Form 4: Air Products CEO Acquires Phantom Stock Units Through Deferred Compensation Plan

Air Products & Chemicals CEO, Seifi Ghasemi, acquired 20.3427 phantom stock units through the company's deferred compensation program.

Summary

• Seifi Ghasemi, the Chairman, President, and CEO of Air Products & Chemicals, Inc., acquired 20.3427 phantom stock units on December 31, 2024.
• These units were acquired through the Air Products Stock Account of the company's Deferred Compensation Program for Directors, under the Long-Term Incentive Plan.
• The phantom stock units are payable in the form of common stock shares, equal to the number of units, at a time elected by the reporting person, generally after their service on the Board of Directors ends.
• The units can be paid in a lump sum or up to ten installments, as elected by the reporting person in advance.
• The price of the underlying common stock at the time of the transaction was $288.69 per share.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally viewed neutrally to slightly positive as it aligns management with long-term company performance.

Positives

• The acquisition of phantom stock units aligns the CEO's interests with the long-term performance of the company.
• The deferred compensation program allows for flexible payout options for the CEO.

Future Outlook

The phantom stock units will be converted to common stock at a future date, as elected by the reporting person, generally after their service on the Board of Directors ends.

Industry Context

This type of transaction is common for executive compensation packages, aligning management's interests with long-term shareholder value.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock units, are a standard practice in executive compensation across various industries, including the chemical and industrial gas sector.
• Companies like Linde and Sherwin-Williams also utilize similar long-term incentive plans for their executives.
• The specific terms of these plans, such as vesting periods and payout options, can vary, but the general structure is consistent with industry norms.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the CEO's interests with the long-term performance of the company.

Key Dates

Keywords

phantom stock, deferred compensation, stock units, insider trading, Air Products, Seifi Ghasemi, executive compensation, long-term incentive plan