Andersons (ANDE) director receives 37-share stock retainer grant

Rhea-AI Filing Summary

For Andersons, Inc. (ANDE), director David R. Heppner reported receiving 37 shares of common stock on 2026-08-24. The filing classifies this as a grant or award acquisition, with a stated price of $0.00 per share. A footnote explains the shares were issued in lieu of all or part of the Board of Director's cash retainer. Following this award, Heppner directly holds 514 common shares of Andersons, Inc.

Insider Trade Summary

Net Buyer: 37 shares

Net Buy 1 txn

Insider Heppner David R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	37	$0.00	$0.00

Holdings After Transaction: Common Stock — 514 shares (Direct)

Footnotes (1)

1. F1. Shares issued in lieu of all or part of Board of Director's retainer.

Key Figures

Shares granted: 37 shares of Common Stock Transaction price per share: $0.00 per share Shares owned after transaction: 514 shares of Common Stock

3 metrics

Shares granted 37 shares of Common Stock Grant, award, or other acquisition on 2026-08-24

Transaction price per share $0.00 per share Recorded for the 37-share grant issued in lieu of Board retainer

Shares owned after transaction 514 shares of Common Stock Direct holdings of David R. Heppner following the 2026-08-24 grant

Key Terms

Grant, award, or other acquisition, Board of Director's retainer, Form 4

3 terms

Grant, award, or other acquisition financial

"transaction code description is "Grant, award, or other acquisition""

Board of Director's retainer financial

"Shares issued in lieu of all or part of Board of Director's retainer"

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

What insider transaction did ANDE director David R. Heppner report?

David R. Heppner reported a grant of 37 shares of Andersons, Inc. common stock on 2026-08-24, classified as a grant, award, or other acquisition. The shares were issued as equity compensation rather than a market purchase.

Was the ANDE insider transaction a market buy or a compensation grant?

The transaction was a compensation grant, not a market buy. A footnote states the 37 shares were issued in lieu of all or part of the Board of Director's retainer, with a recorded per-share price of $0.00.

How many ANDE shares does David R. Heppner hold after this Form 4 transaction?

After the reported transaction, David R. Heppner directly holds 514 shares of Andersons, Inc. common stock, as shown in the post-transaction holdings field of the Form 4.

What transaction code was used in the ANDE Form 4 for this award?

The transaction uses code A, described as a grant, award, or other acquisition of common stock. It reflects equity compensation rather than an open-market trade.

Did the ANDE Form 4 indicate a Rule 10b5-1 trading plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not checked for this transaction, and the footnote does not reference any trading plan.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/26/2026 - 04:18 PM Accepted by SEC EDGAR 08/26/2026 - 04:17 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Heppner David R

(Last) (First) (Middle)

1947 BRIARFIELD BLVD

(Street)

MAUMEE OHIO 43537

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/24/2026

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

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

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

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	08/24/2026		A(1)		37	A	$0	514	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 issued in lieu of all or part of Board of Director's retainer.

Remarks:

	David R. Heppner, by Melissa Trippel, Limited Power of Attorney	08/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)