Form 4: Air Products Director Acquires Phantom Stock Units

Howard I. Ungerleider, a Director at Air Products & Chemicals, Inc., acquired phantom stock units under the company's Deferred Compensation Program.

Summary

• Howard I. Ungerleider, a Director of Air Products & Chemicals, Inc., acquired phantom deferred stock units on June 30, 2026.
• These units were acquired under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors, as part of the Company's Long-Term Incentive Plan.
• The phantom stock units are payable in shares of common stock, with payment generally occurring after service on the Board of Directors ends.
• Payment can be made in a lump sum or up to ten installments, as elected by the reporting person in advance.
• The reporting person acquired 6.4626 units, which are valued at $271.35 per unit, resulting in a total of 975.3141 shares of common stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine grant of equity compensation to a director rather than a significant strategic event or financial performance indicator.

Positives

• Director participation in long-term incentive plans indicates alignment with company performance.
• Acquisition of phantom stock units suggests continued commitment and belief in the company's future value.
• The structure allows for flexible payout options, potentially benefiting the director based on future company performance and personal financial planning.

Risks

• The value of the phantom stock units is tied to the future performance of Air Products' common stock, which is subject to market volatility.
• Potential for changes in the company's long-term incentive plan or deferred compensation program that could affect the value or payout of these units.

Future Outlook

The phantom stock units are payable in shares of common stock at a time elected by the reporting person, generally after their service on the Board of Directors ends, with options for lump sum or installment payments.

Industry Context

StockSavvy.ai notes that the acquisition of phantom stock units by a director is a common practice in the industrial gases sector, reflecting a commitment to long-term value creation and alignment with shareholder interests.

Related Party Transactions

• Acquisition of phantom deferred stock units by Director Howard I. Ungerleider under the company's Deferred Compensation Program for Directors.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock units by a director can be seen as a positive signal of management's commitment to the company's long-term success.
• Employees: The incentive plan structure may reflect broader compensation strategies within the company.
• Management: The transaction is part of the director's compensation package, aligning their interests with those of shareholders.

Next Steps

• The phantom stock units will be paid out in shares of common stock at a future date elected by the reporting person, typically after their tenure as a director concludes.
• Payment can be received as a lump sum or spread over up to ten installments.

Key Dates

Keywords

Air Products & Chemicals, APD, Form 4, Director, Phantom Stock, Deferred Compensation, Long-Term Incentive Plan, Stock Units, Beneficial Ownership, SEC Filing