Patrick E. Bowe - Feb 10, 2025 Form 4 Insider Report for Andersons, Inc. (ANDE)

Role: Director
Signature: Patrick E. Bowe, by Melissa Trippel, Limited Power of Attorney
Stock symbol: ANDE
Transactions as of: Feb 10, 2025
Transactions value $: -$1,013,408
Form type: 4
Date filed: 2/12/2025, 05:48 PM
Previous filing: Jan 6, 2025
Next filing: Mar 4, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ANDE	Common Stock	Options Exercise	$0	+18.9K	+23.59%	$0.00	99.1K	Feb 10, 2025	Direct
transaction	ANDE	Common Stock	Options Exercise	$0	+41.1K	+41.49%	$0.00	140K	Feb 10, 2025	Direct
transaction	ANDE	Common Stock	Award	$0	+3.32K	+2.37%	$0.00	144K	Feb 10, 2025	Direct	F1
transaction	ANDE	Common Stock	Tax liability	-$1.01M	-24.9K	-17.33%	$40.74	119K	Feb 10, 2025	Direct	F2

Showing 1 to 4 of 4 entries

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ANDE	PERFORMANCE SHARE UNIT (TSR) (2025)	Disposed to Issuer		-22.2K	-54%		18.9K	Feb 10, 2025	Common Stock	22.2K		Direct	F3, F4, F5
transaction	ANDE	PERFORMANCE SHARE UNIT (TSR) (2025)	Options Exercise		-18.9K	-100%		0	Feb 10, 2025	Common Stock	18.9K		Direct	F3, F4
transaction	ANDE	PERFORMANCE SHARE UNIT (EPS) (2025)	Options Exercise		-41.1K	-100%		0	Feb 10, 2025	Common Stock	41.1K		Direct	F4, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Dividend equivalent received.
F2	Shares withheld to cover tax liability.
F3	Performance share units (PSUs) represent the right to receive common stock following a 3 year performance period. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.
F4	Each PSU vests and converts to common stock as of February 10, 2025.
F5	PSU Vesting for fewer than allocated shares. Excess shares are being cancelled.
F6	Stock performance unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.