Air Products (NYSE: APD) director receives new phantom stock unit award
Rhea-AI Filing Summary
CALAWAY TONIT M reported acquisition or exercise transactions in this Form 4 filing.
Air Products & Chemicals, Inc. director Tonit M. Calaway received a grant of phantom stock units under the company’s Deferred Compensation Program for Directors. The award covers 18.8644 phantom stock units tied to the value of common shares at a reference price of $291.56 per unit.
Following this grant, Calaway holds a total of 3,091.5469 phantom stock units. These units are payable in shares of common stock after board service ends, at a time and in either a lump sum or up to ten installments previously elected by the director.
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Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
CALAWAY TONIT M
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 18.8644 | $291.56 | $6K |
Holdings After Transaction:
Phantom Stock — 3,091.5469 shares (Direct)
Footnotes (3)
- F1. Phantom deferred stock units (Units) acquired under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors, under the Company's Long-Term Incentive Plan.
- F2. Not applicable to this security
- F3. These Units are payable in the form of shares of common stock equal in number to the Units, at the time elected by the reporting person, which is generally after service on the Company's Board of Directors ends. Units may be paid in a lump sum or up to ten installments as elected by the reporting person in advance.
Key Figures
Phantom stock units granted: 18.8644 units
Reference price per unit: $291.56 per unit
Total phantom units after grant: 3,091.5469 units
+1 more
4 metrics
Phantom stock units granted
18.8644 units
Grant under Deferred Compensation Program for Directors on March 31, 2026
Reference price per unit
$291.56 per unit
Value used for phantom stock grant
Total phantom units after grant
3,091.5469 units
Director’s phantom stock balance following this award
Conversion price
$0.00
Conversion or exercise price for phantom stock units
Key Terms
Phantom Stock, Deferred Compensation Program for Directors, Long-Term Incentive Plan, Units
4 terms
Phantom Stock financial
"security_title: "Phantom Stock" and footnote describing Units acquired"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Deferred Compensation Program for Directors financial
"acquired under the Air Products Stock Account of the issuer's Deferred Compensation Program for Directors"
Long-Term Incentive Plan financial
"under the Company's Long-Term Incentive Plan"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
Units financial
"These Units are payable in the form of shares of common stock equal in number to the Units"
Units are bundled securities sold as one package in a financing—commonly a share paired with an instrument that gives the holder the right to buy more shares later. For investors this matters because a unit’s extra component can change future supply of shares and potential returns, similar to buying a combo with a coupon that can be redeemed later and alter what you actually receive and what others might own.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did APD director Tonit M. Calaway report on this Form 4?
APD director Tonit M. Calaway reported receiving 18.8644 phantom stock units as a compensation grant. These units were awarded under Air Products’ Deferred Compensation Program for Directors and track the value of the company’s common stock over time, rather than being an immediate cash or share purchase.
How many phantom stock units does Tonit M. Calaway hold after this APD grant?
After this grant, Tonit M. Calaway holds 3,091.5469 phantom stock units linked to Air Products’ common stock. This total includes the newly awarded 18.8644 units and represents her accumulated deferred stock-based compensation as a member of the company’s Board of Directors over time.
How are APD phantom stock units for directors ultimately paid out?
The phantom stock units for APD directors are payable in shares of common stock equal to the number of units. Payment generally occurs after the director’s board service ends, either in a single lump sum or in up to ten installments, according to the payout schedule previously elected.
What is the reference value per phantom unit in this APD Form 4 filing?
Each phantom stock unit in this APD filing references a value of $291.56 per unit. This figure reflects the price used in crediting the 18.8644 units under the Deferred Compensation Program for Directors, aligning their value with the company’s common stock performance over time.
Is this APD Form 4 transaction a market purchase or sale of common stock?
This APD Form 4 does not report a market purchase or sale of common stock. Instead, it records a compensation-related grant of 18.8644 phantom stock units, which are deferred equity-based awards that convert into common shares after the director’s board service concludes, based on prior elections.