Sarah Zibbel, EVP and Chief HR Officer of The Andersons, Inc. (NASDAQ:ANDE), filed a Form 4 on September 3, 2026, disclosing three transactions in the company's common stock occurring on September 1 and September 2, 2026.

Key Highlights

  • Shares acquired via dividend: 69.675 shares of common stock were acquired on September 1, 2026, at $0, as shares in lieu of a cash dividend.
  • Shares withheld for taxes: 602 shares were disposed of on September 2, 2026, at $64.87 per share, to cover tax liability.
  • RSU vesting: 1,944 restricted share units vested on September 2, 2026, converting to 1,944 shares of common stock at $0 exercise price.
  • Resulting ownership: Following all reported transactions, Zibbel directly holds 5,470.424 shares of common stock.
  • RSU origin: The restricted share units were granted on September 1, 2023, as part of the issuer's annual equity grant, with a graded vesting schedule over a three-year period from the date of grant.

Zibbel's Transactions: Dividend Shares, Tax Withholding, and RSU Vesting

According to the filing, the first transaction on September 1, 2026, involved the acquisition of 69.675 shares of The Andersons common stock at a price of $0, described as shares received in lieu of a cash dividend. Following this transaction, Zibbel's direct beneficial ownership stood at 4,128.424 shares.

On September 2, 2026, two additional transactions were reported. First, 602 shares were disposed of at $64.87 per share, with the filing noting these shares were withheld to cover tax liability, reducing her holdings to 3,526.424 shares. Second, 1,944 restricted share units (RSUs) were converted to common stock via an "M" code transaction at $0, bringing her total directly held shares to 5,470.424, according to the filing.

The filing states that each restricted share unit represents the right to receive, upon vesting, one share of the issuer's common stock. The RSUs were granted on September 1, 2023, as part of the issuer's annual equity grant, carrying a graded vesting schedule over the three-year period from the date of grant. Following the vesting and conversion, zero restricted share units from this 2026-denominated grant remain outstanding, the filing indicates. The Form 4 was signed on September 3, 2026, by Melissa Trippel under a limited power of attorney on behalf of Sarah J. Zibbel.

What Was Disclosed

The filing disclosed three transactions by Andersons EVP and Chief HR Officer Sarah Zibbel: a dividend-related share acquisition, a tax-related share withholding, and the vesting of restricted share units granted in 2023, resulting in direct ownership of 5,470.424 shares.