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

Air Products director Jessica Graziano acquired 119.5345 phantom stock units through the company's deferred compensation program.

Summary

• Jessica Graziano, a director at Air Products & Chemicals, Inc., acquired 119.5345 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, with the timing of payment elected by the reporting person, typically after their service on the Board of Directors ends.
• The units can be paid in a lump sum or up to ten installments, as chosen by the reporting person in advance.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed positively as it aligns interests. There are no indications of any negative or unexpected events.

Positives

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

Future Outlook

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

Industry Context

This type of deferred compensation is a common practice for directors of publicly traded companies, aligning their interests with long-term shareholder value.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock units, are a standard practice for director compensation in many large publicly traded companies.
• Companies like Linde, Sherwin-Williams, and Dow also utilize similar long-term incentive plans for their directors.
• The specific terms of these plans can vary, but the general goal is to align director compensation with long-term company performance.

Stakeholder Impact

• The acquisition of phantom stock units by a director is generally viewed positively by shareholders as it aligns the director's interests with the long-term performance of the company.
• The deferred compensation program does not have a direct impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

phantom stock, deferred compensation, director, stock units, Air Products, long-term incentive plan, equity