Form 4: Air Products Director Edward L. Monser Reports Acquisition of Phantom Stock Units

Director Edward L. Monser reports acquiring phantom stock units in Air Products & Chemicals, Inc. through a deferred compensation program.

Summary

• On March 31, 2024, Edward L. Monser, a director of Air Products & Chemicals, Inc., acquired 113.5886 phantom stock units under the company's Deferred Compensation Program for Directors.
• These units are payable in shares of common stock after the director's service on the board ends, with payment options including a lump sum or up to ten installments.
• Following the transaction, Monser directly owns 15,838.7893 shares of Air Products & Chemicals, Inc. common stock.
• The price of the phantom stock was $242.27.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a director's continued investment in the company through a standard compensation program, indicating confidence in the company's future.

Positives

• The acquisition of phantom stock units demonstrates the director's continued investment and alignment with the company's long-term performance.

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

This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company directors. It is common for directors to receive stock-based compensation as part of their overall remuneration.

Comparison to Industry Standards

• Stock-based compensation for directors is a common practice across publicly traded companies.
• Companies like Linde, Sherwin-Williams, and PPG Industries also utilize stock options and restricted stock units as part of their director compensation packages.
• The specific amount and type of equity compensation vary based on company size, performance, and industry norms.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation and alignment with company performance.

Key Dates