Sec Form 4 Filing - DOUGHERTY ROBERT A @ AIRGAS INC - 2012-02-23

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
DOUGHERTY ROBERT A
2. Issuer Name and Ticker or Trading Symbol
AIRGAS INC [ ARG]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
Sr. V.P. and CIO
(Last) (First) (Middle)
C/O AIRGAS, INC., 259 N. RADNOR-CHESTER ROAD, SUITE 100
3. Date of Earliest Transaction (MM/DD/YY)
02/23/2012
(Street)
RADNOR, PA19087
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 02/23/2012 M 7,300 A $ 19.22 12,553 ( 1 ) ( 2 ) D
Common Stock 02/23/2012 M 4,700 A $ 21.15 17,253 ( 1 ) ( 2 ) D
Common Stock 02/23/2012 S 12,000 D $ 81.5 ( 3 ) 5,253 ( 1 ) ( 2 ) D
Common Stock 377 ( 4 ) I By 401(k) Plan
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 19.22 02/23/2012 M 7,300 ( 5 ) 05/12/2013 Common Stock 7,300 ( 6 ) 0 D
Stock Option (Right to Buy) $ 21.15 02/23/2012 M 4,700 ( 7 ) 05/25/2014 Common Stock 4,700 ( 6 ) 10,900 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
DOUGHERTY ROBERT A
C/O AIRGAS, INC.
259 N. RADNOR-CHESTER ROAD, SUITE 100
RADNOR, PA19087
Sr. V.P. and CIO
Signatures
Robert H. Young, Jr., Attorney-In-Fact for Robert A. Dougherty 02/27/2012
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Includes 192 shares of Airgas, Inc. common stock acquired pursuant to Airgas, Inc.'s Employee Stock Purchase Plan ("ESPP") as of 2/23/2012, the date of the latest available statement of the reporting person's ESPP holdings. Since 12/9/2011, the date of the statement relied upon for the amount reported on the reporting person's 12/13/2011 Form 4, a total of 65 ESPP shares have been acquired in transactions exempt from Section 16(b).
( 2 )On 7/21/2011, the reporting person transferred 5,061 shares of Airgas, Inc. common stock from his ESPP account to a brokerage account owned by him.
( 3 )This price represents the average selling price (within a range of $81.50-$81.52) of the shares of common stock of Airgas, Inc. sold by the reporting person, as provided by the reporting person's broker.
( 4 )The information presented is as of 2/23/2012, the date of the latest available statment of the reporting person's holdings of Airgas, Inc. common stock in his 401(k) plan. Since 12/9/2011, the date of the statement relied upon for the amount reported on the reporting person's 12/13/2011 Form 4, a total of 49 shares have been acquired in transactions exempt from Section 16(b).
( 5 )These options became exercisable in 25% equal increments on each of 5/12/2004, 5/12/2005, 5/12/2006 and 5/12/2007.
( 6 )Not Applicable.
( 7 )These options became exercisable in 25% equal increments on each of 5/25/2005, 5/25/2006, 5/25/2007 and 5/25/2008.

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