Andersons (ANDE) Form 4: New Director Awarded 2,626 Restricted Share Units

Rhea-AI Filing Summary

Steven Oakland was appointed to the Board of Directors of Andersons, Inc. and received a grant of 2,626 restricted share units (RSUs) on 08/22/2025. Each RSU represents the right to one share of common stock upon vesting. The RSUs vest on 05/07/2026, the issuer's director equity grant vesting date, and reflect 2,626 underlying shares to be delivered on vesting.

Insights

Corporate Governance Expert

TL;DR: Director appointment with routine equity grant; typical alignment of new director incentives with shareholder interests.

The filing discloses a board appointment and a standard director equity award: 2,626 RSUs granted on 08/22/2025 that convert 1-for-1 into common shares and vest on 05/07/2026. This is a customary practice to align new directors with long-term shareholder value. The size of the grant is specific but the filing provides no valuation, percent ownership impact, or additional compensation details, limiting assessment of dilution or cost.

Securities Analyst

TL;DR: Transaction is non-derivative equity compensation for a director; no immediate disposition or sale reported.

The Form 4 reports an acquisition of RSUs (2,626 units) rather than immediate share purchases or dispositions. There is no cash price reported and no other transactions disclosed. The SEC Form 4 shows beneficial ownership following the grant at 2,626 shares (direct). Without share count or market value in the filing, the market impact and dilution cannot be quantified from this document alone.

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

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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^*

OAKLAND STEVEN

(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)
08/22/2025

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								0	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 (2026)	(1)	08/22/2025		A		2,626		(2)	(2)	Common Stock	2,626	(1)	2,626	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 August 22, 2025, upon his appointment to the Board of Directors. Restricted share units vest on May 7, 2026, the vesting date for the Issuer's 2025 equity grant to directors.

Remarks:

	Steven Oakland, by Melissa Trippel, Limited Power of Attorney	08/26/2025
	** 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.

FAQ

What did Steven Oakland receive according to the ANDE Form 4?

He was granted 2,626 restricted share units (RSUs) on 08/22/2025, each representing one share of common stock upon vesting.

When do the restricted share units granted to Steven Oakland vest?

The RSUs vest on 05/07/2026, the issuer's 2025 director equity grant vesting date.

Does the Form 4 show any sale or disposition by Steven Oakland?

No. The Form 4 reports an acquisition (grant) of RSUs and shows 2,626 shares beneficially owned following the transaction.

Do the RSUs convert to common stock on a one-for-one basis?

Yes. The filing states each restricted share unit represents the right to receive one share of the issuer's common stock upon vesting.

Was the RSU grant linked to a board appointment?

Yes. The explanation states the RSUs were granted on 08/22/2025 upon his appointment to the Board of Directors.