Andersons (ANDE) Amended Form 4 Shows Dividend Reinvestment for Director

Rhea-AI Filing Summary

Insider transaction summary for Andersons, Inc. (ANDE) Ross W. Manire, a company director, reported an amended Form 4 showing a non‑derivative acquisition on 05/09/2025. The filing states shares were received in lieu of a cash dividend (noted in the explanation). The reported transaction line shows an acquisition of 9.65 shares at a price of $0, and total beneficial ownership following the transaction of 33,567.182 shares held directly. The form indicates it is an amendment and includes a signature block executed under a limited power of attorney.

Positive

• Shares received in lieu of cash dividend are clearly disclosed
• Total direct beneficial ownership after the transaction is provided (33,567.182 shares)
• Amendment and power of attorney are documented, improving disclosure completeness

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine dividend reinvestment increased a director's direct holdings modestly; no cash paid for the shares.

The filing documents a non‑derivative acquisition where shares were issued in lieu of a cash dividend, increasing the reporting person’s direct beneficial ownership to 33,567.182 shares. The acquisition quantity shown is 9.65 shares at a reported price of $0, consistent with dividend‑in‑kind treatment. This disclosure is informational and does not indicate additional compensation or option activity.

Corporate Governance Expert

TL;DR: Amended Form 4 properly discloses a dividend reinvestment; signature via limited power of attorney is documented.

The report is marked as an amendment and includes an explanatory remark that the shares were issued in lieu of a cash dividend. The signature area shows the form was signed by Melissa Trippel under a limited power of attorney for Ross W. Manire, which is a standard practice for filings when the reporting person delegates execution. No indication of unusual or compensatory transactions is present in the filing text.

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

OMB APPROVAL

OMB Number:			3235-0287
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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^*

MANIRE ROSS W

(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	33,567.182	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:

	Ross W. Manire, 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 did Ross W. Manire report on the amended Form 4 for ANDE?

The amended Form 4 reports a non‑derivative acquisition on 05/09/2025 where 9.65 shares were received in lieu of a cash dividend and total direct beneficial ownership is 33,567.182 shares.

Why is the transaction price listed as $0 on the Form 4?

The filing shows the shares were issued in lieu of a cash dividend, and the transaction line reports a price of $0 consistent with dividend‑in‑kind issuance as stated in the explanation.

Was the Form 4 amended and who signed it?

Yes, the filing is marked as an amendment and the signature block shows the form was executed by Melissa Trippel under a limited power of attorney for Ross W. Manire.

Does the Form 4 disclose any derivative transactions or option exercises?

No. Table II for derivative securities contains no reported transactions; only a non‑derivative acquisition is disclosed.

What is the reporting person’s relationship to Andersons, Inc.?

The form identifies Ross W. Manire as a Director of Andersons, Inc.