Form 4: Air Products Director Dennis H. Reilley Reports Acquisition of Phantom Stock Units

Director Dennis H. Reilley reports acquisition of phantom stock units under Air Products' Deferred Compensation Program.

Summary

• On January 24, 2025, Dennis H. Reilley, a director of Air Products & Chemicals, Inc., acquired 485.9382 phantom stock units at a price of $329.26.
• These units are part of the Air Products Stock Account within the Deferred Compensation Program for Directors, under the Company's Long-Term Incentive Plan.
• On February 9, 2025, Reilley acquired an additional 644.0187 phantom stock units at a price of $310.55.
• Following these transactions, Reilley directly owns 1,129.9569 phantom stock units.
• These units are payable in shares of common stock after the director's service on the Board ends, either in a lump sum or up to ten installments.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard compensation practices and aligns director interests with the company's long-term 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 for Directors provides a mechanism for accumulating company stock, potentially enhancing shareholder value.

Future Outlook

The phantom stock units will be payable in shares of common stock at a future date elected by the reporting person, generally after service on the Company's Board of Directors ends.

Industry Context

Deferred compensation plans and stock-based compensation are common practices for aligning the interests of directors and executives with the long-term performance of the company. This filing reflects standard compensation practices within publicly traded companies.

Comparison to Industry Standards

• Companies like Linde, Sherwin-Williams, and PPG Industries also utilize stock-based compensation for their directors.
• The specific terms of deferred compensation plans vary, but the general principle of aligning director compensation with shareholder value is widespread.
• The number of phantom stock units granted and their valuation are within typical ranges for director compensation at companies of similar size and industry.

Stakeholder Impact

• Shareholders may view the acquisition of phantom stock units as a positive sign, indicating that the director's interests are aligned with the company's long-term success.
• Employees may see this as a standard part of executive compensation.

Key Dates

Keywords

phantom stock, director, Air Products, deferred compensation, stock units, Form 4