Andersons, Inc. — Director's Dealing 2010

Jan 6, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2009-10-22

Reporting Person: REED HAROLD M (President, Grain & Ethanol)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-10-22	COMMON STOCK	J	0.242	$34.96	Acquired	45234.865	Direct
2010-01-04	COMMON STOCK	J	275.47	$16.48	Acquired	45510.335	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
PERFORMANCE SHARE UNIT	$0.00	2010-01-01	COMMON STOCK (0)	1900	Direct
PERFORMANCE SHARE UNIT	$0.00	2011-01-01	COMMON STOCK (0)	4100	Direct
PERFORMANCE SHARE UNIT	$0.00	2012-01-01	COMMON STOCK (0)	6750	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (9000)	9000	Direct
SOSAR	$46.26	2013-04-01	COMMON STOCK (6675)	6675	Direct
SOSAR	$42.08	2012-03-31	COMMON STOCK (10000)	10000	Direct
SOSAR	$39.115	2011-04-01	COMMON STOCK (19000)	19000	Direct

Footnotes

F1: Acquisition pursuant to Rule 16b-3(c)

F2: Acquired through Section 423 Employee Share Purchase Plan

F3: Stock Performance Unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS from 1/1/2007 to 12/31/2009. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.

F4: Stock performance unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS from 1/1/2008 to 12/31/2010. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.

F5: Stock Performance Unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS from 1/1/2009 to 12/31/2011. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.