Andersons, Inc. — Director's Dealing 2025

Sep 4, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Andersons, Inc. (ANDE)
CIK: 0000821026
Period of Report: 2025-09-02

Reporting Person: Zibbel Sarah (EVP & Chief HR Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-09-02	Common Stock	M	1945	—	Acquired	3707.59	Direct
2025-09-02	Common Stock	A	72.759	—	Acquired	3780.349	Direct
2025-09-02	Common Stock	F	618	$40.90	Disposed	3162.349	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-09-02	RESTRICTED SHARE UNIT (2026)	$	M	1945	Disposed		Common Stock (1945)	Direct

Footnotes

F1: Shares in lieu of cash dividend.

F2: Shares withheld to cover tax liability.

F3: Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock.

F4: Restricted share units were granted on September 1, 2023, in conjunction with Ms. Zibbel's hiring. Restricted share units have a graded vesting schedule over the three-year period from date of grant.