UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 3, 2023, Jeffrey J. Kutz, Vice President, Corporate Controller and Principal Accounting Officer of Air Products and Chemicals, Inc. (the “Company”) informed the Company of his decision to retire effective December 18, 2023. William J. Pellicciotti will join the Company as Controller and Chief Accounting Officer on October 25, 2023 and will succeed Mr. Kutz as the Company’s principal accounting officer effective upon Mr. Kutz’s retirement.
Mr. Pellicciotti, age 44, has served as Senior Vice President, Controller and Chief Accounting Officer of Advance Auto Parts, Inc. since January 2022. Mr. Pellicciotti previously served as Vice President, Controller – North America for The Kraft Heinz Company from October 2020 and in a variety of roles with increasing responsibility at Colgate-Palmolive Company, including as Finance Director – SEC Reporting, Accounting Policy and SOX Compliance from 2019 to 2020, Division Finance Director – Asia Pacific Division, based in Hong Kong, from 2018 to 2019, Center Lead and Finance Director for Colgate Business Services, based in Poland, from 2013 to 2017, and Associate Director – Corporate Audit, from 2009 to 2013. Mr. Pellicciotti began his career as an accountant at CliftonLarsonAllen, LLP, a professional services firm, and subsequently served as a manager at PricewaterhouseCoopers LLP. Mr. Pellicciotti holds a B.A. in Accounting and is a certified public accountant.
Mr. Pellicciotti will receive salary, bonus and equity awards at levels consistent with his seniority and position. Mr. Pellicciotti also will receive a new hire bonus of $200,000, a new hire restricted stock unit award with a grant date value of $250,000 that will vest after two years and a new hire restricted stock unit award with a grant date value of $325,000 that will vest after three years. Mr. Pellicciotti also will receive a $250,000 retention bonus to be paid in the first pay cycle following his first anniversary of employment, contingent upon his continued service. Mr. Pellicciotti also will receive health, welfare and retirement benefits that are generally available to salaried employees.
Neither Mr. Pellicciotti nor any of his immediate family members is a party, either directly or indirectly, to any transaction that would be required to be reported under Item 404(a) of Regulation S-K, nor is Mr. Pellicciotti a party to any arrangement or understanding under which he was selected to serve as an officer.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Air Products and Chemicals, Inc. | ||||||
| (Registrant) | ||||||
| Dated: October 10, 2023 | By: | /s/ Sean D. Major | ||||
| Sean D. Major | ||||||
| Executive Vice President, General Counsel and Secretary | ||||||