Andersons, Inc. — Director's Dealing 2014

Jan 9, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ANDERSONS INC (ANDE)
CIK: 0000821026
Period of Report: 2014-01-08

Reporting Person: SHAH RASESH H (President, Rail Group)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-08	COMMON STOCK	F	550	$89.17	Disposed	27998.96	Direct
2014-01-08	COMMON STOCK	J	582.75	$42.90	Acquired	28581.71	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON STOCK	33099	Indirect
PERFORMANCE SHARE UNIT (2014)	2970	Direct
PERFORMANCE SHARE UNIT (2015)	3275	Direct
PERFORMANCE SHARE UNIT (2016)	1075	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.

F2: Stock performance unit granted pursuant to The Andersons, Inc. plan. Units vest 100% in 27 months contingent on cumulative EPS from 10/01/2013 to 12/31/2015. Number of underlying shares are determined by the twenty-seven months cumulative fully diluted EPS for the performance period.