Form 4: Air Products Director Patel Acquires Phantom Stock Units

Director Bhavesh V. Patel acquired phantom stock units in Air Products & Chemicals, Inc. through a deferred compensation program.

Summary

• On March 31, 2025, Bhavesh V. Patel, a director at Air Products & Chemicals, Inc., acquired 86.9593 phantom stock units.
• The acquisition was made under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors, part of the Company's Long-Term Incentive Plan.
• 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, Patel directly owns 572.8975 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to executive compensation, indicating a neutral sentiment.

Future Outlook

The phantom stock units are 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 filing reflects standard executive compensation practices, where phantom stock units are used to align the interests of directors with the long-term performance of the company. These programs are common among publicly traded companies to incentivize and retain key personnel.

Stakeholder Impact

• The acquisition of phantom stock units by a director aligns their interests with those of shareholders, potentially encouraging decisions that benefit the company's long-term value.

Key Dates

Keywords

Form 4, Air Products & Chemicals, Director, Bhavesh V. Patel, Phantom Stock Units, Deferred Compensation, Long-Term Incentive Plan, APD