Name
|
| |
Age
|
| |
Position
|
|
Rainer H. Bosselmann | | |
77
|
| |
Chairman of the Board
|
|
Cynthia A. Flanders | | |
65
|
| |
Director
|
|
Peter W. Getsinger | | |
68
|
| |
Director
|
|
William F. Griffin, Jr. | | |
65
|
| |
Director
|
|
John R. Jeffrey, Jr. | | |
66
|
| |
Director
|
|
Mano S. Koilpillai | | |
59
|
| |
Director
|
|
William F. Leimkuhler | | |
68
|
| |
Director
|
|
W.G. Champion Mitchell | | |
73
|
| |
Director
|
|
James W. Quinn | | |
62
|
| |
Director
|
|
Director
|
| |
Audit
Committee |
| |
Compensation
Committee |
| |
Nominating/
Corporate Governance Committee |
| |
Executive
Committee |
|
Rainer H. Bosselmann | | | | | | | | | | | |
Chairman
|
|
Cynthia A. Flanders | | |
Member
|
| |
Member
|
| | | | | | |
Peter W. Getsinger | | |
Member
|
| | | | | | | | | |
John R. Jeffrey, Jr. | | |
Chairman
|
| | | | |
Member
|
| | | |
Mano S. Koilpillai | | | | | | | | |
Member
|
| | | |
William F. Leimkuhler | | | | | |
Member
|
| | | | | | |
W.G. Champion Mitchell | | | | | | | | |
Chairman
|
| |
Member
|
|
James W. Quinn | | | | | |
Chairman
|
| |
Member
|
| |
Member
|
|
Name
|
| |
Fees
|
| |
Stock Option
Awards(1) |
| |
All Other
Compensation |
| |
Total
Compensation |
| ||||||||||||
Cynthia A. Flanders
|
| | | $ | 27,050 | | | | | $ | 78,600 | | | | | $ | — | | | | | $ | 105,650 | | |
Peter W. Getsinger
|
| | | | 28,300 | | | | | | 78,600 | | | | | | — | | | | | | 106,900 | | |
John R. Jeffrey, Jr.
|
| | | | 28,000 | | | | | | 78,600 | | | | | | — | | | | | | 106,600 | | |
Mano S. Koilpillai(2)
|
| | | | 5,600 | | | | | | 165,330 | | | | | | — | | | | | | 170,930 | | |
William F. Leimkuhler
|
| | | | 25,500 | | | | | | 78,600 | | | | | | — | | | | | | 104,100 | | |
W.G. Champion Mitchell
|
| | | | 21,800 | | | | | | 78,600 | | | | | | — | | | | | | 100,400 | | |
James W. Quinn
|
| | | | 23,000 | | | | | | 78,600 | | | | | | — | | | | | | 101,600 | | |
| | |
Number of Securities
Issuable under Outstanding Warrants and Options(2) |
| |
Weighted-Average
Exercise Price of Outstanding Warrants and Options |
| |
Number of Securities
Remaining Available for Future Issuance(3) |
| |||||||||
Equity Compensation Plans Approved by
the Stockholders(1) |
| | | | 1,433,567 | | | | | $ | 43.69 | | | | | | 164,833 | | |
Equity Compensation Plans Not Approved by the Stockholders
|
| | | | — | | | | | | — | | | | | | — | | |
Totals
|
| | | | 1,433,567 | | | | | $ | 43.69 | | | | | | 164,833 | | |
| | |
2020
|
| |
2019
|
| ||||||
Audit Fees
|
| | | $ | 1,116,000 | | | | | $ | 1,030,000 | | |
Audit-Related Fees
|
| | | | — | | | | | | — | | |
Tax Fees
|
| | | | — | | | | | | 48,000 | | |
All Other Fees
|
| | | | — | | | | | | — | | |
Total Fees
|
| | | $ | 1,116,000 | | | | | $ | 1,078,000 | | |
Name and Address
|
| |
Shares
Beneficially Owned(1) |
| |
Beneficial
Ownership Percentage(1) |
| ||||||
Rainer H. Bosselmann(2)
|
| | | | 515,744 | | | | | | 3.26% | | |
William F. Griffin, Jr.(3)
|
| | | | 296,150 | | | | | | 1.89% | | |
James W. Quinn(4)
|
| | | | 114,569 | | | | | | * | | |
David H. Watson(5)
|
| | | | 84,367 | | | | | | * | | |
William F. Leimkuhler(6)
|
| | | | 81,999 | | | | | | * | | |
Cynthia A. Flanders(7)
|
| | | | 61,999 | | | | | | * | | |
W.G. Champion Mitchell(8)
|
| | | | 52,499 | | | | | | * | | |
Peter W. Getsinger(9)
|
| | | | 38,399 | | | | | | * | | |
John R. Jeffrey, Jr.(10)
|
| | | | 25,999 | | | | | | * | | |
Charles E. Collins IV(11)
|
| | | | 11,677 | | | | | | * | | |
T. Colin Trebilcock(11)
|
| | | | 11,677 | | | | | | * | | |
Mano S. Koilpillai
|
| | | | — | | | | | | — | | |
Officers and Directors, as a group (13 persons)(12)
|
| | | | 1,319,142 | | | | | | 8.15% | | |
Wellington Management Group, LLP(13)
|
| | | | 1,630,717 | | | | | | 10.43% | | |
River Road Asset Management, LLC(14)
|
| | | | 1,291,263 | | | | | | 8.26% | | |
FMR LLC(15)
|
| | | | 1,282,904 | | | | | | 8.21% | | |
BlackRock, Inc.(16)
|
| | | | 1,071,095 | | | | | | 6.85% | | |
Dimensional Fund Advisors, LP(17)
|
| | | | 1,046,801 | | | | | | 6.70% | | |
| | |
Years Ended January 31,
|
| |||||||||||||||||||||||||||||||||
| | |
2015
|
| |
2016
|
| |
2017
|
| |
2018
|
| |
2019
|
| |
2020
|
| ||||||||||||||||||
Argan, Inc.
|
| | | | 100.00 | | | | | | 101.01 | | | | | | 251.83 | | | | | | 151.12 | | | | | | 150.06 | | | | | | 153.21 | | |
S&P 500
|
| | | | 100.00 | | | | | | 99.33 | | | | | | 119.24 | | | | | | 150.73 | | | | | | 147.24 | | | | | | 179.17 | | |
Dow Jones US Heavy Civil Construction TSM
|
| | | | 100.00 | | | | | | 92.93 | | | | | | 133.02 | | | | | | 145.69 | | | | | | 114.42 | | | | | | 131.91 | | |
| | |
Total Stockholder Return:
Argan v. Peer Group(1) |
| | | | | | | |||||||||
TSR
|
| |
Argan
|
| |
Peer Group Average
|
| |
Peer Group
Percentile Rank |
| |||||||||
1-year TSR
|
| | | | (20.1)% | | | | | | (36.9)% | | | | | | 77% | | |
3-year TSR
|
| | | | (15.6)% | | | | | | (20.2)% | | | | | | 62% | | |
5-year TSR
|
| | | | 5.1% | | | | | | (4.7)% | | | | | | 85% | | |
| | |
2020
|
| |
2019
|
| |
2018
|
| |||||||||
Return on Equity
|
| | | | (12.1)% | | | | | | 13.6% | | | | | | 21.1% | | |
EBITDA as a % of Revenues
|
| | | | (18.9) | | | | | | 10.9 | | | | | | 13.0 | | |
SG&A(1) as a % of Revenues
|
| | | | 18.5 | | | | | | 8.4 | | | | | | 4.7 | | |
|
Peer Group
|
| |||
|
Aegion Corporation
Dycom Industries, Inc. Frank’s International N.V. Granite Construction Incorporated Integrated Electrical Services Corporation Matrix Service Company |
| |
MYR Group Inc.
Primoris Services Corporation Orion Marine Group, Inc. Sterling Construction Company, Inc. Team, Inc. Tutor Perini Corporation |
|
Rank
|
| |
13th
|
| |
12th
|
| |
11th
|
| |
10th
|
| |
9th
|
| |
8th
|
| |
7th
|
| |
6th
|
| |
5th
|
| |
4th
|
| |
3rd
|
| |
2nd
|
| |
1st
|
| |||||||||||||||||||||||||||||||||||||||
Percentile
|
| | | | 0.0% | | | | | | 8.3% | | | | | | 16.6% | | | | | | 25.0% | | | | | | 33.3% | | | | | | 41.6% | | | | | | 50.0% | | | | | | 58.3% | | | | | | 66.6% | | | | | | 75.0% | | | | | | 83.3% | | | | | | 91.6% | | | | | | 100.0% | | |
Payout
|
| | | | 0% | | | | | | 0% | | | | | | 0% | | | | | | 0% | | | | | | 0% | | | | | | 0% | | | | | | 100% | | | | | | 100% | | | | | | 150% | | | | | | 200% | | | | | | 200% | | | | | | 200% | | | | | | 200% | | |
Name
|
| |
Required Ownership
(multiple of salary) |
| |
Ownership
Requirement |
| |
Shares Held
Calculation |
| |
Value as of
April 28, 2020 |
| |
Meets
Requirement |
| |||||||||
Rainer H. Bosselmann
|
| | CEO – 5X | | | | $ | 1,125,000 | | | | | | 335,536 | | | | | $ | 12,713,459 | | | |
Yes
|
|
Charles E. Collins IV
|
| |
Co-President, Gemma – 1X
|
| | | $ | 315,000 | | | | | | — | | | | | $ | — | | | |
In Process
|
|
Name
|
| |
Required Ownership
(multiple of salary) |
| |
Ownership
Requirement |
| |
Shares Held
Calculation |
| |
Value as of
April 28, 2020 |
| |
Meets
Requirement |
| |||||||||
T. Colin Trebilcock
|
| |
Co-President, Gemma – 1X
|
| | | $ | 315,000 | | | | | | — | | | | | $ | — | | | |
In Process
|
|
David H. Watson
|
| | CFO – 1X | | | | $ | 200,000 | | | | | | 10,200 | | | | | $ | 386,478 | | | |
Yes
|
|
Name and Principal Position
|
| |
Fiscal
Year Ended January 31, |
| |
Salary
Earned |
| |
Bonus
Earned |
| |
Stock
Awards(1) |
| |
Stock Option
Awards(2) |
| |
Non-equity
Incentive Plan Compensation(3) |
| |
All Other
Compensation(4) |
| |
Total
Compensation |
| ||||||||||||||||||||||||
Rainer H. Bosselmann
Chief Executive Officer |
| | | | 2020 | | | | | $ | 225,000 | | | | | $ | 200,000 | | | | | $ | 444,960 | | | | | $ | 467,365 | | | | | $ | — | | | | | $ | 1,200 | | | | | $ | 1,338,525 | | |
| | | 2019 | | | | | | 225,000 | | | | | | 225,000 | | | | | | 332,615 | | | | | | 349,600 | | | | | | — | | | | | | 1,200 | | | | | | 1,133,415 | | | ||
| | | 2018 | | | | | | 225,000 | | | | | | 225,000 | | | | | | — | | | | | | 818,500 | | | | | | — | | | | | | 2,400 | | | | | | 1,270,900 | | | ||
David H. Watson
Senior Vice President, Chief Financial Officer, Treasurer and Corporate Secretary |
| | | | 2020 | | | | | $ | 200,000 | | | | | $ | 180,000 | | | | | $ | 355,970 | | | | | $ | 373,890 | | | | | $ | — | | | | | $ | 1,380 | | | | | $ | 1,111,240 | | |
| | | 2019 | | | | | | 200,000 | | | | | | 200,000 | | | | | | 266,092 | | | | | | 279,680 | | | | | | — | | | | | | 1,850 | | | | | | 947,622 | | | ||
| | | 2018 | | | | | | 200,000 | | | | | | 200,000 | | | | | | — | | | | | | 654,800 | | | | | | — | | | | | | 3,600 | | | | | | 1,058,400 | | | ||
William F. Griffin, Jr.
Chief Executive Officer, Gemma |
| | | | 2020 | | | | | $ | 1,387,821 | | | | | $ | 1,612,179 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 29,200 | | | | | $ | 3,029,200 | | |
| | | 2019 | | | | | | 1,000,000 | | | | | | 1,940,000 | | | | | | — | | | | | | — | | | | | | 2,060,000 | | | | | | 36,700 | | | | | | 5,036,700 | | | ||
| | | 2018 | | | | | | 1,000,000 | | | | | | — | | | | | | — | | | | | | — | | | | | | 4,000,000 | | | | | | 39,600 | | | | | | 5,039,600 | | | ||
Charles E. Collins IV
Co-President, Gemma(5) |
| | | | 2020 | | | | | $ | 291,667 | | | | | $ | — | | | | | $ | — | | | | | $ | 86,732 | | | | | $ | 450,000 | | | | | $ | 29,200 | | | | | $ | 857,599 | | |
T. Colin Trebilcock
Co-President, Gemma(5) |
| | | | 2020 | | | | | $ | 291,667 | | | | | $ | — | | | | | $ | — | | | | | $ | 86,732 | | | | | $ | 450,000 | | | | | $ | 29,200 | | | | | $ | 857,599 | | |
Executive Officer
|
| |
Base
Salary |
| |
Cash Incentive
Payments |
| |
Health Care
Benefits/Other |
| |
Totals
|
| ||||||||||||
Rainer H. Bosselmann
|
| | | $ | 450,000(1) | | | | | $ | 200,000(2) | | | | | $ | 62,127(1) | | | | | $ | 712,127 | | |
David H. Watson
|
| | | | 100,000(3) | | | | | | 180,000(2) | | | | | | 13,921(3) | | | | | | 293,921 | | |
William F. Griffin, Jr.
|
| | | | 3,000,000(4) | | | | | | 1,612,179(5) | | | | | | 23,439(4) | | | | | | 4,635,618 | | |
Charles E. Collins IV
|
| | | | 315,000(4) | | | | | | 450,000(5) | | | | | | 41,793(4) | | | | | | 806,793 | | |
T. Colin Trebilcock
|
| | | | 315,000(4) | | | | | | 450,000(5) | | | | | | 8,913(4) | | | | | | 773,913 | | |
Name
|
| |
Grant Date(1)
|
| |
Number of Shares of
Common Stock Underlying the Award |
| |
Exercise
Price/Share |
| |
Grant Date
Fair Value of Stock Option Awards(2) |
| ||||||||||||
Rainer H. Bosselmann
|
| | | | 4/12/2019 | | | | | | 40,000 | | | | | $ | 50.30 | | | | | $ | 467,365 | | |
David H. Watson
|
| | | | 4/12/2019 | | | | | | 32,000 | | | | | | 50.30 | | | | | | 373,890 | | |
Charles E. Collins IV
|
| | | | 9/10/2019 | | | | | | 10,000 | | | | | | 42.31 | | | | | | 86,700 | | |
T. Colin Trebilcock
|
| | | | 9/10/2019 | | | | | | 10,000 | | | | | | 42.31 | | | | | | 86,700 | | |
Name
|
| |
Grant Date(1)
|
| |
Estimated Future Payouts
Under Performance-Based Restricted Stock Units(2) |
| |
Grant Date
Fair Value of Restricted Stock Units(6) |
| |||||||||||||||||||||
|
Threshold(3)
|
| |
Target(4)
|
| |
Maximum(5)
|
| |||||||||||||||||||||||
Rainer H. Bosselmann
|
| | | | 4/12/2019 | | | | | | — | | | | | | 10,000 | | | | | | 20,000 | | | | | $ | 444,960 | | |
David H. Watson
|
| | | | 4/12/2019 | | | | | | — | | | | | | 8,000 | | | | | | 16,000 | | | | | | 355,970 | | |
Name
|
| |
Number of Securities Underlying
Unexercised Stock Options |
| |
Exercise
Price/Share |
| |
Expiration
Date |
| |||||||||||||||
|
Exercisable
|
| |
Unexercisable
|
| ||||||||||||||||||||
Rainer H. Bosselmann | | | | | 25,000 | | | | | | — | | | | | $ | 16.37 | | | | | | 3/7/2023 | | |
| | | | | 50,000 | | | | | | — | | | | | | 32.68 | | | | | | 4/16/2025 | | |
| | | | | 50,000 | | | | | | — | | | | | | 33.85 | | | | | | 4/13/2026 | | |
| | | | | 50,000 | | | | | | — | | | | | | 64.25 | | | | | | 4/6/2027 | | |
| | | | | 13,333 | | | | | | 26,667 | | | | | | 37.60 | | | | | | 4/13/2028 | | |
| | | | | — | | | | | | 40,000 | | | | | | 50.30 | | | | | | 4/12/2029 | | |
David H. Watson | | | | | 30,000 | | | | | | — | | | | | $ | 41.68 | | | | | | 6/23/2026 | | |
| | | | | 40,000 | | | | | | — | | | | | | 64.25 | | | | | | 4/6/2027 | | |
| | | | | 10,667 | | | | | | 21,333 | | | | | | 37.60 | | | | | | 4/13/2028 | | |
| | | | | — | | | | | | 32,000 | | | | | | 50.30 | | | | | | 4/12/2029 | | |
William F. Griffin, Jr. | | | | | 10,000 | | | | | | — | | | | | $ | 18.87 | | | | | | 12/18/2022 | | |
Charles E. Collins IV | | | | | 3,334 | | | | | | 1,666 | | | | | $ | 46.35 | | | | | | 1/11/2028 | | |
| | | | | 8,333 | | | | | | 16,667 | | | | | | 43.10 | | | | | | 9/12/2028 | | |
| | | | | — | | | | | | 10,000 | | | | | | 42.31 | | | | | | 9/10/2029 | | |
T. Colin Trebilcock | | | | | 3,334 | | | | | | 1,666 | | | | | $ | 46.35 | | | | | | 1/11/2028 | | |
| | | | | 8,333 | | | | | | 16,667 | | | | | | 43.10 | | | | | | 9/12/2028 | | |
| | | | | — | | | | | | 10,000 | | | | | | 42.31 | | | | | | 9/10/2029 | | |
| | |
Outstanding Performance-Based Restricted Stock Units
|
| |||||||||||||||
Name
|
| |
Number of
Shares(1) |
| |
Market
Price/Share(2) |
| |
Market
Price(3) |
| |||||||||
Rainer H. Bosselmann
|
| | | | 20,000 | | | | | $ | 42.11 | | | | | $ | 842,200 | | |
| | | | | 20,000 | | | | | | 42.11 | | | | | | 842,200 | | |
David H. Watson
|
| | | | 16,000 | | | | | $ | 42.11 | | | | | $ | 673,760 | | |
| | | | | 16,000 | | | | | | 42.11 | | | | | | 673,760 | | |
Named Executive Officer
|
| |
Executive
Contributions(1) |
| |
Registrant
Contributions(1) |
| |
Total
Compensation(1) |
| |
Withdrawals/
Distributions(1) |
| |
Balances at
January 31, 2020(2) |
| |||||||||||||||
Charles E. Collins IV
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 550,000 | | |
T. Colin Trebilcock
|
| | | | — | | | | | | — | | | | | | — | | | | | | — | | | | | | 500,000 | | |