Andersons, Inc. — Director's Dealing 2010

Mar 24, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2010-03-23

Reporting Person: SHAH RASESH H (President, Rail Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-23	COMMON STOCK	M	10000	$15.50	Acquired	63798.25	Direct
2010-03-23	COMMON STOCK	F	6246	$34.27	Disposed	57552.25	Direct
2010-03-23	COMMON STOCK	M	10000	$15.50	Acquired	67552.25	Direct
2010-03-23	COMMON STOCK	F	6165	$35.19	Disposed	61387.25	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-23	STOCK OPTION	$15.50	M	10000	Disposed	2010-03-31	COMMON STOCK (10000)	Direct
2010-03-23	STOCK OPTION	$15.50	M	10000	Disposed	2010-03-31	COMMON STOCK (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PERFORMANCE SHARE UNIT	3600	Direct
PERFORMANCE SHARE UNIT	6150	Direct
PERFORMANCE SHARE UNIT	3075	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$32.75	2015-04-01	COMMON STOCK (4575)	4575	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (7900)	7900	Direct
SOSAR	$42.08	2012-03-31	COMMON STOCK (11000)	11000	Direct
SOSAR	$39.115	2011-04-01	COMMON STOCK (24000)	24000	Direct
SOSAR	$46.26	2013-04-01	COMMON STOCK (6000)	6000	Direct

Footnotes

F1: 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.