ARGAN INC
For the period ended Apr 30, 2024. Filed Jun 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Apr 30, 2024 · Filed Jun 6, 2024
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Item 1A. RISK FACTORS
There have been no material changes to the risk factors disclosed in our Annual Report.
Our board of directors has authorized management to spend up to $125 million for the repurchase of shares of our common stock in the open market or through investment banking institutions, privately-negotiated transactions, or direct purchases (the “Share Repurchase Plan”). The timing and amount of stock repurchase transactions will depend on market and business conditions, applicable legal and credit requirements and other corporate considerations. In accordance with the SEC’s Rule 10b5-1, and pursuant to the Share Repurchase Plan, we have allowed, and may in the future allow, the repurchase of our common stock during trading blackout periods by an investment banking firm or other institution agent acting on our behalf pursuant to predetermined parameters.
Information related to our share repurchases for the three months ended April 30, 2024 follows:
| · · · · · · · · · · | ||||||||
|---|---|---|---|---|---|---|---|---|
| | | | | | | | | Approximate Dollar |
| | | | | | | Total Number of | | Value of Shares That May Yet |
| | | | | | | Shares Purchased as Part | | Be Purchased under the |
| | | Total Number of | | Average Price per | | of Publicly Announced | | Plans or Programs |
| Period · Shares Repurchased · Share Paid · Plans or Programs · (Dollars in Thousands) | ||||||||
| February 1 - 29, 2024 | | 5,600 | | $44.87 | | 5,600 | | $23,767 |
| March 1 - 31, 2024 | | 4,299 | | $49.97 | | — | | $23,767 |
| April 1 - 30, 2024 | | 181,055 | | $60.90 | | — | | $23,767 |
| Total | 190,954 | | | | 5,600 | | | |
For the month ended March 31, 2024, we accepted 4,299 shares of our common stock at the average price per share of $49.97 for the exercise price and/or tax withholding in connection with stock option exercises that occurred during the month. For the month ended April 30, 2024, we accepted 181,055 shares of our common stock at the average price per share of $60.90 for the exercise price and/or tax withholding in connection with stock option exercises and restricted stock unit settlements that occurred during the month.
None
Not Applicable
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