Andersons director reports RSU grants, dividend reinvestment

Douglas Gary A. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Douglas Gary A. reported acquisition or exercise transactions in this Form 4 filing.

Andersons, Inc. director Douglas Gary A. reported routine equity-related changes. On April 22, he received 6.224 restricted share units tied to a 2025 dividend equivalent and 8.495 restricted share units tied to a 2024 dividend equivalent, each representing the right to receive one share of common stock upon vesting.

These RSUs relate to annual equity grants made on May 5, 2023 and May 9, 2024 that vest one year from their grant dates. On April 21, a cash dividend was reinvested into 24.24 shares of common stock at $74.273 per share, bringing his direct common stock holdings to 9,026.852 shares.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Douglas Gary A.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	RESTRICTED SHARE UNIT (2024)	8.495	$0.00	$0.00
Grant/Award	RESTRICTED SHARE UNIT (2025)	6.224	$0.00	$0.00
Other	Common Stock	24.24	$74.273	$2K

Holdings After Transaction: RESTRICTED SHARE UNIT (2024) — 3,223.743 contracts (Direct); RESTRICTED SHARE UNIT (2025) — 2,362.169 contracts (Direct); Common Stock — 9,026.852 shares (Direct)

Footnotes (5)

1. F1. Reinvestment of 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 5, 2023 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.
4. F4. Dividend equivalent received.
5. F5. 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.

Key Figures

RSUs from 2023 grant dividend equivalent: 6.224 units RSUs from 2024 grant dividend equivalent: 8.495 units Dividend reinvestment shares: 24.24 shares +2 more

5 metrics

RSUs from 2023 grant dividend equivalent 6.224 units Restricted share units linked to May 5, 2023 annual equity grant

RSUs from 2024 grant dividend equivalent 8.495 units Restricted share units linked to May 9, 2024 annual equity grant

Dividend reinvestment shares 24.24 shares Common stock acquired via reinvestment of dividend at $74.273 per share

Dividend reinvestment price $74.273 per share Price for 24.24 common shares from dividend reinvestment

Common stock holdings after transactions 9,026.852 shares Directly held Andersons common stock following April 21 dividend reinvestment

Key Terms

Restricted share unit, Dividend equivalent, Reinvestment of dividend, Annual equity grant

4 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.

Dividend equivalent financial

"Dividend equivalent received."

A dividend equivalent is a payment someone receives that matches the cash dividends paid on a stock, even though they don’t actually hold the shares. It often shows up in stock-based pay or certain derivatives, and matters to investors because it preserves the income value and alters the after-tax return and timing of payouts — think of it like getting a paycheck for the dividends you would have earned if you owned the stock directly.

Reinvestment of dividend financial

"Reinvestment of dividend."

Annual equity grant financial

"Restricted share units were granted on May 5, 2023 as part of the Issuer's annual equity grant."

FAQ

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

What insider transactions did Douglas Gary A. report at Andersons, Inc. (ANDE)?

Douglas Gary A. reported routine equity-related transactions. He received small restricted share unit dividend equivalents and had a cash dividend reinvested into additional common shares, modestly increasing both his RSU balances and his directly held common stock position.

How many new restricted share units did the Andersons (ANDE) director receive?

He received 6.224 restricted share units linked to a 2023 grant and 8.495 restricted share units linked to a 2024 grant. Each unit represents the right to receive one share of Andersons’ common stock when the units vest under their original grant terms.

What is a restricted share unit in the Andersons, Inc. (ANDE) Form 4 filing?

A restricted share unit in this filing represents the right to receive one share of Andersons’ common stock upon vesting. The units stem from annual equity grants, with additional units credited as dividend equivalents while the original awards remain outstanding and unvested.

How did dividend reinvestment affect the Andersons (ANDE) director’s common stock holdings?

A cash dividend was reinvested into 24.24 shares of Andersons common stock at $74.273 per share. After this reinvestment transaction, the director’s directly held common stock position increased to a total of 9,026.852 shares reported as owned directly.

Were the Andersons, Inc. (ANDE) insider transactions open-market buys or sales?

No open-market buys or sales were reported. The Form 4 shows grant or award acquisitions of restricted share units as dividend equivalents and a reinvestment of a cash dividend into additional common shares, all of which are routine compensation and dividend-related events.

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

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Accepted by SEC EDGAR 04/27/2026 - 12:29 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^*

Douglas Gary A.

(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)
04/21/2026

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	04/21/2026		J(1)		24.24	A	$74.273	9,026.852	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)	(2)	04/22/2026		A		8.495		(3)	(3)	Common Stock	8.495(4)	(2)	3,223.743	D
RESTRICTED SHARE UNIT (2025)	(2)	04/22/2026		A		6.224		(5)	(5)	Common Stock	6.224(4)	(2)	2,362.169	D

Explanation of Responses:

1. Reinvestment of 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 5, 2023 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.

4. Dividend equivalent received.

5. 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:

	Gary A. Douglas, by Melissa Trippel, Limited Power of Attorney	04/27/2026
	** 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)