Andersons, Inc. — Director's Dealing 2018

Jan 8, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Andersons, Inc. (ANDE)
CIK: 0000821026
Period of Report: 2018-01-04

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-01-04	COMMON STOCK	F	324	$31.15	Disposed	11908.7131	Direct
2018-01-04	COMMON STOCK	F	80	$31.15	Disposed	11828.7131	Indirect
2018-01-05	COMMON STOCK	J	31.7	$31.15	Acquired	11797.0131	Direct
2018-01-05	COMMON STOCK	J	8.1	$31.15	Acquired	11805.1131	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
PERFORMANCE SHARE UNIT (2018)	996	Direct
PERFORMANCE SHARE UNIT (2018)	320	Indirect
PERFORMANCE SHARE UNIT (EPS) (2019)	1186	Direct
PERFORMANCE SHARE UNIT (EPS) (2019)	272	Indirect
PERFORMANCE SHARE UNIT (EPS) (2020)	836	Direct
PERFORMANCE SHARE UNIT (EPS) (2020)	190	Indirect
PERFORMANCE SHARE UNIT (TSR) (2019)	1186	Direct
PERFORMANCE SHARE UNIT (TSR) (2019)	272	Indirect
PERFORMANCE SHARE UNIT (TSR) (2020)	836	Direct
PERFORMANCE SHARE UNIT (TSR) (2020)	190	Indirect

Footnotes

F1: Dividend equivalent received.

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: Stock performance unit (TSR) granted pursuant to The Andersons, Inc. Plan. Units vest 100% in 3 years contingent on the Company's annualized total shareholder return. Number of underlying shares are based upon the level of satisfaction of the total shareholder return for the performance period.