Stern Alfred 4

What Happened

• Alfred Stern, a member of the Board of Directors of Air Products & Chemicals, Inc. (APD), was granted 733.251 phantom deferred stock units on 2026-01-28. The grant is reported as a derivative award (transaction code A) with a per-unit value of $259.12, for an aggregate reported value of $190,000.
• These Units are not immediate common shares; they are deferred stock units issued under the company's Director Deferred Compensation Program / Long-Term Incentive Plan.

Key Details

• Transaction date: 2026-01-28; reported on Form 4 filed 2026-01-29.
• Grant: 733.251 phantom deferred stock units at $259.12 per unit; total reported value $190,000.
• Shares owned after transaction: not disclosed in this filing.
• Footnotes: (F1) Units are phantom deferred stock units under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors. (F3) Units will be paid in shares equal to the number of Units at the time elected by the reporting person (typically after board service ends); payment may be in a lump sum or up to 10 installments. (F2) Not applicable.
• Filing timeliness: No late filing indicated.

Context

• This is a director award (deferred compensation), not an open-market purchase or sale. The Units represent a promise to receive shares later (per the plan), so they are not immediately tradable stock and do not reflect an immediate cash investment or divestment by the director.
• Such grants are common for non-employee directors as part of regular compensation and should be viewed as routine compensation rather than a direct bullish or bearish signal.