Air Products and Chemicals (APD) insider buying and selling
Every Table I transaction reported by directors and officers of S&P 500 companies on SEC Form 4 filings (2 business days to file): each row labeled with its official transaction code, nothing filtered out beforehand.
Open-market purchases (code P) are the rare signal, in green; sales (code S) are common and often pre-scheduled (10b5-1). Table II (derivatives) is not included: its prices are exercise prices, not market values. Guide: insider buying.
| Date | Ticker | Insider | Role | Shares | Price | Amount | % of stake | Type / filing |
|---|
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Air Products and Chemicals, Inc. (APD) insider buying and selling: 1 purchase, 3 sales
26 Form 4 Table I transactions filed with the SEC by Air Products and Chemicals, Inc. insiders between 2025-10-29 and 2026-09-11 (15-month history): 1 open-market purchase and 3 sales, plus 22 transactions under other Form 4 codes, broken down one by one below. The largest open-market trade is a sale of $19.9M by Mantle Ridge Lp, Eagle Advisor Llc, Hilal Paul C on 2026-02-12.
Air Products and Chemicals insider buying and selling over the last 12 months
Between Oct 21, 2025 and Oct 20, 2026, Air Products and Chemicals insiders filed 2 sales worth $20.8M on the open market, and no purchases.
The biggest seller was Mantle Ridge Lp, Eagle Advisor Llc, Hilal Paul C (Director): $19.9M in 1 sale, out of 2 different sellers.
The largest trade of the period was a sale of $19.9M on Feb 12, 2026, by Mantle Ridge Lp, Eagle Advisor Llc, Hilal Paul C (Director). Form 4 on sec.gov (0001104659-26-014718).
None of the 2 sales carries the 10b5-1 plan flag on the Form 4 (sales scheduled months ahead).
The last three months show 0 sales, against 1 in the three before. The latest sale from May 1, 2026.
Against its sector (Basic Materials, 19 companies with an insider page on this site), over the same dates the median is 5 sales and 0 purchases on the open market. Air Products and Chemicals has more sales than 4 of the other 18, ranks 6 of 19 by net dollars sold, and 7 of the 19 have at least one purchase.
The 20 most important trades
The only open-market purchase first, then the rest, each type from largest to smallest. The full history is in the tool above, already searched.
See all 26 APD trades in the full history →
| Trade date | Filed | Insider | Role | Amount | Code | Filing |
|---|---|---|---|---|---|---|
| 2025-04-02 | 2025-11-21 | Evans Andrew W | Director | $1k | P — Open-market purchaseForm 4 footnoteF1 The transactions reported were executed in a discretionary account managed by an independent investment manager without the reporting person's knowledge. The reporting of these transactions was untimely because the reporting person did not become aware of the transactions until a later date. | SEC |
| 2026-02-12 | 2026-02-13 | Mantle Ridge Lp, Eagle Advisor Llc, Hilal Paul C | Director | $19.9M | S — Open-market sale Indirect holding, through: See footnotes 5 Form 4 footnotesF1 In addition to Mantle Ridge LP, a Delaware limited partnership ("Mantle Ridge"), this Form 4 is being filed jointly by Eagle Advisor LLC, a Delaware limited liability company ("Eagle Advisor"), and Paul C. Hilal, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as Mantle Ridge and may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities"). F2 Eagle Advisor, a wholly owned subsidiary of Mantle Ridge, advises Eagle Fund A1 Ltd, Eagle Fund A2 Ltd, Eagle Fund B1 Ltd and Eagle Fund B1 Ltd, each a Cayman Islands exempted company (all such funds and certain related limited partnerships, the "Eagle Funds"). F3 Eagle Advisor, as the investment adviser to the Eagle Funds, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). By virtue of Paul C. Hilal's position as ultimately controlling Eagle Advisor and Mantle Ridge, Paul C. Hilal may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein. F4 Paul C. Hilal is a member of the board of directors of the Issuer, and as a result, each of the other Reporting Persons may be directors by deputization for purposes of Section 16 of the Exchange Act. F7 By virtue of Paul. C. Hilal's position as ultimately controlling various entities that hold the Subject Securities, Paul. C. Hilal may be deemed to be the beneficial owner of these shares for purposes of Rule 16a-1(a) under the Exchange Act. Paul. C. Hilal disclaims beneficial ownership of any of these Subject Securities, except to the extent of any pecuniary interest therein. | SEC |
| 2026-05-01 | 2026-05-04 | Schaeffer Melissa N. | Exec Vice President and CFO | $824k | S — Open-market saleForm 4 footnoteF1 Actual sale price ranged from $303.19 - $304.32 | SEC |
| 2025-04-03 | 2025-11-21 | Evans Andrew W | Director | $1k | S — Open-market saleForm 4 footnoteF1 The transactions reported were executed in a discretionary account managed by an independent investment manager without the reporting person's knowledge. The reporting of these transactions was untimely because the reporting person did not become aware of the transactions until a later date. | SEC |
| 2025-12-02 | 2025-12-03 | Schaeffer Melissa N. | Exec Vice President and CFO | $552k | F — Tax withholding (shares surrendered for taxes) | SEC |
| 2025-12-02 | 2025-12-03 | Maione Francesco | President, Americas | $173k | F — Tax withholding (shares surrendered for taxes) | SEC |
| 2026-08-18 | 2026-09-11 | Lepore Matthew | EVP & General Counsel | $127k | F — Tax withholding (shares surrendered for taxes) | SEC |
| 2025-10-28 | 2025-10-29 | Pellicciotti William J Jr | Principal Accounting Officer | $78k | F — Tax withholding (shares surrendered for taxes) | SEC |
| 2025-12-03 | 2025-12-03 | Lefevere Kurt | President, Asia | $38k | F — Tax withholding (shares surrendered for taxes) | SEC |
| 2026-02-12 | 2026-02-13 | Mantle Ridge Lp, Eagle Advisor Llc, Hilal Paul C | Director | J — Other transaction (explained in the filing) Indirect holding, through: See footnotes 6 Form 4 footnotesF5 The Reporting Persons caused the Eagle Funds to distribute these Subject Securities to direct and indirect owners of the Eagle Funds on a pro rata basis. No consideration was paid in connection with these distributions. These transactions principally relate to the distribution of shares and cash to and among the limited partners of the Eagle Funds and members of the Eagle Funds' general partner. F1 In addition to Mantle Ridge LP, a Delaware limited partnership ("Mantle Ridge"), this Form 4 is being filed jointly by Eagle Advisor LLC, a Delaware limited liability company ("Eagle Advisor"), and Paul C. Hilal, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as Mantle Ridge and may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities"). F2 Eagle Advisor, a wholly owned subsidiary of Mantle Ridge, advises Eagle Fund A1 Ltd, Eagle Fund A2 Ltd, Eagle Fund B1 Ltd and Eagle Fund B1 Ltd, each a Cayman Islands exempted company (all such funds and certain related limited partnerships, the "Eagle Funds"). F3 Eagle Advisor, as the investment adviser to the Eagle Funds, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). By virtue of Paul C. Hilal's position as ultimately controlling Eagle Advisor and Mantle Ridge, Paul C. Hilal may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein. F4 Paul C. Hilal is a member of the board of directors of the Issuer, and as a result, each of the other Reporting Persons may be directors by deputization for purposes of Section 16 of the Exchange Act. F7 By virtue of Paul. C. Hilal's position as ultimately controlling various entities that hold the Subject Securities, Paul. C. Hilal may be deemed to be the beneficial owner of these shares for purposes of Rule 16a-1(a) under the Exchange Act. Paul. C. Hilal disclaims beneficial ownership of any of these Subject Securities, except to the extent of any pecuniary interest therein. | SEC | |
| 2026-02-12 | 2026-02-13 | Mantle Ridge Lp, Eagle Advisor Llc, Hilal Paul C | Director | G — Gift Indirect holding, through: See footnotes 7 Form 4 footnotesF8 Reflects shares contributed by Paul C. Hilal to certain charitable organizations. F6 The Reporting Persons have no plans to sell any shares of the Issuer currently or in the foreseeable future. Paul C. Hilal intends to maintain these holdings and continue serving as a director of the board of directors of the Issuer. F1 In addition to Mantle Ridge LP, a Delaware limited partnership ("Mantle Ridge"), this Form 4 is being filed jointly by Eagle Advisor LLC, a Delaware limited liability company ("Eagle Advisor"), and Paul C. Hilal, a citizen of the United States of America (collectively, the "Reporting Persons"), each of whom has the same business address as Mantle Ridge and may be deemed to have a pecuniary interest in securities reported on this Form 4 (the "Subject Securities"). F2 Eagle Advisor, a wholly owned subsidiary of Mantle Ridge, advises Eagle Fund A1 Ltd, Eagle Fund A2 Ltd, Eagle Fund B1 Ltd and Eagle Fund B1 Ltd, each a Cayman Islands exempted company (all such funds and certain related limited partnerships, the "Eagle Funds"). F3 Eagle Advisor, as the investment adviser to the Eagle Funds, may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). By virtue of Paul C. Hilal's position as ultimately controlling Eagle Advisor and Mantle Ridge, Paul C. Hilal may be deemed to be the beneficial owner of the Subject Securities for purposes of Rule 16a-1(a). Each of the Reporting Persons disclaims any beneficial ownership of any of the Subject Securities, except to the extent of any pecuniary interest therein. F4 Paul C. Hilal is a member of the board of directors of the Issuer, and as a result, each of the other Reporting Persons may be directors by deputization for purposes of Section 16 of the Exchange Act. F7 By virtue of Paul. C. Hilal's position as ultimately controlling various entities that hold the Subject Securities, Paul. C. Hilal may be deemed to be the beneficial owner of these shares for purposes of Rule 16a-1(a) under the Exchange Act. Paul. C. Hilal disclaims beneficial ownership of any of these Subject Securities, except to the extent of any pecuniary interest therein. | SEC | |
| 2025-12-03 | 2025-12-03 | Schaeffer Melissa N. | Exec Vice President and CFO | J — Other transaction (explained in the filing) Indirect holding, through: By RSP Form 4 footnoteF1 Not applicable to this security | SEC | |
| 2025-12-03 | 2025-12-03 | Maione Francesco | President, Americas | J — Other transaction (explained in the filing) Indirect holding, through: By RSP Form 4 footnoteF1 Not applicable to this security | SEC | |
| 2025-12-03 | 2025-12-03 | Lefevere Kurt | President, Asia | A — Grant or awardForm 4 footnoteF1 Not applicable to this security | SEC | |
| 2025-12-03 | 2025-12-03 | Pellicciotti William J Jr | Principal Accounting Officer | J — Other transaction (explained in the filing) Indirect holding, through: By RSP Form 4 footnoteF1 Not applicable to this security | SEC | |
| 2025-12-03 | 2025-12-03 | Menezes Eduardo F | Chief Executive Officer | J — Other transaction (explained in the filing) Indirect holding, through: By RSP Form 4 footnoteF1 Not applicable to this security | SEC | |
| 2025-12-02 | 2025-12-03 | Schaeffer Melissa N. | Exec Vice President and CFO | A — Grant or awardForm 4 footnoteF1 Not applicable to this security | SEC | |
| 2025-12-02 | 2025-12-03 | Bols Ivo | President, Europe & Africa | A — Grant or awardForm 4 footnoteF1 Not applicable to this security | SEC | |
| 2025-12-02 | 2025-12-03 | Maione Francesco | President, Americas | A — Grant or awardForm 4 footnoteF1 Not applicable to this security | SEC | |
| 2025-12-01 | 2025-12-03 | Schaeffer Melissa N. | Exec Vice President and CFO | A — Grant or awardForm 4 footnoteF1 Not applicable to this security | SEC |
The period balance: money in, money out
Across the Form 4 filings submitted between Oct 29, 2025 and Sep 11, 2026, Air Products and Chemicals, Inc. open-market activity adds up to 1 purchase worth $1k and 3 sales worth $20.8M. The net balance is $20.8M on the sell side.
Only codes P and S count, where an insider puts in or takes out their own money. A selling balance like Air Products and Chemicals, Inc.'s is the norm in the S&P 500, where much of the pay comes as stock. It is not a recommendation to buy or sell: it is what was filed.
Every transaction, code by code
| Code | What it means | Trades | Reported amount |
|---|---|---|---|
| A | Grant or award | 11 | $0 |
| F | Tax withholding (shares surrendered for taxes) | 5 | $967k |
| J | Other transaction (explained in the filing) | 5 | $0 |
| S | Open-market sale | 3 | $20.8M |
| G | Gift | 1 | $0 |
| P | Open-market purchase | 1 | $1k |
| Total | Everything filed in the period | 26 | $21.7M |
17 of the 26 rows carry no usable amount on the Form 4: they count as trades and add $0. The code labels come from the SEC index.
Who has traded
Over the 15 months of history, 9 distinct people or entities have filed Air Products and Chemicals, Inc. transactions: 1 bought on the open market and 3 sold. Counted by CIK, the fixed number the SEC gives each filer, and not by name, which each filer types their own way.
| Filer | Role | Transactions | Bought (count) | Sold (count) | Last filed |
|---|---|---|---|---|---|
| Mantle Ridge Lp, Eagle Advisor Llc, Hilal Paul C | Director | 3 | — | $19.9M (1) | 2026-02-13 |
| Schaeffer Melissa N. | Exec Vice President and CFO | 5 | — | $824k (1) | 2026-05-04 |
| Evans Andrew W | Director | 2 | $1k (1) | $1k (1) | 2025-11-21 |
| Maione Francesco | President, Americas | 4 | — | — | 2025-12-03 |
| Lefevere Kurt | President, Asia | 3 | — | — | 2025-12-03 |
| Pellicciotti William J Jr | Principal Accounting Officer | 3 | — | — | 2025-12-03 |
| Bols Ivo | President, Europe & Africa | 2 | — | — | 2025-12-03 |
| Lepore Matthew | EVP & General Counsel | 2 | — | — | 2026-09-11 |
Shown here are the 8 who moved the most money, out of 9. The rest are in the full history, one link above. The name links to all their trades, in any company. "Transactions" counts any code; the money, open market only. Role: from their latest filing.
Month by month
By the month the trade was executed, not the month it was filed; months with no trades show zero. The busiest month was Feb 2026: 0 purchases and 1 sale, worth $19.9M. 13 of the 15 months have none. 2 trades were executed before the window opens and filed late: they are in the history and in the tables above, but fall outside this calendar.
| Month | Purchases | Amount | Sales | Amount |
|---|---|---|---|---|
| Aug 2025 | 0 | $0 | 0 | $0 |
| Sep 2025 | 0 | $0 | 0 | $0 |
| Oct 2025 | 0 | $0 | 0 | $0 |
| Nov 2025 | 0 | $0 | 0 | $0 |
| Dec 2025 | 0 | $0 | 0 | $0 |
| Jan 2026 | 0 | $0 | 0 | $0 |
| Feb 2026 | 0 | $0 | 1 | $19.9M |
| Mar 2026 | 0 | $0 | 0 | $0 |
| Apr 2026 | 0 | $0 | 0 | $0 |
| May 2026 | 0 | $0 | 1 | $824k |
| Jun 2026 | 0 | $0 | 0 | $0 |
| Jul 2026 | 0 | $0 | 0 | $0 |
| Aug 2026 | 0 | $0 | 0 | $0 |
| Sep 2026 | 0 | $0 | 0 | $0 |
| Oct 2026 | 0 | $0 | 0 | $0 |
The last month may be partial: a Form 4 is filed up to two business days later. The table does not say whether the pattern is good or bad; it says when it happened.
Air Products and Chemicals, Inc. (APD) analysis page →
Other Basic Materials companies with insider trades
All 500 are listed in the section index →
Which insiders are buying their own company stock →
How to read this data
None of the 3 sales in the table is flagged as scheduled (10b5-1 plan), the kind signed months ahead and executed automatically. Air Products and Chemicals's single open-market purchase (code P) is the rare signal: insiders are already paid in stock, so buying more means putting in their own money. The latest filing is from Sep 11, 2026, and a Form 4 arrives up to two business days after the trade.
15 of the 20 rows in the table carry footnotes from the Form 4 itself, folded into the code column and copied verbatim; a row with no footnote means the filing has none. Code J on its own only says "other transaction": which one it is, if the filing explains it, is in its footnote.
Guide: Insider buying · all guides
What is behind these trades
The concepts on this page, explained from scratch in the Academy. Free, no account.
- What the efficiency hypothesis says and what it does NOT sayIf an insider's purchase is public and anyone can read it, is there any information left in it? That is the exact question that brings people here.
- Who really moves the market: the types of investorWho sits on the other side of each order, and where a company's own insiders fit among them.
- Supply, demand and price: why it rises and falls constantlyHow a piece of news ends up inside the price, and why the reaction to a filed sale is rarely the one you would expect.
Source: SEC EDGAR Form 4. This is a list of public facts, not financial advice or a recommendation to buy or sell.