Graziano Jessica 4

What Happened

• Jessica Graziano, a director of Air Products & Chemicals, Inc. (APD), was granted 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 transaction is reported as an award/acquisition (derivative units), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-01-28; reported on Form 4 filed 2026-01-29 (timely).
• Grant: 733.251 phantom deferred stock units @ $259.12 per unit; total value $190,000.
• Security type: Derivative (phantom deferred stock units) acquired under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors and the Company’s Long-Term Incentive Plan (footnote F1).
• Payout terms: Units are payable in shares of common stock equal to the number of units, at a time elected by the director (generally after board service ends). Units may be paid in a lump sum or up to ten installments as elected in advance (footnote F3).
• Shares owned after transaction: Not specified in the filing.
• No 10b5-1 plan, tax withholding, or other special filing notes are indicated in this report.

Context

• These phantom units represent deferred compensation that converts to actual shares when paid out; they do not represent an immediate open-market purchase or sale. Such awards are common for non-employee directors as part of long-term compensation and do not by themselves indicate the director is buying or selling stock in the open market.