Andersons, Inc. — Director's Dealing 2010

Mar 3, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2010-03-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-01	PERFORMANCE SHARE UNIT	J	12000	$0.00	Acquired	12000	Direct
2010-03-01	PERFORMANCE SHARE UNIT	J	17700	$0.00	Acquired	17700	Direct
2010-03-01	PERFORMANCE SHARE UNIT	A	12600	$0.00	Acquired	12600	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-03-01	SOSAR	$32.75	A	18100	Acquired	2015-04-01	COMMON STOCK (18100)	Direct
2010-03-01	PERFORMANCE SHARE UNIT	$0.00	J	12000	Disposed	2011-01-01	COMMON STOCK (0)	Direct
2010-03-01	PERFORMANCE SHARE UNIT	$0.00	J	17700	Disposed	2012-01-01	COMMON STOCK (0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	220369.063	Direct
COMMON STOCK	100092	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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: Previously reported as derivative holding.

F2: Stock performance unit granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on cumulative EPS. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.

F3: SOSAR vests 1/3 after 1 year; 2/3 after 2 years; and 100% after 3 years.

F4: Will now be reported on Table I Non-Derivative Security