Bowe Patrick E.

Bowe Patrick E., President and CEO of Andersons Inc. (ANDE), has been a consistent seller of company stock over the past year, with no open-market purchases recorded in his Form 4 filings. Across 52 total transactions, he has sold approximately $10.56 million worth of ANDE shares, while acquiring only $41,605 in shares—all through compensation-related grants and option exercises rather than discretionary buys. The selling has been steady and substantial: between March and July 2026 alone, he executed 11 open-market sales totaling roughly $8.5 million, including individual transactions of $1.49 million on April 30, $1.33 million on May 5, and $1.05 million on March 16. The pattern is unambiguous in its direction—every discretionary transaction is a sale, and the pace has accelerated in recent months. The largest cluster occurred in late April 2026, with five sales across six trading days (April 21–30) aggregating about $2.7 million. Smaller sales of $38,005 and $70,254 punctuate the larger blocks, suggesting routine portfolio rebalancing rather than a single liquidation event. The only non-sale activity consists of automatic items: equity awards (code A), option exercises (code M), and shares withheld for tax obligations (code F), including a $1.56 million tax-withholding event on February 11, 2026. Notably, Bowe has not purchased ANDE shares on the open market at any point in the filing history, and his recent activity shows zero buys against 11 sells. While the compensation-related transactions (grants, exercises, and tax withholdings) are mechanical and not indicative of conviction, the consistent stream of open-market sales—totaling over $10 million in roughly 16 months—reflects a clear net-selling bias. The absence of any purchase activity, even at lower price points, reinforces that the CEO’s disclosed behavior is heavily weighted toward monetizing his position rather than adding to it.