Patrick E. Bowe - 03 Mar 2025 Form 4 Insider Report for Andersons, Inc. (ANDE)

Role: Director
Signature: Patrick E. Bowe, by Melissa Trippel, Limited Power of Attorney
Issuer symbol: ANDE
Transactions as of: 03 Mar 2025
Net transactions value: -$490,558
Form type: 4
Filing time: 04 Mar 2025, 16:36:14 UTC
Previous filing: 12 Feb 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	+6,777	+5.7%	$0.000000	125,419	03 Mar 2025	Direct
transaction	ANDE	Common Stock	Options Exercise	$0	+8,747	+7%	$0.000000	134,166	03 Mar 2025	Direct
transaction	ANDE	Common Stock	Options Exercise	$0	+9,134	+6.8%	$0.000000	143,300	03 Mar 2025	Direct
transaction	ANDE	Common Stock	Award	$0	+907	+0.63%	$0.000000	144,207	03 Mar 2025	Direct	F1
transaction	ANDE	Common Stock	Tax liability	$490,558	-11,467	-8%	$42.78	132,740	03 Mar 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 (2027)	Options Exercise		-6,777	-33%		13,551	03 Mar 2025	Common Stock	6,777		Direct	F3, F4
transaction	ANDE	RESTRICTED SHARE UNIT (2026)	Options Exercise		-8,747	-50%		8,746	03 Mar 2025	Common Stock	8,747		Direct	F3, F5
transaction	ANDE	RESTRICTED SHARE UNIT (2025)	Options Exercise		-9,134	-100%		0	03 Mar 2025	Common Stock	9,134		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.