Andersons, Inc. — Director's Dealing 2010

Feb 5, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2010-02-04

Reporting Person: Waggoner Thomas Lowell (President, Turf & Specialty)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-02-04	COMMON STOCK	M	527	$25.82	Acquired	6383.45	Direct
2010-02-04	COMMON STOCK	F	202	$25.82	Disposed	6181.45	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-02-04	PERFORMANCE SHARE UNIT	$0.00	M	890	Disposed	2010-01-01	COMMON STOCK (527)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
PERFORMANCE SHARE UNIT	$0.00	2011-01-01	COMMON STOCK (0)	2025	Direct
PERFORMANCE SHARE UNIT	$0.00	2012-01-01	COMMON STOCK (0)	4200	Direct
SOSAR	$39.115	2011-04-01	COMMON STOCK (8400)	8400	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (5400)	5400	Direct
SOSAR	$46.26	2013-04-01	COMMON STOCK (3400)	3400	Direct
SOSAR	$42.08	2012-03-31	COMMON STOCK (4500)	4500	Direct
STOCK OPTION	$15.50	2010-03-31	COMMON STOCK (3200)	3200	Direct

Footnotes

F1: Agreement allows 75 days from performance period end date to issue shares.

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.