Andersons, Inc. — Director's Dealing 2011

Mar 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2011-03-01

Reporting Person: DePompei Arthur D. (VP Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-11	COMMON STOCK	J	5.423	$46.67	Acquired	4093.068	Direct
2011-02-25	COMMON STOCK	J	5.238	$48.32	Acquired	4098.306	Direct
2011-03-01	COMMON STOCK	A	840	$0.00	Acquired	4938.306	Direct
2011-03-02	COMMON STOCK	M	837	$32.75	Acquired	5775.306	Direct
2011-03-02	COMMON STOCK	F	655	$48.04	Disposed	5120.306	Direct
2011-03-01	PERFORMANCE SHARE UNIT (2014)	A	1680	$0.00	Acquired	1680	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-02	SOSAR	$32.75	M	837	Disposed	2015-04-01	COMMON STOCK (837)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PERFORMANCE SHARE UNIT	1760	Direct
PERFORMANCE SHARE UNIT	2500	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$11.02	2014-03-31	COMMON STOCK (2450)	2160	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. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.