Andersons, Inc. — Director's Dealing 2012

Mar 14, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2012-03-01

Reporting Person: REED HAROLD M (Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-01	COMMON STOCK	A	6000	$0.00	Acquired	47081.408	Direct
2012-03-12	COMMON STOCK	J	2781	$43.66	Acquired	49862.408	Direct
2012-03-12	COMMON STOCK	F	876	$43.66	Disposed	48986.408	Direct
2012-03-01	PERFORMANCE SHARE UNIT (2015)	A	9600	$0.00	Acquired	9600	Direct
2012-03-01	PERFORMANCE SHARE UNIT	J	2781	$0.00	Disposed	3969	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	817.36	Indirect
COMMON STOCK	805.1	Indirect
PERFORMANCE SHARE UNIT (2014)	5770	Direct
PERFORMANCE SHARE UNIT	3750	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$32.75	2015-04-01	COMMON STOCK (5325)	5325	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (9000)	9000	Direct
SOSAR	$46.26	2013-04-01	COMMON STOCK (6675)	6675	Direct

Footnotes

F1: Shares received from vesting of PSU (Performance Share Unit). Agreement allows 75 days from performance 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. Number of underlying shares are determined by the three-year cumulative fully diluted EPS for the performance period.

F3: PSU vested. Less than full value received and balance cancelled.