Form 4: Air Products Director Acquires Phantom Stock Units

Director Jessica Graziano acquired 485.9382 phantom stock units under Air Products' Deferred Compensation Program for Directors.

Summary

• Jessica Graziano, a director at Air Products & Chemicals, Inc., acquired 485.9382 phantom stock units on January 24, 2025.
• These units were acquired through the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors, under the Company's 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 $329.26 per share.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally neutral to positive. It indicates alignment of director interests with the company's long-term performance.

Future Outlook

The phantom stock units will be converted to common stock shares at a future date, generally after the director's board service ends.

Industry Context

This is a routine filing related to director compensation and is common practice for publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock units, are a common method of compensating directors in publicly traded companies.
• The structure of Air Products' plan, with units converting to shares after board service, is consistent with industry norms.
• Many companies, such as Linde, Sherwin-Williams, and Dow, use similar deferred compensation methods for their directors.

Stakeholder Impact

• The transaction aligns director interests with long-term shareholder value.
• The acquisition of phantom stock units is part of the company's compensation strategy for directors.

Key Dates

Keywords

phantom stock, deferred compensation, director, stock units, Air Products, insider trading, equity compensation