Patel Bhavesh V. 4

What Happened

• Bhavesh V. Patel, a director of Air Products & Chemicals, Inc. (APD), was granted 130.457 phantom deferred stock units on March 31, 2026. The units are valued at $291.56 each, for a total reported value of $38,036. This transaction is reported as an award/grant (transaction code A) of a derivative security, not an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-03-31; 130.457 units @ $291.56 each (total $38,036).
• Security type: Phantom deferred stock units (derivative) under the company’s Deferred Compensation Program for Directors and Long-Term Incentive Plan (footnote F1).
• Payment/conversion: Units are payable in shares of common stock equal to the number of units at a time elected by the director (typically after board service ends); payout may be a lump sum or up to 10 installments (footnote F3).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Filing timeliness: Reported with period ending 2026-03-31 and filed 2026-04-01 — appears to be a routine, timely Form 4 filing.
• Transaction code: A = Award/Grant.

Context

• These are deferred compensation units (a derivative award), not an immediate stock purchase or sale; they represent future rights to receive company shares under the director compensation plan. Such awards are routine for board members and reflect compensation rather than a direct trading signal.