Patrick E. Bowe - 04 Nov 2021 Form 4 Insider Report for Andersons, Inc. (ANDE)

Role: President & CEO, Director
Signature: Patrick E. Bowe, by Melissa Trippel, Limited Power of Attorney
Issuer symbol: ANDE
Transactions as of: 04 Nov 2021
Net transactions value: -$4,814,586
Form type: 4
Filing time: 08 Nov 2021, 14:00:00 UTC
Next filing: 10 Nov 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ANDE	Common Stock	Sale	$2,819,789	-76,953	-38%	$36.64	122,925	04 Nov 2021	Direct	F1
transaction	ANDE	Common Stock	Sale	$74,084	-2,000	-1.6%	$37.04	120,925	04 Nov 2021	Direct	F2
transaction	ANDE	Common Stock	Sale	$1,763,649	-46,943	-39%	$37.57	73,982	05 Nov 2021	Direct	F3
transaction	ANDE	Common Stock	Options Exercise	$1,076,160	+30,400	+41%	$35.40	104,382	04 Nov 2021	Direct
transaction	ANDE	Common Stock	Options Exercise	$368,231	+10,402	+10%	$35.40	114,784	04 Nov 2021	Direct
transaction	ANDE	Common Stock	Options Exercise	$707,929	+19,998	+17%	$35.40	134,782	05 Nov 2021	Direct
transaction	ANDE	Common Stock	Options Exercise	$951,729	+26,885	+20%	$35.40	161,667	05 Nov 2021	Direct
transaction	ANDE	Common Stock	Options Exercise	$2,124	+60	+0.04%	$35.40	161,727	05 Nov 2021	Direct
holding	ANDE	PERFORMANCE SHARE UNIT (TSR) (2023)						72,268	04 Nov 2021	Direct	F4
holding	ANDE	PERFORMANCE SHARE UNIT (TSR) (2024)						59,542	04 Nov 2021	Direct	F4
holding	ANDE	PERFORMANCE SHARE UNIT (EPS) (2024)						59,542	04 Nov 2021	Direct	F5
holding	ANDE	PERFORMANCE SHARE UNIT (TSR) (2022)						43,346	04 Nov 2021	Direct	F4
holding	ANDE	PERFORMANCE SHARE UNIT (EPS) (2023)						72,268	04 Nov 2021	Direct	F5
holding	ANDE	PERFORMANCE SHARE UNIT (EPS) (2022)						43,346	04 Nov 2021	Direct	F5

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	Common Stock	Options Exercise	$1,114,622	-30,400	-9.4%	$36.67	294,600	04 Nov 2021	Common Stock	30,400	$35.40	Direct
transaction	ANDE	Common Stock	Options Exercise	$384,984	-10,402	-3.5%	$37.01	284,198	04 Nov 2021	Common Stock	10,402	$35.40	Direct
transaction	ANDE	Common Stock	Options Exercise	$751,171	-19,998	-7%	$37.56	264,200	05 Nov 2021	Common Stock	19,998	$35.40	Direct
transaction	ANDE	Common Stock	Options Exercise	$1,010,180	-26,885	-10%	$37.57	237,315	05 Nov 2021	Common Stock	26,885	$35.40	Direct
transaction	ANDE	Common Stock	Options Exercise	$2,281	-60	-0.03%	$38.02	237,255	05 Nov 2021	Common Stock	60	$35.40	Direct
holding	ANDE	Common Stock						325,000	04 Nov 2021	Common Stock	325,000	$35.40	Direct

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

Explanation of Responses:

Id	Content
F1	This transaction was executed in multiple trades at prices ranging from $36.02 to $37.02. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F2	This transaction was executed in multiple trades at prices ranging from $37.04 to $37.05. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F3	This transaction was executed in multiple trades at prices ranging from $37.12 to $38.015. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F4	Stock performance unit (TSR) granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on the Company's annualized total shareholder return. Number of underlying shares are based upon the level of satisfaction of the total shareholder return for the performance period.
F5	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.