Form 4 for AGX ARGAN INC
Accepted 2022-04-14 00:00:00 ET · period of report 2022-04-12 · accession 0001415889-22-004063 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2022-04-14 | 2022-04-12 | AGX | Watson David Hibbert | SVP AND CFO | M - OptEx | $0.00 | +8,984 | 17.5K | +106% | $0 |
| D | 2022-04-14 | 2022-04-12 | AGX | Watson David Hibbert | SVP AND CFO | M - OptEx | $0.00 | -8,000 | 20.0K | -29% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2022-04-12 | M | A | 8,984 | $0.00 | 17,484 | D | — | — | (F1) On April 12, 2022, the Reporting Person had Performance-Based Restricted Stock Units (the "PBRSUs") vest in the amount of 8,984 shares of Common Stock. These PBRSUs, which were granted April 12, 2019 with a target number of 8,000 shares (the "Target"), had vesting subject to the percentile of the Total Stock Return ("TSR") of the Issuer's common stock over a three-year period, as determined by the Issuer's Board of Directors, versus the comparative TSRs of 12 peer public companies disclosed in the Issuer's 2019 Proxy Statement. Each PBRSU represents a contingent right to receive one share of the Issuer's common stock. The potential payout ratio of the Target, ranged from 0% to 200%, depending on the degree of achievement of the percentile of the TSR. The performance achievement over the measurement period resulted in the vesting of 100% of the Target plus an adjustment for cash dividends. (F2) Assuming the trading window opens shortly after the year end financials are released or later this year, the Reporting Person intends to sell a portion of these shares primarily for the purposes of paying taxes related to the vesting of these shares. |
| 2 | Derivative | Performance-Based Restricted Stock Units | 2022-04-12 | M | D | 8,000 | $0.00 | 20,000 | D | $0.00 · — to — | 8,000 Common Stock | (F3) As of the date of this filing, the remaining number of PBRSUs beneficially owned by the Reporting Person includes (a) a target number of 10,000 shares of PBRSUs granted on April 16, 2020 and (b) a target number of 10,000 shares of PBRSUs granted on April 16, 2021; all to vest in their entirety at the end of a three-year performance period. |