What does the indirect APD share ownership "By RSP" mean for the CFO?

The Form 4 lists 455.245 shares of common stock as indirectly owned “By RSP.” This indicates the shares are held through a plan-related vehicle, such as a restricted stock or retirement savings plan, rather than in the CFO’s direct individual brokerage account.

Air Products (NYSE: APD) CFO sells 2,714 shares at about $304

Q: What insider transaction did APD CFO Melissa Schaeffer report on this Form 4?

Melissa N. Schaeffer, executive vice president and CFO of Air Products & Chemicals, Inc. (APD) , reported an open-market sale of 2,714 shares of common stock. The transaction occurred on May 1, 2026 and is disclosed as a standard Form 4 insider filing.

Q: How many Air Products (APD) shares did the CFO sell and at what price?

The CFO sold 2,714 shares of Air Products common stock at an average price of $303.76 per share. A footnote states the actual sale prices ranged from $303.19 to $304.32 , indicating the shares were sold in multiple trades within that range.

Q: How many Air Products (APD) shares does the CFO hold after this sale?

After the reported sale, Melissa Schaeffer directly owns 14,212 shares of Air Products common stock. She also has an additional 455.245 shares held indirectly, noted as held “By RSP,” which indicates a separate restricted stock or similar plan-related holding.

Q: Was the APD CFO’s transaction a buy or a sell according to the Form 4?

The Form 4 classifies the CFO’s main transaction as a sale . The transaction code is “S,” described as an open-market or private sale of common stock, and the normalized transaction direction field identifies it clearly as a sell rather than a purchase.

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Air Products & Chemicals, Inc. executive vice president and CFO Melissa N. Schaeffer reported an open-market sale of 2,714 shares of common stock on May 1, 2026 at an average price of $303.76 per share, with actual prices ranging from $303.19 to $304.32. Following this transaction, she directly holds 14,212 common shares and has an additional 455.245 shares held indirectly through an RSP.

Insider Trade Summary

Net Seller: 2,714 shares ($824,405)

Net Sell 2 txns

Insider Schaeffer Melissa N.

Role Exec Vice President and CFO

Sold 2,714 shs ($824K)

Type	Security	Shares	Price	Value
Sale	Common Stock	2,714	$303.76	$824K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 14,212 shares (Direct, null); Common Stock — 455.245 shares (Indirect, By RSP)

Footnotes (1)

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Key Figures

Shares sold: 2,714 shares Average sale price: $303.76 per share Sale price range: $303.19–$304.32 +2 more

5 metrics

Shares sold 2,714 shares Open-market sale of common stock on May 1, 2026

Average sale price $303.76 per share Price for 2,714 common shares sold

Sale price range $303.19–$304.32 Footnote range for executed sale trades

Direct holdings after sale 14,212 shares Common stock directly owned post-transaction

Indirect holdings (RSP) 455.245 shares Common stock held indirectly By RSP

Key Terms

Form 4, open-market sale, Common Stock, indirect ownership, +1 more

5 terms

Form 4 regulatory

"Reported as a Form 4 insider transaction by the company’s CFO."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

open-market sale financial

"The transaction is coded as an open-market sale of common stock."

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Common Stock financial

"All reported transactions involve non-derivative Common Stock."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

indirect ownership financial

"An additional 455.245 shares are listed under indirect ownership."

RSP financial

"Indirectly owned shares are described as held "By RSP"."

Form 4 Insider Transactions: What Each Field Means →

05/04/2026 - 10:04 AM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schaeffer Melissa N.

(Last)

(First)

(Middle)

1940 AIR PRODUCTS BLVD.

(Street)

ALLENTOWN

PENNSYLVANIA

18106-5500

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Air Products & Chemicals, Inc. [ APD ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Exec Vice President and CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/01/2026		S		2,714	D	$303.76⁽¹⁾	14,212	D
Common Stock								455.245	I	By RSP

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Actual sale price ranged from $303.19 - $304.32

	Andrea I. Rennig as Attorney in Fact	05/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did APD CFO Melissa Schaeffer report on this Form 4?

Melissa N. Schaeffer, executive vice president and CFO of Air Products & Chemicals, Inc. (APD), reported an open-market sale of 2,714 shares of common stock. The transaction occurred on May 1, 2026 and is disclosed as a standard Form 4 insider filing.

How many Air Products (APD) shares did the CFO sell and at what price?

The CFO sold 2,714 shares of Air Products common stock at an average price of $303.76 per share. A footnote states the actual sale prices ranged from $303.19 to $304.32, indicating the shares were sold in multiple trades within that range.

How many Air Products (APD) shares does the CFO hold after this sale?

After the reported sale, Melissa Schaeffer directly owns 14,212 shares of Air Products common stock. She also has an additional 455.245 shares held indirectly, noted as held “By RSP,” which indicates a separate restricted stock or similar plan-related holding.

Was the APD CFO’s transaction a buy or a sell according to the Form 4?

The Form 4 classifies the CFO’s main transaction as a sale. The transaction code is “S,” described as an open-market or private sale of common stock, and the normalized transaction direction field identifies it clearly as a sell rather than a purchase.

Did the APD Form 4 show any option exercises or derivative transactions?

The filing’s derivative section is empty, and the summary shows no derivative transactions or option exercises. All reported activity involves non-derivative common stock, with one sale transaction and a separate indirect holding entry related to an RSP position.