Form 4: Air Products Director Alfred Stern Acquires Phantom Stock

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

Summary

• Director Alfred Stern acquired phantom stock units on June 30, 2026, under Air Products' Deferred Compensation Program for Directors.
• These units are part of the company's Long-Term Incentive Plan.
• The phantom stock units are payable in shares of common stock.
• Payment can be elected by the reporting person, generally after their service on the Board of Directors ends.
• Units can be paid in a lump sum or up to ten installments as elected in advance.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it represents a routine acquisition of phantom stock by a director under an existing incentive plan, with no immediate financial impact or significant strategic shift indicated.

Positives

• Director Alfred Stern's acquisition of phantom stock units indicates continued alignment with the company's long-term incentive plan.
• The structure of the phantom stock allows for flexible payout options, potentially benefiting the director upon departure from the board.

Future Outlook

The 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, with options for lump sum or installment payments.

Industry Context

StockSavvy.ai notes that director compensation structures, including phantom stock and deferred compensation plans, are common in the industrial gases sector as a means to align executive and director interests with long-term shareholder value.

Stakeholder Impact

• Shareholders: The acquisition of phantom stock by a director reinforces alignment with long-term company performance, which is generally viewed positively by shareholders.

Next Steps

• The phantom stock units will be 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.
• Payment may be made in a lump sum or up to ten installments as elected by the reporting person in advance.

Key Dates

Keywords

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