Form 4: Andersons Inc. Director Robert J. King Jr. Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Robert J. King Jr. reports acquisition and disposal of Andersons Inc. common stock and restricted share units.
Summary
- On May 9, 2024, Robert J. King Jr., a director of Andersons, Inc., reported changes in beneficial ownership of the company's securities.
- The transactions included the acquisition of 3,074 shares of common stock and the disposal of the same amount.
- King also acquired 2,270 restricted share units (RSUs) that vest one year from the grant date of May 9, 2024.
- These RSUs represent the right to receive one share of Andersons' common stock upon vesting.
- Additionally, 3,074 restricted share units granted on May 5, 2023, vested.
- Following these transactions, King directly owns 6,193.81 shares of common stock and indirectly owns 43,091.902 shares through the Robert J. King Jr. Trust u/a dated Dec. 20, 2013.
- He also directly owns 2,270 restricted share units (2025).
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing and has a neutral sentiment.
Positives
- The acquisition of restricted share units aligns the director's interests with those of the shareholders.
Future Outlook
The director will continue to report changes in beneficial ownership as required by SEC regulations.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Director stock ownership is common across publicly traded companies.
- The amount of stock owned by the director is not particularly high or low compared to other directors at similar companies.
- The vesting schedule of the restricted share units is typical of equity compensation plans.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the director's stake in the company.
- The equity grants align the director's interests with those of the shareholders.
Next Steps
- The director will continue to file Form 4s for any future transactions in Andersons Inc. securities.
Key Dates
| Date | Description |
|---|---|
| December 20, 2013 | Date of Robert J. King Jr. Trust agreement. |
| August 16, 2023 | Date of Limited Power of Attorney execution. |
| May 5, 2023 | Date of grant for restricted share units that vested on May 9, 2024. |
| May 9, 2024 | Date of transactions and grant of new restricted share units. |
| May 13, 2024 | Date of signature for the Form 4 filing. |
| September 7, 2026 | Expiration date of Notary Public Shawna Hart's commission. |
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