Susan Decker reports 250,000 Andersen Group (ANDG) units exchangeable into Class A shares

Rhea-AI Filing Summary

Andersen Group Inc. director Susan L. Decker filed an initial ownership report showing interests in Class X Aggregator Units that are exchangeable into Class A common stock. She indirectly holds 200,000 Class X Aggregator Units through a trust she controls and directly holds 50,000 additional Class X Aggregator Units.

Under the Andersen Aggregator LLC agreement, each Class X Aggregator Unit is ultimately exchangeable on a one-for-one basis for either cash or, at the company’s election, a share of Class A common stock, subject to customary adjustments and restrictions. The reported units are fully vested, and Decker disclaims beneficial ownership of the trust-held securities except to the extent of her pecuniary interest.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider DECKER SUSAN L

Role null

Type	Security	Shares	Price	Value
holding	Class X Aggregator Units	--	--	--
holding	Class X Aggregator Units	--	--	--

Holdings After Transaction: Class X Aggregator Units — 50,000 shares (Direct, null); Class X Aggregator Units — 200,000 shares (Indirect, See footnote)

Footnotes (1)

1. Pursuant to the terms of the Amended and Restated Limited Liability Company Agreement of Andersen Aggregator LLC ("Aggregator") dated as of December 16, 2025 (the "Aggregator LLCA"), as disclosed in the prospectus of Andersen Group Inc. (the "Issuer"), the Class X Aggregator Units held by the Reporting Person are ultimately exchangeable for cash or, at the Issuer's election, shares of Class A common stock on a one-for-one basis, subject to customary conversion rate adjustments and compliance with lock-up, vesting and transfer restrictions and the terms of the Aggregator LLCA. Upon an exchange of the Class X Aggregator Units, an equal number of shares of Class B common stock of the Issuer accompanying the Class X Aggregator Units and held by Andersen Aggregator LLC or its permitted transferee will be automatically cancelled for no additional consideration. Shares of Class B Common Stock do not represent economic interests in the Issuer. The reported units are fully vested. Consists of 200,000 Class X Aggregator Units held by a trust controlled by the Reporting Person which are indirectly exchangeable for 200,000 shares of Class A common stock. The Reporting Person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

DECKER SUSAN L

(Last) (First) (Middle)

C/O ANDERSEN GROUP INC.

333 BUSH STREET, SUITE 1700

(Street)

SAN FRANCISCO CALIFORNIA 94104

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/27/2026

3. Issuer Name and Ticker or Trading Symbol
Andersen Group Inc. [ ANDG ]

3a. Foreign Trading Symbol

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

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class X Aggregator Units(1)	(2)	(2)	Class A Common Stock	50,000	(1)	D
Class X Aggregator Units(1)	(2)	(2)	Class A Common Stock	200,000	(1)	I	See footnote(3)

Explanation of Responses:

1. Pursuant to the terms of the Amended and Restated Limited Liability Company Agreement of Andersen Aggregator LLC ("Aggregator") dated as of December 16, 2025 (the "Aggregator LLCA"), as disclosed in the prospectus of Andersen Group Inc. (the "Issuer"), the Class X Aggregator Units held by the Reporting Person are ultimately exchangeable for cash or, at the Issuer's election, shares of Class A common stock on a one-for-one basis, subject to customary conversion rate adjustments and compliance with lock-up, vesting and transfer restrictions and the terms of the Aggregator LLCA. Upon an exchange of the Class X Aggregator Units, an equal number of shares of Class B common stock of the Issuer accompanying the Class X Aggregator Units and held by Andersen Aggregator LLC or its permitted transferee will be automatically cancelled for no additional consideration. Shares of Class B Common Stock do not represent economic interests in the Issuer.

2. The reported units are fully vested.

3. Consists of 200,000 Class X Aggregator Units held by a trust controlled by the Reporting Person which are indirectly exchangeable for 200,000 shares of Class A common stock. The Reporting Person disclaims beneficial ownership of these securities except to the extent of her pecuniary interest therein.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ William Deckelman as attorney-in-fact	04/28/2026
	** 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 5 (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 3: SEC 1473 (03-26)