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  4. [Form 4] Andersons, Inc. Insider Trading Activity

Douglas Gary A. at Andersons, Inc. (ANDE) adds shares via dividends

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Andersons, Inc. director Douglas Gary A. reported three acquisitions. On 2026-07-21 he received 31.976 common shares via dividend reinvestment at $77.816 per share, bringing his direct common holdings to 12,473.917 shares. On 2026-07-22 he was credited 8.282 and 6.068 restricted share units as dividend equivalents on 2024 and 2025 awards, increasing his RSU balances to 3,232.025 and 2,368.237, respectively; each RSU represents one share of common stock upon vesting.

Positive

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Negative

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Insider Douglas Gary A.
Role Director
Type Security Shares Price Value
Grant/Award RESTRICTED SHARE UNIT (2024) F2, F3, F4 8.282 -- --
Grant/Award RESTRICTED SHARE UNIT (2025) F2, F5, F4 6.068 -- --
Other Common Stock F1 31.976 $77.816 $2K
Holdings After Transaction: RESTRICTED SHARE UNIT (2024) — 3,232.025 shares (Direct); RESTRICTED SHARE UNIT (2025) — 2,368.237 shares (Direct); Common Stock — 12,473.917 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.
Dividend reinvestment shares acquired 31.976 shares Common Stock acquired on 2026-07-21 via reinvestment of dividend
Dividend reinvestment price $77.816 per share Price for 31.976 Common Stock shares acquired on 2026-07-21
Common shares held after transaction 12,473.917 shares Direct Common Stock holdings following 2026-07-21 acquisition
2024 RSU dividend equivalents 8.282 units Restricted share unit (2024) dividend equivalent credited on 2026-07-22
2024 RSU balance after credit 3,232.025 units Restricted share unit (2024) total following 2026-07-22 transaction
2025 RSU dividend equivalents 6.068 units Restricted share unit (2025) dividend equivalent credited on 2026-07-22
2025 RSU balance after credit 2,368.237 units Restricted share unit (2025) total following 2026-07-22 transaction
Restricted share unit financial
"Each restricted share unit represents the right to receive, upon vesting, one share"
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 ... as part of the Issuer's annual equity grant."

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FAQ

What insider transactions did Douglas Gary A. report for Andersons (ANDE)?
Douglas Gary A. reported three acquisitions: 31.976 Andersons common shares via dividend reinvestment at $77.816 per share, plus RSU dividend equivalents of 8.282 and 6.068 units tied to 2024 and 2025 restricted share unit awards.

How many Andersons (ANDE) common shares does Douglas Gary A. now hold directly?
After these transactions, Douglas Gary A. directly holds 12,473.917 Andersons common shares. This total reflects the addition of 31.976 shares received on July 21, 2026 through a reinvestment of dividend at a price of $77.816 per share.

What RSU balances does Douglas Gary A. report at Andersons (ANDE)?
Following the July 22, 2026 dividend-equivalent credits, Douglas Gary A. holds 3,232.025 2024 restricted share units and 2,368.237 2025 restricted share units. Each restricted share unit represents the right to receive one Andersons common share upon vesting.

What are the terms of Douglas Gary A.’s 2024 and 2025 RSU grants at Andersons (ANDE)?
The 2024 RSUs were granted on May 5, 2023 as part of Andersons’ annual equity grant, and the 2025 RSUs on May 9, 2024. Footnotes state that these restricted share units vest one year from their respective grant dates.

Were Douglas Gary A.’s recent ANDE transactions under a Rule 10b5-1 trading plan?
These transactions were not affirmed as being under a Rule 10b5-1 trading plan. The filing’s Rule 10b5-1 checkbox is marked false, and the footnotes describe dividend reinvestment and dividend-equivalent RSUs rather than any pre-arranged trading arrangement.
SEC Form 4
FORM 4UNITED 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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/21/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock07/21/2026J(1)31.976A$77.81612,473.917D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
RESTRICTED SHARE UNIT (2024)(2)07/22/2026A8.282 (3) (3)Common Stock8.282(4)(2)3,232.025D
RESTRICTED SHARE UNIT (2025)(2)07/22/2026A6.068 (5) (5)Common Stock6.068(4)(2)2,368.237D
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 Attorney07/27/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR