, 2022; all to vest in their entirety at the end of a three-year performance period as generally reported under footnote 5 above.
On April 18, 2022, the Reporting Person was granted Time-Based Restricted Stock Units (the "TBRSUs") covering 10,000 shares of common stock. The TBRSUs will vest in equal installments on each of the next three anniversaries of the grant date starting on 04/18/2023.
As of the date of this filing, the remaining number of TBRSUs beneficially owned by the Reporting Person includes (a) 6,667 shares of TBRSUs granted on April 12, 2021; and (b) 10,000 shares of TBRSUs granted on April 18, 2022, all to vest pursuant to the three year vesting schedule reported under footnote 7 above.
/s/ David H. Watson
2022-04-19