Air Products & Chemicals Files Proxy Materials

TL;DR

APCI just dropped more proxy docs, standard shareholder stuff.

AI Summary

Air Products & Chemicals, Inc. filed a Definitive Additional Materials proxy statement on December 6, 2024. This filing is related to the company's proxy materials and does not involve a preliminary statement or soliciting material under Rule 14a-12. The company is incorporated in Delaware and its fiscal year ends on September 30.

Why It Matters

This filing indicates that Air Products & Chemicals, Inc. is providing additional materials to shareholders related to proxy voting, which is a standard part of corporate governance and shareholder engagement.

Risk Assessment

Risk Level: low — This filing is a routine proxy statement, not indicating any unusual financial events or significant corporate actions.

Key Players & Entities

• Air Products & Chemicals, Inc. (company) — Registrant
• 20241206 (date) — Filing Date
• DEFA14A (document_type) — Filing Type

FAQ

Key Financial Figures

• $600 billion — rogen is expected to be worth more than $600 billion by 2030 and over $1 trillion by 2050.1
• $1 — more than $600 billion by 2030 and over $1 trillion by 2050.1 Air Products only ne
• $1.6 billion — dividend increases, with approximately $1.6 billion of dividend payments in fiscal year 202

Filing Documents

• d859637ddefa14a.htm (DEFA14A) — 43KB
• g859637dsp006.jpg (GRAPHIC) — 210KB
• g859637dsp007.jpg (GRAPHIC) — 231KB
• g859637dsp017.jpg (GRAPHIC) — 438KB
• g859637dsp018.jpg (GRAPHIC) — 348KB
• g859637dsp019.jpg (GRAPHIC) — 368KB
• g859637dsp020.jpg (GRAPHIC) — 356KB
• g859637g1206023637206.jpg (GRAPHIC) — 3KB
• g859637g1206023637550.jpg (GRAPHIC) — 5KB
• g859637g1206023637867.jpg (GRAPHIC) — 5KB
• 0001193125-24-271978.txt ( ) — 2740KB

From the Filing

DEFA14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a party other than the Registrant CHECK THE APPROPRIATE BOX: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 Air Products and Chemicals, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) PAYMENT OF FILING FEE (CHECK ALL BOXES THAT APPLY): No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 AIR PRODUCTS Vote FOR Only Air Products Highly Qualified Director Nominees on the WHITE Proxy Card 1 December 5, 2024 Dear Fellow Air Products Shareholders: Enclosed is our definitive proxy statement filed with the Securities and Exchange Commission (SEC) in connection with the upcoming 2025 Annual Meeting of Shareholders (the Annual Meeting) of Air Products and Chemicals, Inc. (the Company or Air Products). The Annual Meeting is scheduled to be held on Thursday, January 23, 2025, at 8:30 a.m. (Eastern Time). On the afternoon of December 4, 2024, one day after the Company filed its definitive proxy statement with the SEC addressing the campaign launched by Mantle Ridge LP and affiliates (collectively, Mantle Ridge) at the beginning of October to take full control of our Board, Air Products received notice from Mantle Ridge that it was withdrawing its nomination for election of five of its original nine nominees. Air Products is sending you this letter, together with the original proxy statement, a supplement to the definitive proxy statement and a WHITE proxy card, to reflect this last-minute change by Mantle Ridge. In the interest of providing the definitive proxy statement to shareholders as soon as practicable, and given the changes that Mantle Ridge submitted, the Company is providing a summary of reasons we recommend support for all of Air Products director nominees Tonit M. Calaway, Charles Cogut, Lisa A. Davis, Seifollah Ghasemi, Jessica Trocchi Graziano, Edward L. Monser, Bhavesh V. Patel, Wayne T. Smith and Alfred Stern on the Companys WHITE proxy card. We look forward to sharing a more comprehensive detailing of why we believe Mantle Ridges short-term agenda to seize control of the Companys leadership and curtail or eliminate our growth strategy would be destructive to shareholder value.Dont jeopardize the value of your Air Products investment. Vote for the election of all of the companys nine nominees on the WHITE proxy card.We strongly recommend that you vote your shares FOR ONLY Air Products slate of director nominees Tonit M. Calaway, Charles Cogut, Lisa A. Davis, Seifollah Ghasemi, Jessica Trocchi Graziano, Edward L. Monser, Bhavesh V. Patel, Wayne T. Smith and Alfred Stern 2 Mantle Ridges last-minute maneuver to reduce the total number of candidates it is proposing does not change the following facts: Air Products is the most profitable industrial gas business in the world based on adjusted EBITDA margin. Our core industrial gas business is producing industry-leading adjusted EBITDA margins that just recently reached all-time highs and is driving adjusted EPS growth. This is thanks to Air Products more than 65 years of experience in end-to-end hydrogen supply, the leadership of our management team and the strategic investment decisions we have made to gain first-mover advantage. The advantages of being a first-mover in clean hydrogen are materializing. The total market revenue opportunity of clean hydrogen is expected to be worth more than $600 billion by 2030 and over $1 trillion by 2050.1 Air Products only needs to capture a small amount of the available market to generate significant value. Two of the clean hydrogen projects we currently have underway, the NEOM green hydrogen project and the Louisiana Clean Energy Complex, reflect a small portion of the demand we are seeing. Our experience and resources give us an edge in capturing this opportunity, and our strategy has already delivered a significant clean hydrogen off-take contract in our 15-year agreement to supply 70,000 tons of clean hydrogen to TotalEnergies beginning in 2030. Additionally, our relationships are progressing on other take-or-pay contracts that we expect will fully load NEOM in the near term. We are successfully de-risking clean hydrogen projects. We expect that across our clean hydrogen projects we will deliver returns at or above traditional industrial gas business levels. Negotiations also are underway for further significant off-take commitments. We will not make any final investment decisions on new projects until our

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View this DEFA14A filing on SEC EDGAR