Andersons (ANDE) Form 4/A: Director Receives 9.65 Shares In Lieu of Cash

Rhea-AI Filing Summary

Andersons, Inc. (ANDE) Form 4/A: Director Steven K. Campbell reported an amended Form 4 showing an acquisition of 9.65 shares of Common Stock on 05/09/2025 received as shares in lieu of a cash dividend at a reported price of $0. After the transaction, Mr. Campbell's beneficial ownership is reported as 6,911.49 shares held directly. The filing was amended.

Insights

Corporate Governance Expert

TL;DR: Routine dividend reinvestment increased a director's direct shareholding by a very small amount.

This Form 4/A documents a non-derivative acquisition of 9.65 common shares by Director Steven K. Campbell, acquired as shares in lieu of a cash dividend. The transaction is reported as direct ownership and results in 6,911.49 shares beneficially owned. From a governance standpoint this is a routine, non-disclosable change in control or influence and does not indicate any material shift in alignment between management and shareholders.

Securities Analyst

TL;DR: Small, non-cash share issuance to a director; no material impact on ownership percentages or control.

The reported acquisition was executed through shares issued instead of cash dividend (per the explanation). The acquisition price is listed as $0, consistent with in-kind dividend conversion rather than an open-market purchase. The change in absolute share count (+9.65) is immaterial relative to the reported post-transaction holding of 6,911.49 shares, and therefore unlikely to affect valuation metrics or investor perception.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Campbell Steven K.

(Last) (First) (Middle)

1947 BRIARFIELD BLVD.

(Street)

MAUMEE OH 43537

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Andersons, Inc. [ ANDE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/09/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
05/12/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/09/2025		A(1)		9.65	A	$0	6,911.49	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares in lieu of cash dividend.

Remarks:

	Steven K. Campbell, by Melissa Trippel, Limited Power of Attorney	08/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did Steven K. Campbell report on the ANDE Form 4/A?

He reported an acquisition of 9.65 shares of Andersons, Inc. common stock, recorded as shares received in lieu of a cash dividend.

When was the reported transaction for ANDE executed?

The transaction date reported on the form is 05/09/2025.

How many Andersons (ANDE) shares does Steven K. Campbell beneficially own after the transaction?

Following the reported transaction he beneficially owns 6,911.49 shares, held directly.

Was the Form 4 filing for this ANDE transaction amended?

Yes, the filing is an amended Form 4 (Form 4/A) as indicated in the document title.

What is the stated reason for the acquisition on the ANDE Form 4/A?

The form's explanation states the shares were received as shares in lieu of a cash dividend.