Brian A. Valentine - Mar 3, 2025 Form 4 Insider Report for Andersons, Inc. (ANDE)

Role: EVP & Chief Financial Officer
Signature: Brian A. Valentine, by Melissa Trippel, Limited Power of Attorney
Stock symbol: ANDE
Transactions as of: Mar 3, 2025
Transactions value $: -$98,736
Form type: 4
Date filed: 3/4/2025, 04:34 PM
Previous filing: Feb 12, 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	+1.76K	+2.11%	$0.00	85.3K	Mar 3, 2025	Direct
transaction	ANDE	Common Stock	Options Exercise	$0	+2.84K	+3.33%	$0.00	88.1K	Mar 3, 2025	Direct
transaction	ANDE	Common Stock	Options Exercise	$0	+2.97K	+3.37%	$0.00	91.1K	Mar 3, 2025	Direct
transaction	ANDE	Common Stock	Award	$0	+287	+0.32%	$0.00	91.4K	Mar 3, 2025	Direct	F1
transaction	ANDE	Common Stock	Tax liability	-$98.7K	-2.31K	-2.53%	$42.78	89K	Mar 3, 2025	Direct	F2

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	RESTRICTED SHARE UNIT (2028)	Award		+6.81K			6.81K	Mar 3, 2025	Common Stock	6.81K		Direct	F3, F4
transaction	ANDE	RESTRICTED SHARE UNIT (2027)	Options Exercise		-1.76K	-33.35%		3.52K	Mar 3, 2025	Common Stock	1.76K		Direct	F3, F5
transaction	ANDE	RESTRICTED SHARE UNIT (2026)	Options Exercise		-2.84K	-50.01%		2.84K	Mar 3, 2025	Common Stock	2.84K		Direct	F3, F6
transaction	ANDE	RESTRICTED SHARE UNIT (2025)	Options Exercise		-2.97K	-100%		0	Mar 3, 2025	Common Stock	2.97K		Direct	F3, F7

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

Explanation of Responses:

Id	Content
F1	Shares in lieu of cash dividend.
F2	Shares withheld to cover tax liability.
F3	Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock.
F4	Restricted share units were granted on March 3, 2025 as part of the Issuer's annual equity grant. Restricted share units have a graded vesting schedule over the three-year period from date of grant.
F5	Restricted share units were granted on March 1, 2024 as part of the Issuer's annual equity grant. Restricted share units have a graded vesting schedule over the three-year period from date of grant.
F6	Restricted share units were granted on March 1, 2023 as part of the Issuer's annual equity grant. Restricted share units have a graded vesting schedule over the three-year period from date of grant.
F7	Restricted share units were granted on March 2, 2022 as part of the Issuer's annual equity grant. Restricted share units have a graded vesting schedule over the three-year period from date of grant.