Air Products Director Dennis H. Reilley Acquires Phantom Stock in Deferred Compensation Plan

Overview & Context

On October 1, 2026, Air Products & Chemicals, Inc. ($APD) filed a Form 4 disclosing a routine equity award to Director Dennis H. Reilley. The transaction occurred on September 30, 2026, corresponding to the end of the company's fiscal quarter and fiscal year.

Transaction Details

• Security: Phantom Stock
• Transaction Code: A (Award / Grant)
• Units Acquired: 17.4990
• Stated Price per Share: $279.19
• Total Transaction Value: ~$4,885.55
• Beneficial Ownership Following Transaction: 2,716.6989 Phantom Stock units held directly.

Nature of the Grant

According to the footnotes, these phantom deferred stock units were acquired under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors pursuant to the Company's Long-Term Incentive Plan. Units are payable in shares of common stock upon the conclusion of Mr. Reilley's service on the Board of Directors, distributed either in a lump sum or in up to ten annual installments.

Market & Strategic Significance

This acquisition represents an automated, routine credit of deferred director compensation rather than an open-market discretionary transaction. Given the modest transaction amount (~$4,885.55) and the administrative nature of deferred fee credits, the transaction holds Low informational or trading significance for investors.