{"url_path":"/sec/agx/10-k/2026/item-5","section_key":"item-5","section_title":"Item 5 MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND****ISSUER PURCHASES OF EQUITY SECURITIES.**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-03-26","source_url":"https://www.sec.gov/Archives/edgar/data/100591/0001104659-26-035216-index.html","accession_number":"0001104659-26-035216","cik":"0000100591","ticker":"AGX","issuer_name":"ARGAN INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/100591/0001104659-26-035216-index.html","primary_entity_key":"0000100591","primary_entity_name":"ARGAN INC"},"word_count":779,"has_tables":true,"body_markdown":"**ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND****ISSUER PURCHASES OF EQUITY SECURITIES.**\n\nShares of our common stock trade under the symbol **AGX** on the New York Stock Exchange (the “NYSE”). As of March 20, 2026, we had approximately 41 stockholders of record. This number does not include shareholders for whom shares were held in “street name.”\n\n**Dividends**\n\nSince Fiscal 2019, we have paid consecutive quarterly cash dividends. The regular quarterly dividend amount was increased from $0.25 per share of our common stock to $0.30 per share for the quarter ended October 31, 2023, to $0.375 per share for the quarter ended October 31, 2024, and to $0.50 per share for the quarter ended October 31, 2025. Each quarter, our board of directors evaluates the Company’s ongoing operational and financial performance in determining the amount of the regular dividend and any special dividend. There can be no assurance that these evaluations will result in the payment of cash dividends in the future.\n\n**Share Repurchase Program**\n\nIn June 2020, our board of directors approved a share repurchase program to repurchase shares of our common stock (the “Share Repurchase Program”). The board has subsequently increased the authorization, the most recent occurring on April 10, 2025, when the board approved an additional $25 million increase, resulting in a total authorized amount of $150 million. In Fiscal 2025, the board extended the Share Repurchase Program through January 2027.\n\nThe timing and amount of any repurchases will depend on market and business conditions, applicable legal and credit requirements, and other corporate considerations. In accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, and pursuant to the Share Repurchase Plan, we have permitted, and may in the future permit, the repurchase of our common stock during trading blackout periods by an investment banking firm or other institution acting as our agent under predetermined parameters.\n\nInformation relating to our share repurchases for the fiscal quarter ended January 31, 2026 is as follows:\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Approximate Dollar**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Total Number of**\n\n​\n\n**Value of Shares That May Yet**\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Shares Purchased as Part**\n\n​\n\n**Be Purchased under the**\n\n​\n\n​\n\n**Total Number of**\n\n​\n\n**Average Price per**\n\n​\n\n**of Publicly Announced**\n\n​\n\n**Plans or Programs**\n\n**Period**\n\n  ​ ​ ​\n\n**Shares Repurchased**\n\n  ​ ​ ​\n\n**Share Paid**\n\n  ​ ​ ​\n\n**Plans or Programs**\n\n  ​ ​ ​\n\n**(Dollars in Thousands)**\n\nNovember 1 - 30, 2025\n\n​\n\n—\n\n​\n\n$\n\n—\n\n​\n\n—\n\n​\n\n$\n\n40,447\n\nDecember 1 - 31, 2025\n\n​\n\n4,300\n\n​\n\n$\n\n322.86\n\n​\n\n4,300\n\n​\n\n$\n\n39,059\n\nJanuary 1 - 31, 2026\n\n​\n\n15,454\n\n​\n\n$\n\n327.99\n\n​\n\n4,282\n\n​\n\n$\n\n37,618\n\n**Total**\n\n \n\n19,754\n\n​\n\n​\n\n​\n\n \n\n8,582\n\n​\n\n​\n\n​\n\nFor the month ended January 31, 2026, we accepted 11,172 shares of our common stock at the average price per share of $324.79 in exchange for the exercise price and/or tax withholding in connection with stock option exercises and restricted stock unit settlements that occurred during the month.\n\n**Common Stock Price Performance Graph**\n\nThe graph presented below compares the percentage change in the cumulative total stockholder return on our common stock for the last five years with the *S&P 500*, a broad market index, and the *Dow Jones US Heavy Construction TSM Index,* a group index of companies where their focus is limited primarily to heavy civil construction. The returns are calculated assuming that an investment with a value of $100 was made in our common stock and in each index as of January 31, 2021, and that all dividends were reinvested in additional shares of common stock. The graph lines merely connect the measuring dates and do not reflect fluctuations between those dates. The stock performance shown on the graph is not intended to be indicative of future stock performance.\n\n​\n\n​\n\n- 22 -\n\n[Table of Contents](#TOC)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n**Years Ended January 31, **\n\n​\n\n  ​ ​ ​\n\n​\n\n**2021**\n\n  ​ ​ ​\n\n​\n\n**2022**\n\n  ​ ​ ​\n\n​\n\n**2023**\n\n  ​ ​ ​\n\n​\n\n**2024**\n\n  ​ ​ ​\n\n​\n\n**2025**\n\n  ​ ​ ​\n\n​\n\n**2026**\n\n**Argan, Inc.**\n\n \n\n$\n\n100.00\n\n \n\n$\n\n87.89\n\n \n\n$\n\n94.88\n\n \n\n$\n\n110.75\n\n \n\n$\n\n346.55\n\n \n\n$\n\n886.07\n\n**S&P 500**\n\n \n\n​\n\n100.00\n\n \n\n​\n\n123.29\n\n \n\n​\n\n113.16\n\n \n\n​\n\n136.72\n\n \n\n​\n\n172.78\n\n \n\n​\n\n201.03\n\n**Dow Jones US Heavy Construction TSM**\n\n \n\n​\n\n100.00\n\n \n\n​\n\n124.95\n\n \n\n​\n\n160.62\n\n \n\n​\n\n180.75\n\n \n\n​\n\n279.88\n\n \n\n​\n\n440.20\n\n**Unregistered Sales of Equity Securities and Use of Proceeds**\n\nNone.\n\n​"}