Sarah Zibbel - 02 Mar 2026 Form 4 Insider Report for Andersons, Inc. (ANDE)

Role: EVP & Chief HR Officer
Signature: Sarah J. Zibbel, by Melissa Trippel, Limited Power of Attorney
Issuer symbol: ANDE
Transactions as of: 02 Mar 2026
Net transactions value: $0
Form type: 4
Filing time: 04 Mar 2026, 11:46:08 UTC
Previous filing: 04 Sep 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Zibbel Sarah	EVP & Chief HR Officer	1947 BRIARFIELD BLVD, MAUMEE	Sarah J. Zibbel, by Melissa Trippel, Limited Power of Attorney	04 Mar 2026	0001736264

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ANDE	Common Stock	Options Exercise		+758	+24%	$0.000000^*	3,920	02 Mar 2026	Direct
transaction	ANDE	Common Stock	Options Exercise		+602	+15%	$0.000000^*	4,522	02 Mar 2026	Direct
transaction	ANDE	Common Stock	Award		+23	+0.52%	$0.000000^*	4,546	02 Mar 2026	Direct	F1
transaction	ANDE	Common Stock	Tax liability		-487	-11%	$65.29^*	4,059	02 Mar 2026	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 (2029)	Award		+1,865			1,865	02 Mar 2026	Common Stock	1,865		Direct	F3, F4
transaction	ANDE	RESTRICTED SHARE UNIT (2028)	Options Exercise		-758	-33%		1,514	02 Mar 2026	Common Stock	758		Direct	F3, F5
transaction	ANDE	RESTRICTED SHARE UNIT (2027)	Options Exercise		-602	-50%		602	02 Mar 2026	Common Stock	602		Direct	F3, F6
holding	ANDE	RESTRICTED SHARE UNIT (2026)						1,944	02 Mar 2026	Common Stock	1,944		Direct	F3, F7

* 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	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 2, 2026 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 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.
F6	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.
F7	Restricted share units were granted on September 7, 2023 in connection with Ms. Zibbel's hiring. Restricted share units have a graded vesting schedule over the three-year period from date of grant.