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: SHAH RASESH H (President, Rail Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-01	PERFORMANCE SHARE UNIT	J	3600	$0.00	Acquired	3600	Direct
2010-03-01	PERFORMANCE SHARE UNIT	J	6150	$0.00	Acquired	6150	Direct
2010-03-01	PERFORMANCE SHARE UNIT	A	3075	$0.00	Acquired	3075	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-01	PERFORMANCE SHARE UNIT	$0.00	J	3600	Disposed	2011-01-01	COMMON STOCK (0)	Direct
2010-03-01	PERFORMANCE SHARE UNIT	$0.00	J	6150	Disposed	2012-01-01	COMMON STOCK (0)	Direct
2010-03-01	SOSAR	$32.75	A	4575	Acquired	2015-04-01	COMMON STOCK (4575)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	53798.25	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$11.02	2014-03-31	COMMON STOCK (7900)	7900	Direct
SOSAR	$46.26	2013-04-01	COMMON STOCK (6000)	6000	Direct
SOSAR	$42.08	2012-03-31	COMMON STOCK (11000)	11000	Direct
SOSAR	$39.115	2011-04-01	COMMON STOCK (24000)	24000	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: Will now be reported on Table I Non-Derivative Security

F4: SOSAR vests 1/3 after 1 year; 2/3 after 2 years; and 100% after 3 years.