Hershberger Pamela S 4

What Happened
Pamela S. Hershberger, a director of Andersons, Inc. (ANDE), was reported as receiving two derivative awards (restricted share units) on January 27, 2026: 10.638 RSUs and 7.795 RSUs, each recorded at $0.00. These are not open‑market purchases or sales but awards/credits of RSUs — derivatives that represent the right to receive common shares upon vesting. The filing shows the awards were recorded on the Form 4 and no cash was paid in connection with these entries.

Key Details

• Transaction date reported: 2026-01-27; Form filed: 2026-01-29 (appears timely).
• Awards: 10.638 RSUs and 7.795 RSUs, total = 18.433 RSUs; price recorded = $0.00 (derivative awards).
• Shares owned after the transaction: not specified in this filing.
• Footnotes:
  • F1: Each RSU equals the right to one share of common stock upon vesting.
  • F2/F4: The RSUs relate to annual grants made May 5, 2023 and May 9, 2024; those grants vest one year from their respective grant dates.
  • F3: A dividend equivalent was received (credited as RSUs).
• Transaction type code: A = Award/Grant/Acquisition (derivative). Not a 10b5-1 trade or sale.

Context
RSU awards are common compensation for directors and executives and do not by themselves signal buying or selling sentiment; they simply reflect equity compensation or dividend equivalents being credited. These RSUs will only convert into actual shares if and when they vest (per the grant terms). To estimate the cash value if converted, multiply the total RSUs (18.433) by Andersons’ current share price.