Form 4: Air Products Director Lisa Ann Davis Reports Acquisition of Phantom Stock Units

Lisa Ann Davis, a director at Air Products & Chemicals, Inc., reported the acquisition of phantom stock units under the company's Deferred Compensation Program for Directors.

Summary

• On December 31, 2024, Lisa Ann Davis, a director of Air Products & Chemicals, Inc., acquired 18.4603 phantom stock units.
• These units were obtained through the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors, under the Company's Long-Term Incentive Plan.
• The price of the phantom stock was $288.69 per unit.
• Following the transaction, Davis directly owns 3,029.3652 shares of common stock.
• The phantom stock units are payable in shares of common stock after Davis's service on the Board of Directors ends, with payment options including a lump sum or up to ten installments.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction related to director compensation, indicating alignment of interests between the director and the company's shareholders.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.
• The Deferred Compensation Program for Directors aligns the interests of directors with those of shareholders.

Future Outlook

The phantom stock units will be payable in the form of 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

Director stock acquisitions are common in publicly traded companies as part of compensation packages designed to align management's interests with shareholder value. This filing is a routine disclosure required by the SEC.

Comparison to Industry Standards

• Director compensation packages often include stock options, restricted stock units, or phantom stock to incentivize long-term performance.
• Companies like Linde, Sherwin-Williams, and PPG Industries also utilize similar equity-based compensation plans for their executives and directors.
• The specific terms and amounts of these awards vary based on company size, performance, and industry practices.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder confidence by demonstrating a commitment to the company's long-term success.

Key Dates