SEC Form 4 · accession 0001104659-16-162817
ARGAN INC · AGX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian R Sherras
Director
Period of report
Dec 16, 2016
Accepted (ET)
Dec 19, 2016 · 4:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000100591
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 16, 2016 | M | 10,000 | $16.47 | A | 10,000 | D | |
| Common StockF2 | Dec 16, 2016 | S | 10,000 | $70.33 | D | 0 | D | |
| Common StockF3 | holding | — | — | — | 27,965 | I | By Electrigen Limited |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option to purchase Common StockF4 | $0.00 | holding | — | — | — | Apr 2, 2013 | Dec 11, 2024 | Common Stock | 35,000 | 35,000 | D |
Explanation of responses
- F1On December 16, 2016, the Reporting Person exercised his stock option received on April 2, 2012 to purchase 10,000 shares of the Issuer's common stock at a price of $16.47 per share.
- F2On December 16, 2016, the Reporting Person sold 10,000 shares of the Issuer's common stock on the open market at a price of $70.33 per share.
- F3Electrigen Limited ("Electrigen") acquired the common stock of the Issuer in exchange for Electrigen's ownership interest in Atlantic Projects Company Limited having an estimated value of $917,531.65. The Reporting Person is a 50% owner and director of Electrigen; therefore, the Reporting Person may be deemed to indirectly beneficially own the shares owned by Electrigen.
- F4As of the date of this filing, the total number of stock options owned by the Reporting Person includes options to acquire an aggregate number of 35,000 shares of the Issuer's common stock with Exercise Prices ranging from $16.47 to $31.82 with Dates Exercisable ranging from April 2, 2013 to December 11, 2015 and Expiration Dates ranging from April 2, 2022 to December 11, 2024. (Please refer to the Form 4's filed by the Reporting Person on April 3, 2012, January 9, 2013, December 18, 2013 and December 12, 2014 for more information.)