Business Context and Reporting Period
This Form 8-K Current Report was filed by Air Products & Chemicals, Inc. on June 23, 2016. The filing addresses a temporary suspension of trading under the company's employee benefit plans and the associated blackout period for directors and executive officers.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is administrative in nature and does not contain financial performance data.
Material Changes
The primary material event is the conversion of the Air Products Company Stock Fund within the Retirement Savings Plan to a real-time traded stock fund. This change necessitates a temporary suspension of trading activities for plan participants and a trading blackout for company insiders.
Guidance, Outlook, and Risks
- Blackout Period: Plan participants and beneficiaries will be unable to make investment changes, obtain loans, or receive distributions involving the Air Products Company Stock Fund from the close of markets on July 18, 2016, through approximately July 21, 2016.
- Insider Trading Restrictions: Pursuant to Section 306 of the Sarbanes-Oxley Act and Regulation BTR, directors and executive officers are prohibited from purchasing or selling shares of the Company's common stock (including derivatives) during the Blackout Period.
- Information Access: Security holders may obtain details regarding the blackout period by contacting the Corporate Secretary for a period of two years following the blackout's conclusion.
Investor Verification Checklist
- Confirm the exact start and end dates of the trading blackout period (expected July 18–21, 2016).
- Verify the specific restrictions on the Air Products Company Stock Fund for retirement plan participants.
- Review the attached Exhibit 99.1 for the formal notice sent to directors and executive officers.