13 unchanged sentences
Other Information
+Added: Amendment and Restatement of Bylaws
+Added: On 19 November 2025, the Board of Directors approved the amendment and restatement of the Company’s Amended and Restated Bylaws (as further amended and restated, the “Bylaws”), which took effect immediately.
+Added: The Bylaws supersede the previously existing Amended and Restated Bylaws of the Company, which took effect on 31 January 2025.
+Added: The Bylaws were amended to make certain procedural changes to Board and Board committee functions, including revising Article II, Section 2(a) to permit the Chairman of the Board to serve on Board committees and revising Article II, Section 10 and Article II, Section 15 to provide that a majority of the directors must be present to establish a quorum of the Board or a committee, respectively.
+Added: The amendments also provide that the Vice Chairman may call meetings of directors and modify the role of the President to reflect that if the office is filled, he or she will have responsibilities as assigned by the Board.
+Added: The amendments also make a number of changes to reflect updates to the Delaware General Corporation Law and the SEC’s adoption of Rule 14a-19 under the Exchange Act.
+Added: The revisions also make a number of minor updating and conforming changes to remove ambiguity and improve readability.
+Added: This summary of the amendment to the Bylaws is qualified in its entirety by reference to the full text of the Bylaws, which are filed as Exhibit 3.2 to this Annual Report on Form 10-K and are incorporated by reference herein.
+Added: Rule 10b5-1 Trading Plans
None of the Company’s directors or Section 16 reporting officers adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement (as such terms are defined in Item 408 of Regulation S-K) during the fourth quarter of fiscal year 2025.
40 unchanged sentences
(Filed as Exhibit 3.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 30 June 2023.) *
−Removed: 3.2 Amended and Restated Bylaws of the Company.
−Removed: (Filed as Exhibit 3.1 to the Company’s Current Report on Form 8-K dated 17 September 2023.) *
+Added: 3.2 Amended and Restated Bylaws of the Company , dated November 19 , 2025 .
(4) Instruments defining the rights of security holders, including indentures.
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033-57357.) *
−Removed: 4.2 Indenture, dated as of 30 April 2020, between the Company and The Bank of New York Trust Company, N.A., as Trustee.
+Added: 4.2 Indenture, dated as of 30 April 2020, between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee.
(Filed as Exhibit 4.1 to the Company’s Current Report on Form 8-K filed 30 April 2020.) *
4.3 Description of Securities.
−Removed: (Filed as Exhibit 4.3 to the Company's Annual Report on Form 10-K for the year ended 30 September 2023.) *
(10) Material Contracts.
−Removed: 10.1 Amended and Restated Long-Term Incentive Plan of the Company effective 1 October 2014.
−Removed: (Filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on 23 September 2014.) *†
10.1 Air Products and Chemicals, Inc.
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333-252722) filed on 4 February 2021.) *†
−Removed: 10.2(a) Form of Restricted Stock Unit Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2021 awards.
+Added: Form of Restricted Stock Unit Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2022 awards.
(Filed as Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended 31 December 2021.) *†
−Removed: 10.2(b) Form of Restricted Stock Unit Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2022 awards.
+Added: Form of Restricted Stock Unit Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2023 Awards.
(Filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 31 December 2022.) *†
−Removed: 10.2(c) Form of Performance Share Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2022 awards.
+Added: Form of Performance Share Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2023 Awards.
(Filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 31 December 2022.) *†
−Removed: 10.2(d) Form of Restricted Stock Unit Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2023 Awards.
+Added: Form of Restricted Stock Unit Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2024 Awards.
(Filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 31 December 2023.) *†
−Removed: 10.2(e) Form of Performance Share Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2023 Awards.
+Added: Form of Performance Share Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2024 Awards.
(Filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 31 December 2023.) *†
−Removed: 10.2(f) Form of Restricted Stock Unit Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2024 Awards.
+Added: Form of Restricted Stock Unit Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2025 Awards.
(Filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 31 December 2024.) *†
−Removed: 10.2(g) Form of Performance Share Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2024 Awards.
+Added: Form of Performance Share Award Agreement under the Long-Term Incentive Plan of the Company, used for FY2025 Awards.
(Filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 31 December 2024.) *†
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(Filed as Exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the quarter ended 31 December 2021.) *†
−Removed: INDEX TO EXHIBITS
−Removed: 10.3(a) Amendment No.
+Added: Amendment No.
1 to the Air Products and Chemicals, Inc.
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(Filed as Exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the quarter ended 30 June 2022.) *†
−Removed: 10.3(b) Amendment No.
+Added: INDEX TO EXHIBITS
+Added: Amendment No.
2 to the Air Products and Chemicals, Inc.
Retirement Savings Plan as amended and restated effective 1 January 2022.
−Removed: 10.3(c) Amendment No.
+Added: (Filed as Exhibit 10.3(b) to the Company's Annual Report on Form 10-K for the fiscal year ended 30 September 2024.) *†
+Added: Amendment No.
3 to the Air Products and Chemicals, Inc.
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(Filed as Exhibit 10.10 to the Company’s Annual Report on Form 10-K for the fiscal year ended 30 September 2014.) *†
−Removed: 10.4(a) Amendment No.
+Added: Amendment No.
1 dated as of 30 September 2015 to the Supplementary Pension Plan of Air Products and Chemicals, Inc.
1 unchanged sentence
(Filed as Exhibit 10.10(a) to the Company’s Annual Report on Form 10-K for the fiscal year ended 30 September 2015.) *†
−Removed: 10.4(b) Amendment No.
+Added: Amendment No.
2 dated as of 30 September 2016 to the Supplementary Pension Plan of Air Products and Chemicals, Inc.
1 unchanged sentence
(Filed as Exhibit 10.7(b) to the Company's Annual Report on Form 10-K for fiscal year ended 30 September 2016.) *†
−Removed: 10.4(c) Amendment No.
+Added: Amendment No.
3 dated as of 26 July 2017 to the Supplementary Pension Plan of Air Products and Chemicals, Inc.
3 unchanged sentences
10.5 Air Products and Chemicals, Inc.
−Removed: Executive Separation Program as amended effective as of 1 October 2022.
−Removed: (Filed as Exhibit 10.6 to the Company’s Annual Report on Form 10-K for the year ended 30 September 2022.) *†
+Added: Executive Separation Program as amended effective as of 19 November 2025.
10.6 Air Products and Chemicals, Inc.
2 unchanged sentences
10.7 Form of Change in Control Severance Agreement for an Executive Officer.
−Removed: (filed as Exhibit 10.2 of the Company's Current Report on Form 8-K dated 23 September 2014.) *†
−Removed: 10.9 Amended and Restated Employment Agreement, dated 17 May 2023, between Air Products and Chemicals, Inc.
−Removed: and Seifollah Ghasemi (incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K, filed on 18 May 2023.) *†
−Removed: 10.10 Compensation Programs for Nonemployee Directors effective 22 November 2022.
−Removed: (Filed as Exhibit 10.10 to the Company’s Annual Report on Form 10-K for the year ended 30 September 2022.) *†
+Added: ( F iled as Exhibit 10.2 of the Company's Current Report on Form 8-K dated 23 September 2014.) *†
+Added: 10.8 Compensation Programs for Nonemployee Directors amended and restated effective 19 November 2025.
10.9 Deferred Compensation Program for Directors, effective 7 October 2019.
3 unchanged sentences
Amendment No.1 to Revolving Credit Agreement dated as of 22 August 2024.
+Added: (Filed as Exhibit 10.12(a) to the Company's Annual Report on Form 10-K for the fiscal year ended 30 September 2024.) *
10.11 364-Day Revolving Credit Agreement dated as of March 28, 2024 for $500,000,000.
(Filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 31 March 2024.) *
−Removed: (19) Insider Trading Policies and Procedures
+Added: Amendment No.1 to 364-Day Revolving Credit Agreement dated as of 27 March 2025.
+Added: (Filed as Exhibit 10.7 to the Company’s Quarterly Report on Form 10-Q for the quarter ended 31 March 2025.) *
INDEX TO EXHIBITS
+Added: (19) Insider Trading Policies and Procedures
19.1 Air Products and Chemicals, Inc.
Insider Trading Policy.
+Added: (Filed as Exhibit 19.1 to the Company's Annual Report on Form 10-K for the fiscal year ended 30 September 2024.) *
(21) Subsidiaries of the Registrant.
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We will furnish a copy of these agreements to the Securities and Exchange Commission upon request.
−Removed: † Indicated management contract or compensatory arrangement.
+Added: † Indicate management contract or compensatory arrangement.
†† The certification attached as Exhibit 32.1 that accompanies this Annual Report on Form 10-K, is not deemed filed with the SEC and is not to be incorporated by reference into any filing of Air Products and Chemicals, Inc.
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Signature and Title Date
−Removed: /s/ Seifi Ghasemi 21 November 2024
−Removed: Seifi Ghasemi
−Removed: Director, Chairman, President, and
−Removed: Chief Executive Officer
+Added: /s/ Eduardo F.
+Added: Menezes 20 November 2025
+Added: Chief Executive Officer and Director
(Principal Executive Officer)
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* 20 November 2025
−Removed: Charles Cogut
* 20 November 2025
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* 20 November 2025
+Added: Vice Chairman of the Board of Directors
* 20 November 2025
−Removed: Major, Executive Vice President, General Counsel and Secretary, by signing his name hereto, does sign this document on behalf of the above noted individuals, pursuant to a power of attorney duly executed by such individuals, which is filed with the Securities and Exchange Commission herewith.
−Removed: Executive Vice President, General Counsel and Secretary
+Added: Chairman of the Board of Directors
* 20 November 2025
+Added: * 20 November 2025
+Added: Howard Ungerleider
+Added: * Matthew Lepore, Executive Vice President, General Counsel, Chief Compliance Officer and Secretary, by signing his name hereto, does sign this document on behalf of the above noted individuals, pursuant to a power of attorney duly executed by such individuals, which is filed with the Securities and Exchange Commission herewith.
+Added: /s/ Matthew Lepore
+Added: Matthew Lepore
+Added: Executive Vice President, General Counsel, Chief Compliance Officer and Secretary
+Added: 20 November 2025
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.