X0202 4 2006-06-16 0 0000026537 ARGON ST, Inc. STST 0001305032 Tamaru Robert S 12701 FAIR LAKES CIRCLE FAIRFAX VA 22033 0 1 0 0 Vice President Common Stock 533600 D Contract (1) 2006-06-16 2008-12-18 common stock 38500 0 D (1) 1. On June 16, 2006, Mr. Tamaru entered into a Variable Prepaid Forward Agreement (the "Agreement") relating to the forward sale of 38,500 shares of common stock of Argon ST, Inc. ("Common Stock"). On June 16, 2006, the counterparty to the Agreement sold 38,500 shares of Common Stock into the public market, at a weighted average per-share price equal to $27.3430 (the "Floor Price"). The Agreement provides that on December 18, 2008 (the "Maturity Date"), Mr. Tamaru will deliver to the counterparty to the Agreement a number of shares of Common Stock (or, at the election of Mr. Tamaru, the cash equivalent of such shares) based on an agreed formula which is based on the closing price per share of Common Stock on the Maturity Date, but not to exceed 38,500 shares, and based on such closing price?s relationship to the put price of $27.3430 and the call price of $35.3459. In consideration of the Agreement, Mr. Tamaru received an advance of $847,322.66. /s/ Robert S. Tamaru 2006-06-19