X0306 4 2019-12-23 0 0000100591 ARGAN INC AGX 0001463638 Flanders Cynthia 10006 WILDWOOD ROAD KENSINGTON MD 20895 1 0 0 0 Common Stock 15000 D Stock Option to Purchase Common Stock 40.15 2019-12-23 4 A 0 10000 0.00 A 2020-12-23 2029-12-23 Common Stock 10000 67000 D On December 23, 2019 (the "Grant Date"), the Reporting Person received 10-year options, vesting ratably over three years on each anniversary date from the Grant Date, to purchase 10,000 shares of the Issuer's common stock with an exercise price of $40.15 per share. As of the date of this filing, the total number of options owned by the Reporting Person includes (a) options to acquire 7,000 shares of common stock at a price of $26.88 per share with Date Exercisable of 12/17/2014 and Expiration Date of 12/17/2023; (b) options to acquire 10,000 shares of common stock at a price of $31.82 with Date Exercisable of 12/11/2015 and Expiration Date of 12/11/2024; (c) options to acquire 10,000 shares of common stock at a price of $30.44 per share with Date Exercisable of 1/7/2017 and Expiration Date of 1/7/2026; (d) options to acquire 10,000 shares of common stock at a price of $71.75 per share with Date Exercisable of 1/5/2018 and Expiration Date of 1/5/2027; (e) options to acquire 10,000 shares of common stock at a price of $46.35 per share with initial Date Exercisable of 1/11/2019 and Expiration Date of 1/11/2028; (f) options to acquire 10,000 shares of common stock at a price of $41.19 per share with initial Date Exercisable beginning on 12/12/2019 and Expiration Date of 12/12/2028; and (g) options to acquire 10,000 shares of common stock at a price of $40.15 per share with initial Date Exercisable of 12/23/2020 and Expiration Date of 12/23/2029. /s/ Cynthia A Flanders 2019-12-23