Form 4: Air Products Director Charles I. Cogut Reports Acquisition of Phantom Stock Units

Director Charles I. Cogut reports acquiring phantom stock units in Air Products & Chemicals, Inc. through a deferred compensation program.

Summary

• Charles I. Cogut, a director of Air Products & Chemicals, Inc., filed a Form 4 on January 3, 2025, reporting a transaction that occurred on December 31, 2024.
• The transaction involved the acquisition of 50.0854 phantom stock units under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors.
• These units are payable in the form of shares of common stock, with the timing of payment elected by the reporting person, generally after their service on the Board of Directors ends.
• The price of the derivative security is $288.69.
• Following the reported transaction, Cogut beneficially owns 8,219.0959 derivative securities.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, indicating a neutral to slightly positive sentiment as it aligns director interests with company performance.

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 directors to defer income and potentially benefit from future stock appreciation.

Future Outlook

The phantom stock units will be converted to common stock at a future date, as elected by the reporting person.

Industry Context

This filing is a routine disclosure related to executive compensation and is common among publicly traded companies.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by aligning management's interests with those of the shareholders.

Key Dates