Form 4: Air Products & Chemicals Director Andrew W. Evans Acquires Phantom Stock Units

Air Products & Chemicals, Inc. Director Andrew W. Evans acquired 3.0993 phantom stock units on June 30, 2025, increasing his beneficial ownership to 491.9804 units.

Summary

• Andrew W. Evans, a Director of Air Products & Chemicals, Inc. (APD), acquired 3.0993 phantom stock units.
• The transaction occurred on June 30, 2025.
• These units were acquired under the Air Products Stock Account of the company's Deferred Compensation Program for Directors, which is part of the Long-Term Incentive Plan.
• Each phantom stock unit is equivalent to one share of common stock, with an implied value of $282.35 per unit at the time of acquisition.
• Following this acquisition, Mr. Evans beneficially owns a total of 491.9804 phantom stock units.
• The units are payable in the form of shares of common stock, generally after the reporting person's service on the Board of Directors ends, and can be paid in a lump sum or up to ten installments as elected by the reporting person.

Sentiment

Score: 6

Explanation: The filing indicates a routine acquisition of phantom stock units by a director as part of a compensation plan, which is a positive sign of alignment with shareholder interests, though not indicative of new strategic initiatives or significant financial performance changes.

Positives

• Director Andrew W. Evans increased his beneficial ownership in Air Products & Chemicals, Inc. by acquiring 3.0993 phantom stock units.
• The acquisition of phantom stock units under a deferred compensation program aligns the director's long-term interests with those of shareholders, as the value is tied to the company's common stock performance.

Future Outlook

Phantom stock units are payable in shares of common stock at a time elected by the reporting person, generally after service on the Company's Board of Directors ends, and may be paid in a lump sum or up to ten installments.

Industry Context

The acquisition of phantom stock units as part of a deferred compensation program is a common practice in many industries, including the chemicals sector, to align the interests of directors with long-term shareholder value.

Related Party Transactions

• The acquisition of phantom stock units by a director under the company's Deferred Compensation Program for Directors constitutes a related party transaction, which is a standard component of director compensation.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock units by a director aligns their long-term interests with shareholder value, as the units are tied to the company's common stock performance.

Next Steps

• Phantom stock units will be paid out in shares of common stock after the reporting person's service on the Board of Directors ends, either in a lump sum or up to ten installments as elected.

Key Dates

Keywords

Air Products & Chemicals, APD, Andrew W. Evans, Form 4, Insider Transaction, Phantom Stock, Deferred Compensation, Director Compensation, Stock Units