MANIRE ROSS W 4

What Happened

• Ross W. Manire, a director of Andersons, Inc. (ANDE), reported derivative conversions and an award on May 7, 2026. The filing shows an exercise/conversion of 3,376 derivative units that resulted in the acquisition of 3,376 shares (reported at $0.00). The filing also reports a grant/award of 39.089 shares (reported at $0.00) described as shares in lieu of a cash dividend.
• The same 3,376-share derivative amount is also listed as a disposed derivative transaction in the filing (disposition price listed as N/A). The reported acquisitions show $0.00 cost; the disposition shows no cash proceeds in the filing.

Key Details

• Transaction date: 2026-05-07; Form 4 filed 2026-05-08 (appears timely).
• Reported transactions:
  • M (exercise/conversion): +3,376 shares @ $0.00 (acquired)
  • A (grant/award): +39.089 shares @ $0.00 (acquired; footnote F1)
  • M (exercise/conversion): -3,376 shares (disposed; proceeds N/A)
• Footnotes:
  • F1: Shares in lieu of cash dividend.
  • F2: Each restricted share unit (RSU) equals the right to receive one common share on vesting.
  • F3: The RSUs were granted May 8, 2025 as part of the annual equity grant and vest one year from grant.
• Shares owned after the transactions are not specified in the excerpt of the filing provided.

Context

• These entries are not open‑market purchases or sales by the director but company equity events (conversion/settlement of derivative units and an award/dividend-equivalent). For derivative transactions, an equal acquired and disposed amount often reflects net settlement or withholding to satisfy taxes/obligations; the filing shows both the conversion/acquisition and a matching disposal.
• Awards listed as "shares in lieu of cash dividend" are dividend-equivalent shares and do not necessarily indicate an active buy or sell decision by the insider.