Andersons, Inc. — Director's Dealing 2026

Jan 29, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Andersons, Inc. (ANDE)
CIK: 0000821026
Period of Report: 2026-01-27

Reporting Person: Hershberger Pamela S (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-27	RESTRICTED SHARE UNIT (2024)	$	A	10.638	Acquired		Common Stock (10.638)	Direct
2026-01-27	RESTRICTED SHARE UNIT (2025)	$	A	7.795	Acquired		Common Stock (7.795)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	14275.402	Direct

Footnotes

F1: Each restricted share unit represents the right to receive, upon vesting, one share of the Issuer's common stock.

F2: Restricted share units were granted on May 5, 2023 as part of the Issuer's annual equity grant. Restricted share units vest one year from the date of grant

F3: Dividend equivalent received.

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.