CALAWAY TONIT M 4

What Happened

• Tonit M. Calaway, a director of Air Products & Chemicals, Inc. (APD), received a grant of 733.251 phantom deferred stock units on 2026-01-28. The units are valued at $259.12 each for a total grant value of $190,000. This was reported as an Award (transaction code A) and is a derivative interest, not an open-market purchase of shares.

Key Details

• Transaction date: 2026-01-28; filing date: 2026-01-29 (timely filing).
• Units granted: 733.251 phantom deferred stock units; per-unit valuation: $259.12; total value: $190,000.
• Shares owned after transaction: not specified in the provided Form 4.
• Footnotes: (F1) These are phantom deferred stock units under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors (Long-Term Incentive Plan). (F3) Units are payable in shares equal to the number of units at the time elected by the director (generally after board service ends) and may be paid as a lump sum or up to ten installments. (F2) Not applicable to this security.
• This is an award/compensation grant (derivative units), not a cash purchase or sale.

Context

• Phantom deferred stock units are a form of deferred compensation: they track the value of common stock but are paid out later (in shares) according to the director's election, typically after service ends. They do not represent immediately tradable shares and therefore are different from open-market purchases or immediate insider sales.