Andersons director reports RSU grant and exercise

Andersons, Inc. director Robert J. King Jr. reported compensation-related stock activity with no open-market buying or selling.

Rhea-AI Filing Summary

Andersons, Inc. director Robert J. King Jr. reported compensation-related stock activity with no open-market buying or selling. On May 7, 2026, he received 39.089 shares of common stock in lieu of a cash dividend and exercised 3,376 restricted share units (2026) into common stock.

He was also granted 1,746 restricted share units (2027), each convertible into one share of common stock, as part of the company’s annual equity grant program, which vests one year from grant. Following these transactions, he holds 11,934.369 shares of common stock directly, 43,091.902 shares indirectly through a trust, and 1,746 restricted share units.

Insider Trade Summary

3,376 shares exercised/converted

Exercise 5 txns

Insider KING ROBERT J JR

Role Director

Type	Security	Shares	Price	Value
Exercise	RESTRICTED SHARE UNIT (2026)	3,376	$0.00	$0.00
Grant/Award	RESTRICTED SHARE UNIT (2027)	1,746	$0.00	$0.00
Exercise	Common Stock	3,376	$0.00	$0.00
Grant/Award	Common Stock	39.089	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: RESTRICTED SHARE UNIT (2026) — 0 contracts (Direct); RESTRICTED SHARE UNIT (2027) — 1,746 contracts (Direct); Common Stock — 11,934.369 shares (Direct); Common Stock — 43,091.902 shares (Indirect, Robert J. King Jr. Trust u/a dated Dec. 20, 2013)

Footnotes (4)

1. F1. Shares in lieu of cash dividend.
2. F2. Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock.
3. F3. Restricted share units were granted on May 8, 2025 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.
4. F4. Restricted share units were granted on May 7, 2026 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.

Key Figures

Dividend shares received: 39.089 shares RSUs exercised (2026): 3,376 units New RSU grant (2027): 1,746 units +3 more

6 metrics

Dividend shares received 39.089 shares Common stock in lieu of cash dividend on May 7, 2026

RSUs exercised (2026) 3,376 units Restricted share units (2026) converted into common stock

New RSU grant (2027) 1,746 units Restricted share units (2027) granted, vesting one year from May 7, 2026

Direct common stock holdings 11,934.369 shares Shares of Andersons common stock held directly after transactions

Indirect trust holdings 43,091.902 shares Common stock held indirectly via Robert J. King Jr. Trust

RSUs outstanding 1,746 units Restricted share units (2027) outstanding after transactions

Key Terms

Restricted share unit, in lieu of cash dividend, annual equity grant, derivative exercise/conversion, +1 more

5 terms

Restricted share unit financial

"Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock."

A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.

in lieu of cash dividend financial

"Shares in lieu of cash dividend."

annual equity grant financial

"Restricted share units were granted on May 7, 2026 as part of the Issuer's annual equity grant."

derivative exercise/conversion financial

"transaction_action: derivative exercise/conversion"

indirect ownership financial

"direct_or_indirect: I, nature_of_ownership: Robert J. King Jr. Trust"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Andersons (ANDE) director Robert J. King Jr. report in this Form 4?

He reported compensation-related stock activity, including dividend-paid shares, an RSU exercise, and a new RSU grant. There were no open-market purchases or sales; all changes stem from equity awards and dividend equivalents.

How many Andersons (ANDE) shares does Robert J. King Jr. now hold directly and indirectly?

After the reported transactions, he holds 11,934.369 shares of common stock directly and 43,091.902 shares indirectly through the Robert J. King Jr. Trust. These figures reflect his updated ownership position disclosed in the filing.

What restricted share units did Robert J. King Jr. receive from Andersons (ANDE)?

He received a grant of 1,746 restricted share units (2027), each representing one share of Andersons common stock upon vesting. The units were granted as part of the annual equity grant and vest one year from the May 7, 2026 grant date.

What is the significance of the 3,376 Andersons (ANDE) restricted share units exercised?

He exercised 3,376 restricted share units (2026) into common stock at a stated price of $0.00 per unit, converting prior equity awards into shares. This is a routine derivative exercise, not an open-market stock purchase.

Why did Robert J. King Jr. receive 39.089 Andersons (ANDE) shares at $0.00?

The 39.089 common shares were received in lieu of a cash dividend, according to the footnotes. Instead of a cash payment, he was credited with additional shares, a common feature of dividend reinvestment structures.

Does this Andersons (ANDE) Form 4 indicate insider buying or selling on the market?

No, the filing shows no open-market buys or sells. All activity involves equity awards, restricted share unit grants, an RSU exercise, and dividend-paid shares, which are standard elements of director compensation rather than discretionary trading.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/08/2026 - 12:23 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^*

KING ROBERT J JR

(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)
05/07/2026

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	05/07/2026		M		3,376	A	$0	11,895.28	D
Common Stock	05/07/2026		A(1)		39.089	A	$0	11,934.369	D
Common Stock								43,091.902	I	Robert J. King Jr. Trust u/a dated Dec. 20, 2013

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
RESTRICTED SHARE UNIT (2026)	(2)	05/07/2026		M			3,376	(3)	(3)	Common Stock	3,376	(2)	0	D
RESTRICTED SHARE UNIT (2027)	(2)	05/07/2026		A		1,746		(4)	(4)	Common Stock	1,746	(2)	1,746	D

Explanation of Responses:

1. Shares in lieu of cash dividend.

2. Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock.

3. Restricted share units were granted on May 8, 2025 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.

4. Restricted share units were granted on May 7, 2026 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.

Remarks:

	Robert J. King Jr., by Melissa Trippel, Limited Power of Attorney	05/08/2026
	** 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)