Andersons, Inc. — Director's Dealing 2012

Apr 27, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2012-04-27

Reporting Person: ANDERSON MICHAEL J (Director, Chairman, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-27	COMMON STOCK	M	10000	$46.26	Acquired	255073.964	Direct
2012-04-27	COMMON STOCK	F	9418	$50.56	Disposed	245655.964	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-04-27	SOSAR	$46.26	M	10000	Disposed	2013-04-01	COMMON STOCK (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	100092	Indirect
PERFORMANCE SHARE UNIT (2014)	15740	Direct
PERFORMANCE SHARE UNIT (2015)	17000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$32.75	2015-04-01	COMMON STOCK (18100)	18100	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (23600)	23600	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.