Andersons director granted restricted share units

Andersons, Inc. director Pamela S. Hershberger reported new equity awards in the form of restricted share units.

Rhea-AI Filing Summary

Andersons, Inc. director Pamela S. Hershberger reported new equity awards in the form of restricted share units. On January 27, 2026, she acquired 10.638 RESTRICTED SHARE UNIT (2024) awards and 7.795 RESTRICTED SHARE UNIT (2025) awards at a price of $0 per unit.

Each restricted share unit represents the right to receive one share of Andersons, Inc. common stock upon vesting. The 2024 units were originally granted on May 5, 2023 and the 2025 units on May 9, 2024, both as part of the company’s annual equity grants and vesting one year from their grant dates. Following these awards, Hershberger directly holds 3,215.248 2024 units, 2,355.945 2025 units, and 14,275.402 shares of common stock.

Insider Trade Summary

Grant/Award: 18.433 shares

Grant/Award 3 txns

Insider Hershberger Pamela S

Role Director

Type	Security	Shares	Price	Value
Grant/Award	RESTRICTED SHARE UNIT (2024)	10.638	$0.00	$0.00
Grant/Award	RESTRICTED SHARE UNIT (2025)	7.795	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: RESTRICTED SHARE UNIT (2024) — 3,215.248 contracts (Direct); RESTRICTED SHARE UNIT (2025) — 2,355.945 contracts (Direct); Common Stock — 14,275.402 shares (Direct)

Footnotes (4)

1. F1. Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock.
2. F2. Restricted share units were granted on May 5, 2023 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant
3. F3. Dividend equivalent received.
4. F4. Restricted share units were granted on May 9, 2024 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.

FAQ

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

What insider transaction did Andersons, Inc. (ANDE) report for Pamela S. Hershberger?

Andersons, Inc. reported that director Pamela S. Hershberger acquired additional restricted share units on January 27, 2026. She received 10.638 units from a 2024 award and 7.795 units from a 2025 award, both at a price of $0 per unit as equity compensation.

How many Andersons, Inc. restricted share units does Pamela S. Hershberger hold after this Form 4?

After the reported transactions, Pamela S. Hershberger holds 3,215.248 RESTRICTED SHARE UNIT (2024) awards and 2,355.945 RESTRICTED SHARE UNIT (2025) awards. Each restricted share unit entitles her to receive one share of Andersons, Inc. common stock upon vesting, subject to plan terms.

How many Andersons, Inc. (ANDE) common shares does Pamela S. Hershberger own directly?

Following the reported activity, Pamela S. Hershberger directly owns 14,275.402 shares of Andersons, Inc. common stock. This figure reflects her beneficial ownership of non-derivative shares as of the January 27, 2026 Form 4 and is listed under direct ownership in the filing.

What are the terms of the Andersons, Inc. restricted share units reported in this filing?

Each restricted share unit represents the right to receive one share of Andersons, Inc. common stock upon vesting. The 2024 units were granted May 5, 2023 and the 2025 units May 9, 2024, both as part of annual equity grants that vest one year from the grant date.

Why did Andersons, Inc. (ANDE) grant restricted share units to Pamela S. Hershberger?

The restricted share units were granted as part of Andersons, Inc.’s annual equity grant program. The Form 4 notes that the 2023 and 2024 awards were issued as annual equity grants to the director, aligning her compensation partly with the company’s common stock over time.

What does the dividend equivalent footnote mean in the Andersons, Inc. Form 4?

The filing notes a “Dividend equivalent received” for the restricted share units. This indicates Hershberger received an adjustment tied to dividends on Andersons, Inc. common stock, credited in the form of additional restricted share units rather than cash, according to the equity award terms.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 01/29/2026 - 03:17 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^*

Hershberger Pamela S

(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)
01/27/2026

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

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								14,275.402	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 (2024)	(1)	01/27/2026		A		10.638		(2)	(2)	Common Stock	10.638(3)	$0(1)	3,215.248	D
RESTRICTED SHARE UNIT (2025)	(1)	01/27/2026		A		7.795		(4)	(4)	Common Stock	7.795(3)	$0(1)	2,355.945	D

Explanation of Responses:

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

2. Restricted share units were granted on May 5, 2023 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant

3. Dividend equivalent received.

4. Restricted share units were granted on May 9, 2024 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.

Remarks:

	Pamela S. Hershberger, by Melissa Trippel, Limited Power of Attorney	01/29/2026
	** 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.