Andersons, Inc. — Form 10-Q

Andersons, Inc. amended its Change in Control and Severance Policy effective November 3, 2026. The policy covers three tiers of employees (Tier 1: CEO and designated executives; Tier 2: officers; Tier 3: other designated key employees). For qualifying terminations within 2 years post-Change in Control, Tier 1 and Tier 2 participants receive 2 years of base salary plus prorated target bonus; Tier 3 receives 1 year. Outside Change in Control context, Tier 1 receives 2 years severance, Tier 2 receives 1 year, Tier 3 receives up to 1 year per agreement. The policy includes non-compete (duration = severance period), non-solicitation, and confidentiality covenants; health benefit continuation for 18 months (Tier 1/2) or 1 year (Tier 3); and outplacement services. Specific dollar amounts and participant names are not disclosed.