X0306 4 2019-12-23 0 0000100591 ARGAN INC AGX 0001709914 Jeffrey John Ronald Jr. C/O ARGAN, INC. ONE CHURCH STREET, SUITE 201 ROCKVILLE MD 20850 1 0 0 0 Common Stock 6000 I John R. Jeffrey, IRA 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 40000 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 Reporting Person owns options to purchase (a) 10,000 shares of common stock at a price of $60.05 per share with Date Exercisable of 06/22/2018 and Expiration Date of 06/22/2027; (b) 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; and (c) options to acquire 10,000 shares of common stock at a price of $41.19 per share with initial Date Exercisable of 12/12/2019 and Expiration Date of 12/12/2028 and (d) 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/ John R Jeffrey Jr 2019-12-23