Andersons, Inc. — Director's Dealing 2025

May 12, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Andersons, Inc. (ANDE)
CIK: 0000821026
Period of Report: 2025-05-08

Reporting Person: Campbell Steven K. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-09	Common Stock	M	2270	—	Acquired	6856.02	Direct
2025-05-09	Common Stock	A	45.82	—	Acquired	6901.84	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-08	RESTRICTED SHARE UNIT (2026)	$	A	3376	Acquired		Common Stock (3376)	Direct
2025-05-09	RESTRICTED SHARE UNIT (2025)	$	M	2270	Disposed		Common Stock (2270)	Direct

Footnotes

F1: Shares in lieu of cash dividend.

F2: Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock.

F3: Restricted share units were granted on May 8, 2025 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.

F4: Restricted share units were granted on May 9, 2024 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant.