Sec Form 4 Filing - QUINN JAMES W @ ARGAN INC - 2025-06-09

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person QUINN JAMES W 2. Issuer Name and Ticker or Trading Symbol ARGAN INC [ AGX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O ALLEN & COMPANY, 711 FIFTH AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 06/09/2025 (Street) NEW YORK, NY10022 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 06/09/2025 M 8,749 ( 1 ) A $ 30.44 8,749 D Common Stock 06/09/2025 M 7,053 ( 2 ) A $ 71.75 15,802 D Common Stock 06/09/2025 M 8,096 ( 3 ) A $ 46.35 23,898 D Common Stock 06/09/2025 M 8,308 ( 4 ) A $ 41.19 32,206 D Common Stock 06/09/2025 M 8,350 ( 5 ) A $ 40.15 40,556 D Common Stock 06/09/2025 M 8,120 ( 6 ) A $ 45.75 48,676 D Common Stock 06/09/2025 M 4,237 ( 7 ) A $ 37.13 52,913 D Common Stock 06/09/2025 M 2,844 ( 8 ) A $ 35.72 55,757 D Common Stock 06/09/2025 M 410 ( 9 ) A $ 43.7 56,167 D Common Stock 06/10/2025 M 390 ( 10 ) A $ 0 56,557 D Common Stock 06/10/2025 S 40,000 ( 11 ) D $ 207.92 16,557 D Common Stock 63,014 I the James W. Quinn 2025 GRAT No.1

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Option to Purchase Common Stock $ 30.44 06/09/2025 M 10,000 ( 1 ) 01/07/2017 01/07/2026 Common Stock 10,000 $ 30.44 61,500 D Option to Purchase Common Stock $ 71.75 06/09/2025 M 10,000 ( 2 ) 01/05/2018 01/05/2027 Common Stock 10,000 $ 71.75 51,500 D Option to Purchase Common Stock $ 46.35 06/09/2025 M 10,000 ( 3 ) 01/11/2019 01/11/2028 Common Stock 10,000 $ 46.35 41,500 D Option to Purchase Common Stock $ 41.19 06/09/2025 M 10,000 ( 4 ) 12/12/2019 12/12/2028 Common Stock 10,000 $ 41.19 31,500 D Option to Purchase Common Stock $ 40.15 06/09/2025 M 10,000 ( 5 ) 12/23/2020 12/23/2029 Common Stock 10,000 $ 40.15 21,500 D Option to Purchase Common Stock $ 45.75 06/09/2025 M 10,000 ( 6 ) 12/14/2021 12/14/2030 Common Stock 10,000 $ 45.75 11,500 D Option to Purchase Common Stock $ 37.13 06/09/2025 M 5,000 ( 7 ) 12/14/2022 12/14/2031 Common Stock 5,000 $ 37.13 6,500 D Option to Purchase Common Stock $ 35.72 06/09/2025 M 3,334 ( 8 ) 12/16/2023 12/16/2032 Common Stock 3,334 $ 35.72 3,166 D Option to Purchase Common Stock $ 43.7 06/09/2025 M 500 ( 9 ) 12/14/2024 12/14/2033 Common Stock 500 $ 43.7 2,666 D Time-Based Restricted Stock Units $ 0 06/10/2025 M 388 ( 10 ) ( 10 ) Common Stock 388 $ 0 3,417 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other QUINN JAMES W C/O ALLEN & COMPANY, 711 FIFTH AVENUE NEW YORK, NY10022 X Signatures /s/ James W. Quinn 06/11/2025 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On June 9, 2025, the Reporting Person exercised his stock option awarded on January 7, 2016 to purchase 10,000 shares of the Issuer's common stock at a price of $30.44 per share, using the net settle method. ( 2 )On June 9, 2025, the Reporting Person exercised his stock option awarded on January 5, 2017 to purchase 10,000 shares of the Issuer's common stock at a price of $71.75 per share, using the net settle method. ( 3 )On June 9, 2025, the Reporting Person exercised his stock option awarded on January 11, 2018 to purchase 10,000 shares of the Issuer's common stock at a price of $46.35 per share, using the net settle method. ( 4 )On June 9, 2025, the Reporting Person exercised his stock option awarded on December 12, 2018 to purchase 10,000 shares of the Issuer's common stock at a price of $41.19 per share, using the net settle method. ( 5 )On June 9, 2025, the Reporting Person exercised his stock option awarded on December 23, 2019 to purchase 10,000 shares of the Issuer's common stock at a price of $40.15 per share. ( 6 )On June 9, 2025, the Reporting Person exercised his stock option awarded on December 14, 2020 to purchase 10,000 shares of the Issuer's common stock at a price of $45.75 per share, using the net settle method. ( 7 )On June 9, 2025, the Reporting Person exercised his stock option awarded on December 14, 2021 to purchase 5,000 shares of the Issuer's common stock at a price of $37.13 per share, using the net settle method. ( 8 )On June 9, 2025, the Reporting Person exercised a portion of his stock option awarded on December 16, 2022 to purchase 3,334 shares of the Issuer's common stock at a price of $35.72 per share, using the net settle method. ( 9 )On June 9, 2025, the Reporting Person exercised a portion of his stock option awarded on December 14, 2023 to purchase 500 shares of the Issuer's common stock at a price of $43.70 per share, using the net settle method. ( 10 )Pursuant to the six-month vesting schedule of the Time-Based Restricted Stock Unit ("TRSU") awarded to the Reporting Person on December 12, 2024, 388 shares of Common Stock became issuable to the Reporting Person on June 10, 2025 and is adjusted for dividends ( 11 )On June 10, 2025, the Reporting Person sold 40,000 shares of the Issuer's common stock on the open market at an average price of $207.92 per share.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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