Air Products (APD) Director Ungerleider Receives Deferred Stock Units

What Happened

• Howard I. Ungerleider, a director of Air Products & Chemicals, Inc. (APD), was granted 6.323 phantom deferred stock units on 2026-09-30. The units are valued at $279.19 each, for a total reported value of $1,765. The transaction is reported as an award/acquisition (derivative instrument) under the company’s director Deferred Compensation Program.

Key Details

• Transaction date: 2026-09-30; Filing date: 2026-10-01 (appears timely).
• Instrument: Phantom deferred stock units (derivative), code A (award/grant).
• Quantity and value: 6.323 units × $279.19 = $1,765 (reported).
• Shares/units owned after transaction: Not specified in the filing.
• Footnotes: F1 — Units were acquired under the Air Products Stock Account of the issuer’s Deferred Compensation Program for Directors. F3 — Units are payable in shares equal to the number of units at a time elected by the reporting person (generally after board service ends), payable as a lump sum or up to ten installments. F2 not applicable.
• No indication of a 10b5-1 plan or tax-withholding sale; this is a routine director compensation grant.

Context

• These are phantom deferred stock units, not an open-market purchase or immediate sale. They convert to common shares (at the holder’s election, typically after board service) and are part of long-term/director compensation, so they should be viewed as routine compensation rather than a direct bullish or bearish market signal.