Andersons' Emmanuel Ayuk converts grant to 4,172 shares

Andersons, Inc. EVP, GC & Corp Secretary Emmanuel N. Ayuk reported that on October 2, 2026, 4,172 restricted share units were converted into 4,172 common shares, with a reported RSU position of 8,341 units after the transaction.

Rhea-AI Filing Summary

Andersons, Inc. EVP, GC & Corp Secretary Emmanuel N. Ayuk reported that on October 2, 2026, 4,172 restricted share units were converted into 4,172 common shares, with a reported RSU position of 8,341 units after the transaction. He also acquired 63 common shares in lieu of a cash dividend and had 1,212 common shares withheld to cover tax liability, at a reported $65.70 per share.

Insider Trade Summary

4,172 shares exercised/converted

Exercise 4 txns

Insider Ayuk Emmanuel N

Role EVP, GC & Corp Secretary

Type	Security	Shares	Price	Value
Exercise	RESTRICTED SHARE UNIT (2028) F3, F4	4,172	--	--
Grant/Award	Common Stock F1	63.183	$0.00	$0.00
Exercise	Common Stock	4,172	$0.00	$0.00
Tax Withholding	Common Stock F2	1,212	$65.70	$80K

Holdings After Transaction: RESTRICTED SHARE UNIT (2028) — 8,341 contracts (Direct); Common Stock — 3,023.183 shares (Direct)

Footnotes (4)

1. F1. Shares in lieu of cash dividend.
2. F2. Shares withheld to cover tax liability.
3. F3. Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock.
4. F4. Restricted share units were granted on October 1, 2025 in connection with Mr. Ayuk's hiring. Restricted share units have a graded vesting schedule over the three-year period from date of grant.

Key Figures

Restricted share units converted: 4,172 units Common shares acquired on conversion: 4,172 shares Restricted share unit position after transaction: 8,341 units +3 more

6 metrics

Restricted share units converted 4,172 units October 2, 2026

Common shares acquired on conversion 4,172 shares October 2, 2026

Restricted share unit position after transaction 8,341 units Following the October 2, 2026 transaction

Shares withheld for tax liability 1,212 shares October 2, 2026

Reported price per share withheld $65.70 per share Shares withheld to cover tax liability on October 2, 2026

Shares acquired in lieu of cash dividend 63 shares October 2, 2026; rounded to the nearest whole share

Key Terms

restricted share unit, graded vesting schedule, shares in lieu of cash dividend

3 terms

restricted share unit financial

"Each restricted share unit represents the right to receive, upon vesting"

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.

graded vesting schedule financial

"have a graded vesting schedule over the three-year period"

shares in lieu of cash dividend financial

"Shares in lieu of cash dividend."

FAQ

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

How many ANDE restricted share units did Emmanuel N. Ayuk convert?

4,172 restricted share units were converted into 4,172 common shares on October 2, 2026. His reported RSU position after the transaction was 8,341 units.

How many ANDE shares were withheld for Emmanuel N. Ayuk's taxes?

1,212 common shares were withheld to cover tax liability on October 2, 2026, at a reported $65.70 per share.

When were Emmanuel N. Ayuk's ANDE restricted share units granted, and how did they vest?

The restricted share units were granted on October 1, 2025, in connection with Mr. Ayuk's hiring, and have a graded vesting schedule over the three-year period from the grant date.

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

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Available on EDGAR 10/05/2026 - 03:16 PM Accepted by SEC EDGAR 10/05/2026 - 03:16 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^*

Ayuk Emmanuel N

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, GC & Corp Secretary

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2026

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	10/02/2026		A(1)		63.183	A	$0	63.183	D
Common Stock	10/02/2026		M		4,172	A	$0	4,235.183	D
Common Stock	10/02/2026		F(2)		1,212	D	$65.7	3,023.183	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
RESTRICTED SHARE UNIT (2028)	(3)	10/02/2026		M			4,172	(4)	(4)	Common Stock	4,172	(3)	8,341	D

Explanation of Responses:

1. Shares in lieu of cash dividend.

2. Shares withheld to cover tax liability.

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

4. Restricted share units were granted on October 1, 2025 in connection with Mr. Ayuk's hiring. Restricted share units have a graded vesting schedule over the three-year period from date of grant.

Remarks:

	Emmanuel N. Ayuk, by Melissa Trippel, Limited Power of Attorney	10/05/2026
	** 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)