SEC FORM 4

SEC Form 4

FORM 4

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
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Thoman Thomas S

(Last)

(First)

(Middle)

C/O AIRGAS, INC.

259 N. RADNOR-CHESTER ROAD, SUITE 100

(Street)

RADNOR

19087

(City)

(State)

(Zip)

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)
	Division President - Gases

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2014

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	11/25/2014		M		11,300	A	$24.09	11,638⁽¹⁾	D
Common Stock	11/25/2014		M		5,000	A	$43.62	16,638⁽¹⁾	D
Common Stock	11/25/2014		M		6,500	A	$43.62	23,138⁽¹⁾	D
Common Stock	11/25/2014		S		22,800	D	$116.89⁽²⁾	338⁽¹⁾	D

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 (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	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 (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$24.09	11/25/2014		M			11,300	⁽³⁾	05/24/2015	Common Stock	11,300	⁽⁴⁾	0	D
Stock Option (Right to Buy)	$43.62	11/25/2014		M			5,000	⁽⁵⁾	05/08/2015	Common Stock	5,000	⁽⁴⁾	0	D
Stock Option (Right to Buy)	$43.62	11/25/2014		M			6,500	⁽⁶⁾	05/08/2015	Common Stock	6,500	⁽⁴⁾	0	D

Explanation of Responses:

1. Includes 338 shares of Airgas, Inc. common stock acquired pursuant to Airgas, Inc.'s Employee Stock Purchase Plan ("ESPP") as of 11/25/2014, the date of the latest available statement of the reporting person's ESPP holdings. Since 11/21/2014, the date of the statement relied upon for the amount reported on the reporting person's 11/24/2014 Form 4, a total of 0 ESPP shares have been acquired in transactions exempt from Section 16(b).

2. This price represents the average selling price (within a range of $116.73-$117.03) of the shares of common stock of Airgas, Inc. sold by the reporting person, as provided by the reporting person's broker.

3. These options became exercisable in 25% equal increments on each of 05/24/2006, 05/24/2007, 05/24/2008 and 05/24/2009.

4. Not Applicable.

5. These options became exercisable in 25% equal increments on each of 05/08/2008, 05/08/2009, 05/08/2010 and 05/08/2011.

6. These options became exercisable in 25% equal increments on each of 05/08/2008, 05/08/2009, 05/08/2010 and 05/08/2011.

Remarks:

	Robert H. Young, Jr., Attorney-In-Fact for Thomas S. Thoman	11/26/2014
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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