Form 4: Air Products Director Stern Acquires Phantom Stock Units

Director Alfred Stern acquired phantom stock units in Air Products & Chemicals, Inc. through a deferred compensation program.

Summary

• On March 31, 2025, Alfred Stern, a director of Air Products & Chemicals, Inc., acquired 61.7544 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.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard executive compensation practices and insider alignment with company performance. There are no indications of negative implications.

Future Outlook

The phantom stock units will be converted to common stock at a future date, determined by the reporting person's election after their service on the Board of Directors ends.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, as the value of the units is tied to the company's stock performance.

Key Dates

Keywords

Form 4, Air Products & Chemicals, Director, Alfred Stern, Phantom Stock Units, Deferred Compensation, Long-Term Incentive Plan, Beneficial Ownership