Andersons, Inc. — Director's Dealing 2012

Mar 15, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2012-03-14

Reporting Person: McKinstray Neill C (President, Ethanol Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-14	COMMON STOCK	M	1750	$42.30	Acquired	30839.327	Direct
2012-03-14	COMMON STOCK	F	1679	$45.01	Disposed	29160.327	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-14	SOSAR	$42.30	M	1750	Disposed	2012-03-31	COMMON STOCK (1750)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	1557.41	Indirect
PERFORMANCE SHARE UNIT (2014)	1416	Direct
PERFORMANCE SHARE UNIT (2015)	2470	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$46.26	2013-04-01	COMMON STOCK (2750)	2750	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (3200)	3200	Direct
SOSAR	$32.75	2015-04-01	COMMON STOCK (2225)	2225	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.