Andersons, Inc. — Director's Dealing 2010

Feb 9, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2010-01-25

Reporting Person: ANDERSON MICHAEL J (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-01-25	COMMON STOCK	J	78.021	$27.17	Acquired	218445.063	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	100092	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
PERFORMANCE SHARE UNIT	$0.00	2011-01-01	COMMON STOCK (0)	12000	Direct
PERFORMANCE SHARE UNIT	$0.00	2012-01-01	COMMON STOCK (0)	17700	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (23600)	23600	Direct
SOSAR	$46.26	2013-04-01	COMMON STOCK (20000)	20000	Direct
SOSAR	$42.08	2012-03-31	COMMON STOCK (25700)	25700	Direct
SOSAR	$39.115	2011-04-01	COMMON STOCK (44000)	44000	Direct
STOCK OPTION	$5.00	2012-01-01	COMMON STOCK (20000)	20000	Direct
STOCK OPTION	$15.50	2010-03-31	COMMON STOCK (20000)	20000	Direct

Footnotes

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

F2: 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.

F3: 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.