Andersons director David Heppner acquires 350 shares

The shares were issued in lieu of all or part of the Board of Director's retainer.

Available on EDGAR 11/04/2026 - 12:33 PM EST Accepted by SEC EDGAR 11/04/2026 - 12:32 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Andersons, Inc. director David R. Heppner acquired 350 shares of common stock on November 2, 2026. He directly held 864 shares following the transaction.

Insider Trade Summary

Grant/Award: 350 shares

Grant/Award 1 txn

Insider Heppner David R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	350	$0.00	$0.00

Holdings After Transaction: Common Stock — 864 shares (Direct)

Footnotes (1)

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

Key Figures

Shares acquired: 350 shares Shares held following transaction: 864 shares Reported transaction price: $0.00 per share

3 metrics

Shares acquired 350 shares November 2, 2026; issued in lieu of all or part of the Board of Director's retainer

Shares held following transaction 864 shares Directly held following the November 2, 2026 transaction

Reported transaction price $0.00 per share November 2, 2026 grant/award acquisition

Key Terms

retainer

1 terms

retainer financial

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

FAQ

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

How many ANDE shares did director David R. Heppner acquire?

He acquired 350 shares of common stock on November 2, 2026. The shares were issued in lieu of all or part of the Board of Director's retainer.

How many ANDE shares did David R. Heppner hold after the transaction?

He directly held 864 shares following the transaction on November 2, 2026.

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

Form 4 Insider Transactions: What Each Field Means →

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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)
11/02/2026

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	11/02/2026		A(1)		350	A	$0	864	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	11/04/2026
	** 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)