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: Conrad Nicholas C (VP Finance & Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-28	COMMON STOCK	M	300	$42.30	Acquired	6954.904	Direct
2012-02-28	COMMON STOCK	F	288	$45.24	Disposed	6666.904	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-28	SOSAR	$42.30	M	300	Disposed	2012-03-31	COMMON STOCK (300)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PERFORMANCE SHARE UNIT	1530	Direct
PERFORMANCE SHARE UNIT (2014)	1440	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$46.26	2013-04-01	COMMON STOCK (1100)	1100	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (523)	523	Direct
SOSAR	$32.75	2015-04-01	COMMON STOCK (1466)	1466	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.