Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-10-13

Andersons (ANDE)

CEO William Krueger was paid $5,472,539 in fiscal year 2025, ↑ up 13.2% from fiscal year 2024, the 38th percentile of its disclosed peer group (SEC filing 0001104659-26-026341 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$5,472,539 ↑
William Krueger total, FY2025
38th
CEO pay percentile vs peers
—
CEO-to-median pay ratio
98.89%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- William Krueger (President and Chief Executive Officer), FY2025 total compensation $5,472,539 (base salary $1,000,000) [exec_comp, SEC accession 0001104659-26-026341, filed 2026-03-11]

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ANDE's next annual pay disclosure, estimated March 11, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
William Krueger$1,000,000$0$3,063,337$0$1,183,800$0$225,402$5,472,539
President and Chief Executive Officer
Brian Valentine597,1160735,2650603,7380153,6132,089,732
Executive Vice President, Chief Financial Officer
Christine Castellano163,3680459,545094,5740914,9361,632,423
Former Executive Vice President, General Counsel & Corporate Secretary
Patrick Bowe388,471000442,7090341,9261,173,106
Former Executive Chair
Mark Simmons395,9620306,3640390,654060,4201,153,400
Executive Vice President, Renewables
Weston Heide397,3080306,3640337,383068,0621,109,117
Executive Vice President, Agribusiness
Sarah Zibbel400,0000245,1160261,383045,282951,781
Executive Vice President & Chief Human Resources Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
William Krueger$5,472,539$4,835,199$5,346,588↑ +637,340
Brian Valentine2,089,7322,169,0562,552,543↓ −79,324
Christine Castellano1,632,4231,513,7221,615,634↑ +118,701
Patrick Bowe1,173,1065,505,0666,826,492↓ −4,331,960
Mark Simmons1,153,400———
Weston Heide1,109,117———
Sarah Zibbel951,781953,510—↓ −1,729

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against ANDE
8 companies name ANDE as a compensation peer

Each company listed discloses ANDE in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named ANDE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Patrick BoweExecutive Chair$1,173,106
Christine CastellanoGeneral Counsel$1,632,423
Brian ValentineCFO$2,089,732
Mark SimmonsEVP$1,153,400
Sarah ZibbelExecutive$951,781
Weston HeideEVP$1,109,117
William KruegerCEO$5,472,539
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Catherine M. KilbaneIndependent Director$227,612
Gary A. DouglasIndependent Director$233,668
Gerard M. AndersonLead Independent Director$227,612
John T. Stout JrIndependent Director$207,612
Pamela S. HershbergerIndependent Director$236,168
Robert J. King JrIndependent Director$225,112
Ross W. ManireIndependent Director$215,112
Steven K. CampbellIndependent Director$210,112
Steven OaklandIndependent Director$153,368
02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Christine CastellanoPSU2025-03-031,2786,388—12,776$282,541
Christine CastellanoRSU2025-03-03——4,259—177,004
Christine CastellanoRSU2025-02-12——346—14,108
Christine CastellanoRSU2025-03-03——143—6,118
Mark SimmonsPSU2025-03-038524,259—8,518188,376
Mark SimmonsRSU2025-03-03——2,839—117,989
Sarah ZibbelPSU2025-03-036813,407—6,814150,692
Weston HeideRSU2025-03-03——2,839—117,989
Weston HeidePSU2025-03-038524,259—8,518188,376
Weston HeideRSU2025-03-03——40—1,715
William KruegerRSU2025-03-03——28,389—1,179,847
William KruegerRSU2025-02-12——577—23,516
Brian ValentineRSU2025-03-03——287—12,275
Brian ValentineRSU2025-02-12——720—29,350
Patrick BoweRSU2025-02-12——3,324—135,437
Patrick BoweRSU2025-03-03——907—38,807
Christine CastellanoRSU2025-05-02——140—5,327
Mark SimmonsRSU2025-02-12——34—1,383
Sarah ZibbelRSU2025-03-03——2,272—94,424
Sarah ZibbelRSU2025-09-04——73—2,976
Brian ValentinePSU2025-03-032,04410,221—20,442452,075
Weston HeideRSU2025-02-12——76—3,078
William KruegerPSU2025-03-038,51742,584—85,1681,883,490
William KruegerRSU2025-03-03——427—18,257
Brian ValentineRSU2025-03-03——6,814—283,190
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Christine Castellano$202,557$282,541$058.2%
Mark Simmons119,372188,376061.2%
Sarah Zibbel97,400150,692060.7%
Weston Heide122,782188,376060.5%
William Krueger1,221,6201,883,490060.7%
Brian Valentine324,815452,075058.2%
Patrick Bowe174,244000.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Mark SimmonsPSU8,518—$452,902
William KruegerPSU85,168—4,528,383
Patrick BowePSU78,720—4,185,542
Patrick BowePSU60,984—3,242,519
William KruegerPSU55,396—2,945,405
William KruegerPSU42,914—2,281,737
William KruegerRSU28,389—1,509,443
Brian ValentinePSU20,442—1,086,901
Weston HeidePSU8,518—452,902
Brian ValentinePSU17,056—906,868
Brian ValentinePSU15,856—843,064
Patrick BoweRSU13,551—720,507
William KruegerRSU9,536—507,029
Patrick BoweRSU8,746—465,025
Brian ValentineRSU6,814—362,300
Sarah ZibbelPSU6,814—362,300
William KruegerRSU6,154—327,208
Sarah ZibbelPSU5,422—288,288
Brian ValentineRSU3,523—187,318
Weston HeidePSU2,916—155,044
Brian ValentineRSU2,842—151,109
Weston HeideRSU2,839—150,950
Mark SimmonsRSU2,839—150,950
Sarah ZibbelRSU2,272—120,802
Weston HeidePSU2,260—120,164
Sarah ZibbelRSU1,944—103,362
Mark SimmonsPSU1,884—100,172
Mark SimmonsPSU1,460—77,628
Sarah ZibbelRSU1,204—64,017
Weston HeideRSU753—40,037
Mark SimmonsRSU627—33,338
Weston HeideRSU485—25,787
Mark SimmonsRSU242—12,867
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to strongly link pay with performance, aligning executive pay with strategic priorities and shareholder interests. It emphasizes a mix of annual and long-term priorities, with long-term equity awards reflecting the largest component of target compensation to ensure sustained alignment with shareholder value.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantMeridian Compensation Partners
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-0727,944,129313,56021,08098.89%Passed
20252025-05-0825,950,9601,854,20782,70293.33%Passed
20242024-05-0928,253,215522,508186,09398.18%Passed
20232023-05-0527,098,196489,313142,06598.23%Passed
20222022-05-0625,609,576851,78851,61796.78%Passed
20212021-05-0724,726,7071,106,01868,92795.46%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-0798.89%a
20252025-05-0893.33%b
20242024-05-0998.18%c

a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not count as votes cast on these proposals and will not have an effect on the outcomes.”.

b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not count as votes cast on these proposals and will not have an effect on the outcomes.”.

c. Approved under the standard stated in the filing — “Abstentions and broker non-votes will not count as votes cast on these proposals and will not have an effect on the outcomes.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Pamela S. HershbergerIndependent · AUDIT (Chair) · GOVERNANCE/ NOMINATING$120,000$116,168———$236,168
Gary A. DouglasIndependent · AUDIT · COMPENSATION (Chair)117,500116,168———233,668
Gerard M. AndersonIndependent · Lead Independent Director · GOVERNANCE/ NOMINATING · FINANCE110,000117,612———227,612
Catherine M. KilbaneIndependent · AUDIT · GOVERNANCE/ NOMINATING (Chair)110,000117,612———227,612
Robert J. King JrIndependent · Compensation · Finance107,500117,612———225,112
Ross W. ManireIndependent · Audit · Compensation97,500117,612———215,112
Steven K. CampbellIndependent · COMPENSATION · FINANCE92,500117,612———210,112
John T. Stout JrIndependent · Finance90,000117,612———207,612
Steven OaklandIndependent · AUDIT · COMPENSATION45,833107,535———153,368
Patrick E. BoweIndependent · Board Chair93,3330———93,333
William E. KruegerEmployee director—————0
09

Board fee structure and ownership guideline

Annual cash retainer$80,000
Annual equity retainer$130,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)25,000 / 20,000 / 15,000
Stock ownership guidelineMaintain a strong stock ownership policy to reinforce alignment between executive officers and shareholders (this includes a 6x base salary ownership for our CEO)
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$984,166
Equity awards (grant-date value)$1,045,543
All other compensation$0
Total cost of the board$2,029,709

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Andersons names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Andersons.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Archer-Daniels-Midland Company2025Juan Luciano$1,492,500$17,700,055$0$2,826,795$23,886,978
2The Chefs’ Warehouse, Inc.2025Christopher Pappas1,200,30217,084,93303,536,14321,961,898
3Bunge Global SA2025Gregory Heckman1,400,00012,767,72204,112,64018,945,479
4The Mosaic Company2025Bruce Bodine1,245,0007,999,9900902,10010,410,935
5United Natural Foods2025Sandy Douglas1,050,0006,668,31101,908,6489,655,175
6Darling Ingredients Inc.2025Randall Stuewe1,284,2316,681,03001,328,1129,402,554
7CVR Partners, LP2025David Lamp1,200,0001,678,68302,034,0008,602,449
8Applied Industrial Technologies2026Neil Schrimsher1,025,0003,718,0601,387,9721,334,3457,699,136
9SiteOne Landscape Supply2025Doug Black970,6734,199,8640984,9306,177,856
10MRC Global Inc.2024Robert Saltiel860,0004,446,3830658,6575,992,594
11The Marzetti Company2026David Ciesinski1,000,0003,500,07401,146,7505,743,331
12Andersons2025William Krueger1,000,0003,063,33701,183,8005,472,539
13John B. Sanfilippo & Son, Inc.2026Jeffrey Sanfilippo985,4701,687,43101,841,8635,326,942
14Rex American Resources Corporation2025Zafar Rizvi275,0001,250,00003,750,0005,275,200
15B&G Foods2025Kenneth Keller1,224,2582,625,8640710,4374,589,619
16Global Industrial Company2025Anesa Chaibi826,9231,500,023254,3111,255,0004,413,641
17Green Plains, Inc.2025Chris Osowski476,8082,234,9980686,0003,497,755
18Cal-Maine Foods, Inc.2026Sherman Miller627,538502,523002,109,221
19Alto Ingredients, Inc.2025Bryon McGregor553,980354,5400545,8001,477,220
—SpartanNash Company——————not in coverage universe
—Fresh Del Monte Produce, Inc.——————not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Andersonsnot disclosedPSU 60 · RSU 40not disclosedMeridian Compensation Partners
Alto Ingredients, Inc.not disclosednot disclosedNoPay Governance
Applied Industrial Technologiesnot disclosedPSU 50 · Options 25 · RSU 25NoPay Governance
Archer-Daniels-Midland Company94.7%PSU 60 · RSU 40NoMeridian Compensation Partners, LLC
B&G Foodsnot disclosednot disclosednot disclosedMeridian Compensation Partners
Bunge Global SAnot disclosedPBRSU 60 · TBRSU 40Yes — 3-Year RTSRSemler Brossy
Cal-Maine Foods, Inc.not disclosednot disclosednot disclosedMercer
CVR Partners, LP113%RSU 100not disclosedNone (not engaged in 2025)
Darling Ingredients Inc.70%PSU 60 · RSU 40Yes — Total Shareholder Return (TSR)Meridian Compensation Partners, LLC
Fresh Del Monte Produce, Inc.not disclosedRSU 50 · PSU 50not disclosedWillis Towers Watson (WTW)
Global Industrial Companynot disclosednot disclosednot disclosednot disclosed
Green Plains, Inc.98%PSU 50 · RSA 50NoPay Governance
John B. Sanfilippo & Son, Inc.158.1%RSU 80 · PSU 20NoPearl Meyer & Partners, LLC
MRC Global Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners
Rex American Resources Corporationnot disclosedRSU 100not disclosedIndependent compensation consultant (unnamed in provided proxy sections; referenced in 2026 Plan section as 'its independent compensation consultant')
SiteOne Landscape Supplynot disclosedRSU 50 · PSU 50not disclosedFW Cook
SpartanNash Companynot disclosednot disclosednot disclosednot disclosed
The Chefs’ Warehouse, Inc.not disclosednot disclosednot disclosedFrederic W. Cook & Co.
The Marzetti Company91.7%PSU 55 · RSU 45Yes — Relative total shareholder return (“rTSR”) versus the S&P 1500 Packaged Foods & Meats IndexPay Governance LLC
The Mosaic Company50.0%PSU 60 · RSU 40Yes — Total Shareholder Return (TSR)Pay Governance LLC
United Natural Foods121.2%PSU 60 · RSU 40Yes — Relative TSR Modifier (S&P 400 Mid Cap)FW Cook

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Andersons in fiscal 2025?
As disclosed, William Krueger (President and Chief Executive Officer) was the highest-paid executive at Andersons in fiscal 2025, with total compensation of $5,472,539.
How does Andersons's chief executive pay compare to its disclosed peer group?
As disclosed, William Krueger's total compensation ranked at the 38th percentile of Andersons's disclosed peer group.
How did shareholders vote on Andersons's executive compensation?
As disclosed, 98.89% of shareholders supported Andersons's executive compensation in the latest say-on-pay vote.
How much does Andersons spend in total on board compensation for fiscal 2025?
As disclosed, Andersons reported total board compensation of $2,029,709 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, William KruegerDEF 14A2026-03-110001104659-26-026341Section “Summary Compensation Table” · page 34. As printed: 5,472,539. View filing ↗
2Section 01, Brian ValentineDEF 14A2026-03-110001104659-26-026341Section “Summary Compensation Table” · page 34. As printed: 2,089,732. View filing ↗
3Section 01, Christine CastellanoDEF 14A2026-03-110001104659-26-026341Section “Summary Compensation Table” · page 34. As printed: 1,632,423. View filing ↗
4Section 01, Patrick BoweDEF 14A2026-03-110001104659-26-026341Section “Summary Compensation Table” · page 34. As printed: 1,173,106. View filing ↗
5Section 01, Mark SimmonsDEF 14A2026-03-110001104659-26-026341Section “Summary Compensation Table” · page 34. As printed: 1,153,400. View filing ↗
6Section 01, Weston HeideDEF 14A2026-03-110001104659-26-026341Section “Summary Compensation Table” · page 34. As printed: 1,109,117. View filing ↗
7Section 01, Sarah ZibbelDEF 14A2026-03-110001104659-26-026341Section “Summary Compensation Table” · page 34. As printed: 951,781. View filing ↗
8Section 03, Christine Castellano PSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
9Section 03, Christine Castellano RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
10Section 03, Christine Castellano RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
11Section 03, Christine Castellano RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
12Section 03, Mark Simmons PSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
13Section 03, Mark Simmons RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
14Section 03, Sarah Zibbel PSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
15Section 03, Weston Heide RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
16Section 03, Weston Heide PSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
17Section 03, Weston Heide RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
18Section 03, William Krueger RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
19Section 03, William Krueger RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
20Section 03, Brian Valentine RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
21Section 03, Brian Valentine RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
22Section 03, Patrick Bowe RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
23Section 03, Patrick Bowe RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
24Section 03, Christine Castellano RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
25Section 03, Mark Simmons RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
26Section 03, Sarah Zibbel RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
27Section 03, Sarah Zibbel RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
28Section 03, Brian Valentine PSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
29Section 03, Weston Heide RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
30Section 03, William Krueger PSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
31Section 03, William Krueger RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
32Section 03, Brian Valentine RSUDEF 14A2026-03-110001104659-26-026341Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
33Section 08, Pamela S. HershbergerDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 236,168. View filing ↗
34Section 08, Gary A. DouglasDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 233,668. View filing ↗
35Section 08, Gerard M. AndersonDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 227,612. View filing ↗
36Section 08, Catherine M. KilbaneDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 227,612. View filing ↗
37Section 08, Robert J. King JrDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 225,112. View filing ↗
38Section 08, Ross W. ManireDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 215,112. View filing ↗
39Section 08, Steven K. CampbellDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 210,112. View filing ↗
40Section 08, John T. Stout JrDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 207,612. View filing ↗
41Section 08, Steven OaklandDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 153,368. View filing ↗
42Section 08, Patrick E. BoweDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 93,333. View filing ↗
43Section 08, William E. KruegerDEF 14A2026-03-110001104659-26-026341Section “Director Compensation”. As printed: 0. View filing ↗
44Section 06, 2026 voteForm 8-K2026-05-070000821026-26-000076Item 5.07 · say-on-pay result. As reported: 98.89% (votes for as printed: 27,944,129). View filing ↗
45Section 06, 2025 voteForm 8-K2025-05-090000821026-25-000114Item 5.07 · say-on-pay result. As reported: 93.33% (votes for as printed: 25,950,960). View filing ↗
46Section 06, 2024 voteForm 8-K2024-05-130000821026-24-000145Item 5.07 · say-on-pay result. As reported: 98.18% (votes for as printed: 28,253,215). View filing ↗
47Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.
48Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
49Section 09b board cost (computed)Computed——Cash 984,166 + equity 1,045,543 + all other 0 = 2,029,709, summed across the director compensation table rows.
50Archer-Daniels-Midland Company, Section 10b CEO totalDEF 14A2026-03-260001193125-26-126218CEO total compensation as printed in Archer-Daniels-Midland Company's own proxy. As printed: 23,886,978. View filing ↗
51The Chefs’ Warehouse, Inc., Section 10b CEO totalDEF 14A2026-03-250001517175-26-000012CEO total compensation as printed in The Chefs’ Warehouse, Inc.'s own proxy. As printed: 21,961,898. View filing ↗
52Bunge Global SA, Section 10b CEO totalDEF 14A2026-04-100001628280-26-024588CEO total compensation as printed in Bunge Global SA's own proxy. As printed: 18,945,479. View filing ↗
53The Mosaic Company, Section 10b CEO totalDEF 14A2026-04-160001285785-26-000061CEO total compensation as printed in The Mosaic Company's own proxy. As printed: 10,410,935. View filing ↗
54United Natural Foods, Section 10b CEO totalDEF 14A2025-11-050001020859-25-000058CEO total compensation as printed in United Natural Foods's own proxy. As printed: 9,655,175. View filing ↗
55Darling Ingredients Inc., Section 10b CEO totalDEF 14A2026-03-190001193125-26-116042CEO total compensation as printed in Darling Ingredients Inc.'s own proxy. As printed: 9,402,554. View filing ↗
56CVR Partners, LP, Section 10b CEO totalDEF 14A2026-04-210001376139-26-000022CEO total compensation as printed in CVR Partners, LP's own proxy. As printed: 8,602,449. View filing ↗
57Applied Industrial Technologies, Section 10b CEO totalDEF 14A2026-09-100001193125-26-387870CEO total compensation as printed in Applied Industrial Technologies's own proxy. As printed: 7,699,136. View filing ↗
58SiteOne Landscape Supply, Section 10b CEO totalDEF 14A2026-04-020001104659-26-038879CEO total compensation as printed in SiteOne Landscape Supply's own proxy. As printed: 6,177,856. View filing ↗
59MRC Global Inc., Section 10b CEO totalDEF 14A2025-04-170001193125-25-083481CEO total compensation as printed in MRC Global Inc.'s own proxy. As printed: 5,992,594. View filing ↗
60The Marzetti Company, Section 10b CEO totalDEF 14A2026-10-130000057515-26-000025CEO total compensation as printed in The Marzetti Company's own proxy. As printed: 5,743,331. View filing ↗
61Andersons (subject), Section 10b CEO totalDEF 14A2026-03-110001104659-26-026341CEO total compensation as printed in Andersons's own proxy. As printed: 5,472,539. View filing ↗
62John B. Sanfilippo & Son, Inc., Section 10b CEO totalDEF 14A2026-09-140001193125-26-390588CEO total compensation as printed in John B. Sanfilippo & Son, Inc.'s own proxy. As printed: 5,326,942. View filing ↗
63Rex American Resources Corporation, Section 10b CEO totalDEF 14A2026-04-150000930413-26-001049CEO total compensation as printed in Rex American Resources Corporation's own proxy. As printed: 5,275,200. View filing ↗
64B&G Foods, Section 10b CEO totalDEF 14A2026-04-030001104659-26-039621CEO total compensation as printed in B&G Foods's own proxy. As printed: 4,589,619. View filing ↗
65Global Industrial Company, Section 10b CEO totalDEF 14A2026-04-220001628280-26-026622CEO total compensation as printed in Global Industrial Company's own proxy. As printed: 4,413,641. View filing ↗
66Green Plains, Inc., Section 10b CEO totalDEF 14A2026-04-240001309402-26-000050CEO total compensation as printed in Green Plains, Inc.'s own proxy. As printed: 3,497,755. View filing ↗
67Cal-Maine Foods, Inc., Section 10b CEO totalDEF 14A2026-08-180001140361-26-033569CEO total compensation as printed in Cal-Maine Foods, Inc.'s own proxy. As printed: 2,109,221. View filing ↗
68Alto Ingredients, Inc., Section 10b CEO totalDEF 14A2026-04-300001213900-26-050384CEO total compensation as printed in Alto Ingredients, Inc.'s own proxy. As printed: 1,477,220. View filing ↗
69Section 10a, Applied Industrial Technologies reciprocityDEF 14A—0001193125-26-387870Applied Industrial Technologies's most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
70Section 10a, The Mosaic Company reciprocityDEF 14A—0001285785-26-000061The Mosaic Company's most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
71Section 10a, Darling Ingredients Inc. reciprocityDEF 14A—0001193125-26-116042Darling Ingredients Inc. names Andersons in its own disclosed peer group (read from its most recent proxy). View filing ↗
72Section 10a, The Chefs’ Warehouse, Inc. reciprocityDEF 14A—0001517175-26-000012The Chefs’ Warehouse, Inc.'s most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
73Section 10a, Rex American Resources Corporation reciprocityDEF 14A—0000930413-26-001049Rex American Resources Corporation's most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
74Section 10a, SpartanNash Company reciprocityDEF 14A—0000950170-25-048042SpartanNash Company names Andersons in its own disclosed peer group (read from its most recent proxy). View filing ↗
75Section 10a, Cal-Maine Foods, Inc. reciprocityDEF 14A—0001140361-26-033569Cal-Maine Foods, Inc.'s most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
76Section 10a, CVR Partners, LP reciprocityDEF 14A—0001376139-26-000022CVR Partners, LP names Andersons in its own disclosed peer group (read from its most recent proxy). View filing ↗
77Section 10a, John B. Sanfilippo & Son, Inc. reciprocityDEF 14A—0001193125-26-390588John B. Sanfilippo & Son, Inc.'s most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
78Section 10a, Green Plains, Inc. reciprocityDEF 14A—0001309402-26-000050Green Plains, Inc. names Andersons in its own disclosed peer group (read from its most recent proxy). View filing ↗
79Section 10a, Global Industrial Company reciprocityDEF 14A—0001628280-26-026622Global Industrial Company's most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
80Section 10a, United Natural Foods reciprocityDEF 14A—0001020859-25-000058United Natural Foods names Andersons in its own disclosed peer group (read from its most recent proxy). View filing ↗
81Section 10a, Bunge Global SA reciprocityDEF 14A—0001628280-26-024588Bunge Global SA's most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
82Section 10a, SiteOne Landscape Supply reciprocityDEF 14A—0001104659-26-038879SiteOne Landscape Supply's most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
83Section 10a, The Marzetti Company reciprocityDEF 14A—0000057515-26-000025The Marzetti Company's most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
84Section 10a, MRC Global Inc. reciprocityDEF 14A—0001193125-25-083481MRC Global Inc.'s most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗
85Section 10a, B&G Foods reciprocityDEF 14A—0001104659-26-039621B&G Foods's most recent proxy was read; its disclosed peer group does not include Andersons. View filing ↗