Patrick E. Bowe - 01 Mar 2024 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: 01 Mar 2024
Net transactions value: -$452,301
Form type: 4
Filing time: 05 Mar 2024, 16:51:00 UTC
Previous filing: 22 Feb 2024
Next filing: 07 Mar 2024
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	+8,747	+10%	$0.000000	92,262	01 Mar 2024	Direct
transaction	ANDE	Common Stock	Options Exercise	$0	+9,135	+9.9%	$0.000000	101,397	01 Mar 2024	Direct
transaction	ANDE	Common Stock	Award	$0	+361	+0.36%	$0.000000	101,758	01 Mar 2024	Direct	F1
transaction	ANDE	Common Stock	Tax liability	$452,301	-8,182	-8%	$55.28	93,576	01 Mar 2024	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 (2027)	Award		+20,328			20,328	01 Mar 2024	Common Stock	20,328		Direct	F3, F4
transaction	ANDE	RESTRICTED SHARE UNIT (2026)	Options Exercise		-8,747	-33%		17,493	01 Mar 2024	Common Stock	8,747		Direct	F3, F5
transaction	ANDE	RESTRICTED SHARE UNIT (2025)	Options Exercise		-9,135	-50%		9,134	01 Mar 2024	Common Stock	9,135		Direct	F3, F6

* 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 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.
F5	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.
F6	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.