Andersons, Inc. — Director's Dealing 2012

Feb 29, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2012-02-28

Reporting Person: ANDERSON DANIEL T (President, Retail)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-28	COMMON STOCK	M	6400	$42.30	Acquired	250169	Direct
2012-02-28	COMMON STOCK	F	6119	$45.24	Disposed	244050	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-28	SOSAR	$42.30	M	6400	Disposed	2012-03-31	COMMON STOCK (6400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	12341.43	Indirect
PERFORMANCE SHARE UNIT	2450	Direct
PERFORMANCE SHARE UNIT	4000	Direct
PERFORMANCE SHARE UNIT (2014)	2100	Direct
COMMON STOCK	13855.41	Indirect
COMMON STOCK	1348.94	Indirect
COMMON STOCK	1348.94	Indirect
COMMON STOCK	1348.94	Indirect
COMMON STOCK	1348.94	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$46.26	2013-04-01	COMMON STOCK (3400)	3400	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (4900)	4900	Direct
SOSAR	$32.75	2015-04-01	COMMON STOCK (4300)	4300	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.