Companies Argan
Argan (AGX): executive pay, fiscal 2026
Free brief. Every figure links to the company’s own filing.
Velarion Intel: free for 3 days, no card →Email me Argan’s executive pay brief as a PDF
You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.
After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.
CEO vs. named peers25th pct.Of 9 peer CEOs
CEO pay, last three years
- $1,867,181FY2024
- $2,259,258FY2025
- $2,668,098FY2026
CEO total pay was $2,668,098 in fiscal 2026, up from $2,259,258 in fiscal 2025.
FY2026: salary $500,000 · bonus $500,000 · stock awards $1,547,260 · option awards $86,500
Executives and directors
Charles Collins IV · Chief Executive Officer, GemmaDavid Watson · CEOJoshua Baugher · CFOCynthia A. Flanders · Independent DirectorJames W. Quinn · Independent DirectorJohn R. Jeffrey Jr · Independent DirectorKaren A. Sweeney · Independent DirectorLisa L. Alexander · Independent DirectorPeter W. Getsinger · Independent DirectorWilliam F. Griffin Jr · DirectorWilliam F. Leimkuhler · Chair of the Board
Frequently asked questions
Who was the highest-paid executive at Argan in fiscal 2026?
As disclosed, Charles Collins IV (Chief Executive Officer, Gemma) was the highest-paid executive at Argan in fiscal 2026, with total compensation of $7,377,838.
How does Argan's chief executive pay compare to its disclosed peer group?
As disclosed, David Watson's total compensation ranked at the 25th percentile of Argan's disclosed peer group.
What is Argan's CEO-to-median employee pay ratio?
As disclosed, Argan's CEO-to-median employee pay ratio was 27:1.
How much does Argan spend in total on board compensation for fiscal 2026?
As disclosed, Argan reported total board compensation of $1,339,596 for fiscal 2026.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Charles Collins IV | $794,360 | $1,500,000 | $735,020 | $43,250 | $4,000,000 | — | $305,208 | $7,377,838 |
| Chief Executive Officer, Gemma | ||||||||
| David Watson | 500,000 | 500,000 | 1,547,260 | 86,500 | 0 | — | 34,338 | 2,668,098 |
| President and Chief Executive Officer | ||||||||
| Joshua Baugher | 250,000 | 250,000 | 773,630 | 43,250 | 0 | — | 34,338 | 1,351,218 |
| Senior Vice President, Chief Financial Officer, and Treasurer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2026 total | FY2025 total | FY2024 total | Δ FY2025→2026 |
|---|---|---|---|---|
| Charles Collins IV | $7,377,838 | $4,713,404 | $2,447,723 | ↑ +2,664,434 |
| David Watson | 2,668,098 | 2,259,258 | 1,867,181 | ↑ +408,840 |
| Joshua Baugher | 1,351,218 | 678,708 | — | ↑ +672,510 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The Company's executive compensation program is designed to attract, retain, and motivate high-performing executives by aligning their interests with those of stockholders through a mix of cash and equity-based compensation.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | true |
| Anti-hedging | — |
| Anti-pledging | — |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2026
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Joshua Baugher | PSU | 2025-04-16 | — | 3,750 | — | 7,500 | $278,850 |
| Charles Collins IV | PSU | 2025-04-16 | — | 500 | — | 1,000 | 65,780 |
| Charles Collins IV | PSU | 2025-04-16 | — | 3,000 | — | 6,000 | 223,080 |
| David Watson | PSU | 2025-04-16 | — | 3,000 | — | 6,000 | 394,680 |
| David Watson | RSU | 2025-04-16 | — | — | 4,000 | — | 594,880 |
| Charles Collins IV | PSU | 2025-04-16 | — | 2,500 | — | 2,500 | 148,720 |
| Joshua Baugher | RSU | 2025-04-16 | — | — | 2,000 | — | 297,440 |
| Joshua Baugher | PSU | 2025-04-16 | — | 1,500 | — | 3,000 | 197,340 |
| Charles Collins IV | RSU | 2025-04-16 | — | — | 2,000 | — | 297,440 |
| David Watson | PSU | 2025-04-16 | — | 7,500 | — | 15,000 | 557,700 |
| Joshua Baugher | OPTION | 2025-04-16 | — | — | 1,000 | — | 43,250 |
| Charles Collins IV | OPTION | 2025-04-16 | — | — | 1,000 | — | 43,250 |
| David Watson | OPTION | 2025-04-16 | — | — | 2,000 | — | 86,500 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Joshua Baugher | $297,440 | $476,190 | $43,250 | 58.3% |
| Charles Collins IV | 297,440 | 437,580 | 43,250 | 56.2% |
| David Watson | 594,880 | 952,380 | 86,500 | 58.3% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2026
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Charles Collins IV | Option | 834 | 39.47 | — |
| Joshua Baugher | Option | 1,000 | 61.22 | — |
| Charles Collins IV | Option | 1,000 | 61.22 | — |
| Joshua Baugher | Option | 1,000 | 148.72 | — |
| Charles Collins IV | Option | 1,000 | 148.72 | — |
| David Watson | Option | 1,666 | 39.47 | — |
| David Watson | Option | 2,000 | 61.22 | — |
| David Watson | Option | 2,000 | 148.72 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Lisa L. AlexanderIndependent · Nominating/Corporate Governance · Responsible Business · Executive · Audit · Compensation · Human Capital | $37,500 | $218,466 | — | — | — | $255,966 |
| William F. LeimkuhlerIndependent · Board Chair · EXECUTIVE (Chair) | 115,000 | 115,105 | — | — | — | 230,105 |
| John R. Jeffrey JrIndependent · Audit · Responsible Business · Compensation · Nominating/Governance | 66,000 | 115,105 | — | — | — | 181,105 |
| Peter W. GetsingerIndependent · Audit · Compensation · Nominating/Governance | 56,000 | 115,105 | — | — | — | 171,105 |
| Karen A. SweeneyIndependent · Audit · Responsible Business (Chair) · Compensation · Nominating/Governance | 54,500 | 115,105 | — | — | — | 169,605 |
| Cynthia A. FlandersIndependent · NOMINATING/ CORPORATE GOVERNANCE (Chair) | 51,500 | 115,105 | — | — | — | 166,605 |
| James W. QuinnIndependent · COMPENSATION (Chair) | 50,000 | 115,105 | — | — | — | 165,105 |
| William F. Griffin JrEmployee director · Executive · Audit · Compensation · Nominating/Governance | — | — | — | — | — | 0 |
| David H. WatsonEmployee director · Responsible Business · Executive · Compensation · Nominating/Governance · Audit | — | — | — | — | — | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 10,000 |
| Stock ownership guideline | $400,000 |
Total cost of the board
| Component | FY2026 |
|---|---|
| Cash retainers and fees | $430,500 |
| Equity awards (grant-date value) | $909,096 |
| All other compensation | $0 |
| Total cost of the board | $1,339,596 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names Argan as a peer
Companies that benchmark against AGX
7 companies name AGX as a compensation peer
The list of companies that name AGX as a peer is temporarily unavailable — recheck shortly.
Disclosed peer group — fiscal year 2026
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
SOLV Energy, Inc.PRIM Primoris Services CorporationLMB Limbach Holdings, Inc.MTRX Matrix Service CompanyMYRG MYR Group Inc.GVA Granite Construction IncorporatedSTRL Sterling Construction Company, Inc.NPKI NPK International Inc.TISI Team, Inc.
Peer reciprocity
The companies Argan names as compensation peers that name it back in their own disclosed peer groups.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Granite Construction Incorporated | 2025 | Kyle Larkin | $1,000,000 | $7,178,777 | $0 | $1,612,935 | $9,861,425 |
| 2 | Sterling Construction Company, Inc. | 2025 | Joseph Cutillo | 1,100,000 | 4,675,000 | 0 | 2,530,000 | 8,414,685 |
| 3 | NPK International Inc. | 2025 | Matthew Lanigan | 754,000 | 4,058,537 | 0 | 3,339,632 | 8,196,160 |
| 4 | Matrix Service Company | 2026 | John Hewitt | 800,000 | 3,981,443 | 0 | 291,478 | 6,741,465 |
| 5 | MYR Group Inc. | 2025 | Richard Swartz | 941,461 | 3,837,846 | 0 | 1,572,514 | 6,387,221 |
| 6 | Limbach Holdings, Inc. | 2025 | Michael McCann | 800,000 | 1,192,150 | 0 | 741,306 | 2,759,456 |
| 7 | Argan | 2026 | David Watson | 500,000 | 1,547,260 | 86,500 | 0 | 2,668,098 |
| 8 | Primoris Services Corporation | 2025 | Koti Vadlamudi | 115,385 | 900,104 | 0 | 0 | 2,176,941 |
| 9 | Team, Inc. | 2025 | Keith Tucker | 750,000 | 0 | 0 | 495,119 | 1,265,655 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Argan | not disclosed | not disclosed | not disclosed | not disclosed |
| Granite Construction Incorporated | 134% | PSU 75 · RSU 25 | Yes — Relative TSR | FW Cook |
| Limbach Holdings, Inc. | not disclosed | PRSU 67 · RSU 33 | not disclosed | CAP |
| Matrix Service Company | not disclosed | RSU 50 · PSU 50 | No | Pay Governance |
| MYR Group Inc. | 165.5% | PSU 70 · RSU 30 | Yes — TSR | Mercer |
| NPK International Inc. | not disclosed | RSU 50 · PRSU 50 | not disclosed | Zayla Partners, LLC |
| Primoris Services Corporation | 190% | PSU 65 · RSU 35 | No | Meridian Compensation Partners |
| Sterling Construction Company, Inc. | not disclosed | PSU 60 · RSU 40 | Yes — Relative Total Shareholder Return (TSR) | Meridian Compensation Partners, LLC |
| Team, Inc. | not disclosed | PSU 70 · RSU 30 | No | Willis Towers Watson (WTW) |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
No say-on-pay vote is on file for this company.
CEO pay ratio
| Ratio (CEO : median employee) | 27 : 1 |
|---|---|
| CEO total compensation | $2,668,098 |
| Median employee compensation | $100,368 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (40 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Charles Collins IV. DEF 14A, filed 2026-04-21. Section “Summary Compensation Table”. As printed: 7,377,838. View filing ↗
- Section 01, David Watson. DEF 14A, filed 2026-04-21. Section “Summary Compensation Table”. As printed: 2,668,098. View filing ↗
- Section 01, Joshua Baugher. DEF 14A, filed 2026-04-21. Section “Summary Compensation Table”. As printed: 1,351,218. View filing ↗
- Section 03, Joshua Baugher PSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Collins IV PSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Collins IV PSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, David Watson PSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, David Watson RSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Collins IV PSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, Joshua Baugher RSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, Joshua Baugher PSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Collins IV RSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, David Watson PSU. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, Joshua Baugher OPTION. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, Charles Collins IV OPTION. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 03, David Watson OPTION. DEF 14A, filed 2026-04-21. Section “Grants of Plan-Based Awards Tables” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-21. Section “CEO Pay Ratio”. As printed: 27 : 1. View filing ↗
- Section 08, Lisa L. Alexander. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 255,966. View filing ↗
- Section 08, William F. Leimkuhler. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 230,105. View filing ↗
- Section 08, John R. Jeffrey Jr. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 181,105. View filing ↗
- Section 08, Peter W. Getsinger. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 171,105. View filing ↗
- Section 08, Karen A. Sweeney. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 169,605. View filing ↗
- Section 08, Cynthia A. Flanders. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 166,605. View filing ↗
- Section 08, James W. Quinn. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 165,105. View filing ↗
- Section 08, William F. Griffin Jr. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, David H. Watson. DEF 14A, filed 2026-04-21. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 430,500 + equity 909,096 + all other 0 = 1,339,596, summed across the director compensation table rows.
- Granite Construction Incorporated, Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Granite Construction Incorporated's own proxy. As printed: 9,861,425. View filing ↗
- Sterling Construction Company, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Sterling Construction Company, Inc.'s own proxy. As printed: 8,414,685. View filing ↗
- NPK International Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in NPK International Inc.'s own proxy. As printed: 8,196,160. View filing ↗
- Matrix Service Company, Section 10b CEO total. DEF 14A, filed 2026-09-23. CEO total compensation as printed in Matrix Service Company's own proxy. As printed: 6,741,465. View filing ↗
- MYR Group Inc., Section 10b CEO total. DEF 14A, filed 2026-03-04. CEO total compensation as printed in MYR Group Inc.'s own proxy. As printed: 6,387,221. View filing ↗
- Limbach Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Limbach Holdings, Inc.'s own proxy. As printed: 2,759,456. View filing ↗
- Argan (subject), Section 10b CEO total. DEF 14A, filed 2026-04-21. CEO total compensation as printed in Argan's own proxy. As printed: 2,668,098. View filing ↗
- Primoris Services Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-20. CEO total compensation as printed in Primoris Services Corporation's own proxy. As printed: 2,176,941. View filing ↗
- Team, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Team, Inc.'s own proxy. As printed: 1,265,655. View filing ↗
- Section 10a, Matrix Service Company reciprocity. DEF 14A. Matrix Service Company names Argan in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, NPK International Inc. reciprocity. DEF 14A. NPK International Inc. names Argan in its own disclosed peer group (read from its most recent proxy). View filing ↗