View Filing Data for SEC filing 0001558370-23-007356

Document and Entity Information	12 Months Ended
Document and Entity Information	Jan. 31, 2023
Document and Entity Information [Abstract]
Document Type	DEF 14A
Entity Registrant Name	Argan, Inc.
Entity Central Index Key	0000100591
Amendment Flag	false

Pay vs Performance Disclosure

6 Months Ended

12 Months Ended

Jan. 31, 2023

USD ($)

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Jan. 31, 2022

USD ($)

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Jan. 31, 2021

USD ($)

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Pay vs Performance Disclosure [Table]

Pay vs Performance [Table Text Block]


													Value of Initial Fixed $100
									Average		Average		Investment Based On:
	SCT Total		SCT Total		CAP		CAP		SCT Total		CAP				Peer				EBITDA
Fiscal	for CEO		for CEO		to CEO		to CEO		for Other		to Other		Argan, Inc.		Group		Net Income		as a % of
Year	Bosselmann ⁽¹⁾		Watson ⁽²⁾		Bosselmann ⁽¹⁾		Watson ⁽²⁾		NEOs ⁽³⁾		NEOs ⁽³⁾		TSR ⁽⁴⁾		TSR ^{(4) (5)}		(in thousands) ⁽⁶⁾		Revenues ⁽⁷⁾
2023	$	1,911,619	$	1,398,444	$	2,158,773	$	1,596,121	$	1,888,785	$	2,162,355	$	104	$	206	$	34,704	10.6	%
2022		1,877,163		n/a		1,980,856		n/a		1,631,539		1,559,220		97		160		35,706	10.6	%
2021		1,027,895		n/a		1,110,509		n/a		997,554		1,063,796		110		128		23,811	7.5	%

(1)

Mr. Bosselmann served as Chairman of the Board and CEO in each of Fiscal 2023, 2022 and 2021, and is therefore included as the CEO in the table for each year.

(2)

Mr. Watson served as CEO from August 16, 2022, and is therefore included as CEO for Fiscal 2023 only.

(3)

Other NEOs pertain to the following executives and their roles for each year:

Fiscal 2021 – Mr. Watson (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary), Mr. Collins IV (Co-President, Gemma) and T. Colin Trebilcock (Co-President, Gemma)

Fiscal 2022 – Mr. Watson (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary), Mr. Collins IV (Chief Executive Officer, Gemma) and Mr. Trebilcock (President, Gemma)

Fiscal 2023 – Mr. Deily (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary) and Mr. Collins IV (Chief Executive Officer, Gemma)

(4)

Cumulative total shareholder return is calculated based on the value of an initial fixed investment of $100 on January 31, 2020, assuming reinvestment of dividends.

(5)

The peer group used for the calculation of peer group total shareholder returns is the Dow Jones US Heavy Construction TSM index.

(6)

The amounts in this column represent net income reflected in our audited consolidated financial statements for the applicable fiscal year.

(7)

EBITDA as a percentage of revenues is discussed above in the “Executive Compensation Discussion and Analysis.”

Company Selected Measure Name

EBITDA as a percentage of revenues

Named Executive Officers, Footnote [Text Block]

(1)

Mr. Bosselmann served as Chairman of the Board and CEO in each of Fiscal 2023, 2022 and 2021, and is therefore included as the CEO in the table for each year.

(2)

Mr. Watson served as CEO from August 16, 2022, and is therefore included as CEO for Fiscal 2023 only.

(3)

Other NEOs pertain to the following executives and their roles for each year:

Fiscal 2021 – Mr. Watson (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary), Mr. Collins IV (Co-President, Gemma) and T. Colin Trebilcock (Co-President, Gemma)

Fiscal 2022 – Mr. Watson (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary), Mr. Collins IV (Chief Executive Officer, Gemma) and Mr. Trebilcock (President, Gemma)

Fiscal 2023 – Mr. Deily (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary) and Mr. Collins IV (Chief Executive Officer, Gemma)

Peer Group Issuers, Footnote [Text Block]

(5)

The peer group used for the calculation of peer group total shareholder returns is the Dow Jones US Heavy Construction TSM index.

Adjustment To PEO Compensation, Footnote [Text Block]

The table below provides a reconciliation of the adjustments to the totals as presented in the SCT to compensation actually paid. Compensation actually paid is determined pursuant to SEC rules. As such, “Compensation Actually Paid” in the table below is not representative of the cumulative cash compensation provided and fair value of vested stock-based awards issued to our NEOs during the respective fiscal year. Rather, “Compensation Actually Paid” in the table below is determined by adjusting totals presented in the SCT by year-over-year changes in the fair value of unvested equity awards that are outstanding at the end of the respective year or vest during the respective year.


	Chief Executive Officer								Other Named Executive Officers Average
	Fiscal Year Ended January 31,								Fiscal Year Ended January 31,
	2021		2022		2023		2023
	(Bosselmann) ⁽¹⁾		(Bosselmann) ⁽¹⁾		(Bosselmann) ⁽¹⁾		(Watson) ⁽²⁾		2021 ⁽³⁾		2022 ⁽³⁾		2023 ⁽³⁾
Summary Compensation Table Total	$	1,027,895	$	1,877,163	$	1,911,619	$	1,398,444	$	997,554	$	1,631,539	$	1,888,785
Fair value of stock-based awards granted during the year, as disclosed in the SCT		(601,061)		(1,425,250)		(949,952)		(759,962)		(198,149)		(685,267)		(614,704)
Year-end fair value of stock-based awards granted during the year		854,824		657,043		946,327		757,062		290,753		382,871		800,822
Change in fair value of prior year stock-based awards vested during the year or unvested as of yearend		(171,149)		871,900		250,779		200,577		(26,362)		230,076		87,452
Compensation Actually Paid	$	1,110,509	$	1,980,856	$	2,158,773	$	1,596,121	$	1,063,796	$	1,559,220	$	2,162,355

(1)

Mr. Bosselmann served as Chairman of the Board and CEO in each of Fiscal 2023, 2022 and 2021, and is therefore included as the CEO in the table for each year.

(2)

Mr. Watson served as CEO from August 16, 2022, and is therefore included as CEO for Fiscal 2023 only.

(3)

Other NEOs pertain to the following executives and their roles for each year:

Fiscal 2021 – Mr. Watson (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary), Mr. Collins IV (Co-President, Gemma) and T. Colin Trebilcock (Co-President, Gemma)

Fiscal 2022 – Mr. Watson (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary), Mr. Collins IV (Chief Executive Officer, Gemma) and Mr. Trebilcock (President, Gemma)

Fiscal 2023 – Mr. Deily (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary) and Mr. Collins IV (Chief Executive Officer, Gemma)

Non-PEO NEO Average Total Compensation Amount

$ 1,888,785

$ 1,631,539

$ 997,554

Non-PEO NEO Average Compensation Actually Paid Amount

$ 2,162,355

1,559,220

1,063,796

Adjustment to Non-PEO NEO Compensation Footnote [Text Block]


	Chief Executive Officer								Other Named Executive Officers Average
	Fiscal Year Ended January 31,								Fiscal Year Ended January 31,
	2021		2022		2023		2023
	(Bosselmann) ⁽¹⁾		(Bosselmann) ⁽¹⁾		(Bosselmann) ⁽¹⁾		(Watson) ⁽²⁾		2021 ⁽³⁾		2022 ⁽³⁾		2023 ⁽³⁾
Summary Compensation Table Total	$	1,027,895	$	1,877,163	$	1,911,619	$	1,398,444	$	997,554	$	1,631,539	$	1,888,785
Fair value of stock-based awards granted during the year, as disclosed in the SCT		(601,061)		(1,425,250)		(949,952)		(759,962)		(198,149)		(685,267)		(614,704)
Year-end fair value of stock-based awards granted during the year		854,824		657,043		946,327		757,062		290,753		382,871		800,822
Change in fair value of prior year stock-based awards vested during the year or unvested as of yearend		(171,149)		871,900		250,779		200,577		(26,362)		230,076		87,452
Compensation Actually Paid	$	1,110,509	$	1,980,856	$	2,158,773	$	1,596,121	$	1,063,796	$	1,559,220	$	2,162,355

(1)

Mr. Bosselmann served as Chairman of the Board and CEO in each of Fiscal 2023, 2022 and 2021, and is therefore included as the CEO in the table for each year.

(2)

Mr. Watson served as CEO from August 16, 2022, and is therefore included as CEO for Fiscal 2023 only.

(3)

Other NEOs pertain to the following executives and their roles for each year:

Fiscal 2021 – Mr. Watson (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary), Mr. Collins IV (Co-President, Gemma) and T. Colin Trebilcock (Co-President, Gemma)

Fiscal 2022 – Mr. Watson (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary), Mr. Collins IV (Chief Executive Officer, Gemma) and Mr. Trebilcock (President, Gemma)

Fiscal 2023 – Mr. Deily (Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary) and Mr. Collins IV (Chief Executive Officer, Gemma)

Tabular List [Table Text Block]

As described further in “Executive Compensation Discussion and Analysis,” our executive compensation is assessed using a variety of quantitative and qualitative factors associated with the Company’s operational and financial performance, stockholder valuation creation, capital allocation, succession planning, the retention and motivation of core employees, stockholder engagement and effectiveness in the areas of financial reporting and income tax planning. We utilize several performance measures to align NEO compensation with performance, many of which are not included as measures presented in the PVP Table above. Furthermore, we generally seek to incentivize long-term performance, and therefore, do not align NEO compensation with all of the measures presented in the PVP Table above. The list below presents performance measures identified as the most important factors for the determination of NEO compensation.

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EBITDA

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EBITDA as a percent of revenues

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Selling, general and administrative expenses as a percent of revenues

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Return on equity

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Project backlog

Total Shareholder Return Amount

$ 104