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: Sparks Tamara Sue (VP,Corp.Relations/BusinessAnal)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-01	COMMON STOCK	A	405	$0.00	Acquired	3414.32	Direct
2012-03-12	COMMON STOCK	J	227	$43.66	Acquired	3641.32	Direct
2012-03-12	PERFORMANCE SHARE UNIT	J	227	$0.00	Disposed	323	Direct
2012-03-01	PERFORMANCE SHARE UNIT (2015)	A	647	$0.00	Acquired	647	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PERFORMANCE SHARE UNIT	600	Direct
PERFORMANCE SHARE UNIT (2014)	570	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
SOSAR	$32.75	2015-04-01	COMMON STOCK (850)	850	Direct
SOSAR	$11.02	2014-03-31	COMMON STOCK (720)	720	Direct
SOSAR	$46.26	2013-04-01	COMMON STOCK (550)	550	Direct

Footnotes

F1: Shares received from vesting of PSU (Performance Share Unit). Agreement allows 75 days from performance end date to issue shares.

F2: PSU vested. Less than full value received and balance cancelled.

F3: 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.