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^*

MCCAUSLAND PETER

(Last)

(First)

(Middle)

C/O AIRGAS, INC.

259 N. RADNOR-CHESTER RD, STE. 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)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chariman, President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2008

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	06/15/2007		G	V	350,000⁽¹⁾	D	⁽²⁾	6,901,910⁽³⁾	D
Common Stock	08/07/2007		G	V	7,549	D	⁽²⁾	6,894,361⁽³⁾	D
Common Stock	12/11/2007		G	V	18,729	D	⁽²⁾	6,875,632⁽³⁾	D
Common Stock	01/31/2008		G	V	7,114	D	⁽²⁾	6,868,518⁽³⁾	D
Common Stock	03/10/2008		M		130,000	A	$15.94	6,998,518⁽³⁾	D
Common Stock								250,000⁽⁴⁾	I	By Trusts
Common Stock								41,500⁽⁵⁾	I	By immediate family
Common Stock								43,707⁽⁶⁾	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 (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)	$15.94	03/10/2008		M		130,000		⁽⁷⁾	05/14/2008	Common Stock	130,000	⁽²⁾	0	D

Explanation of Responses:

1. Includes 250,000 shares transferred on 6/15/2007 to two separate grantor retained annuity trusts of which Peter McCausland is a co-trustee and either he or his spouse is a beneficiary.

2. Not applicable.

3. Includes 15,700 shares owned directly by Peter McCausland and indirectly by his spouse.

4. Represents 250,000 shares held in two separate grantor retained annuity trusts of which Peter McCausland is a co-trustee and either he or his spouse is a beneficiary.

5. Represents 41,500 shares owned directly by his spouse and indirectly by Peter McCausland.

6. The information presented is as of 03/07/2008, the date of the latest available statement of the reporting person's holdings of Airgas, Inc. common stock in his 401(k) plan. Since May 3, 2007, the date of the statement relied upon for the amount reported on the reporting person's Form 4 dated May 7, 2007, a total of 510 shares of common stock have been acquired in the reporting person's 401(k) plan through transactions exempt under Section 16(b).

7. These options became exercisable in 25% equal increments on each of 5/14/1999, 5/14/2000, 5/14/2001 and 5/14/2002.

Remarks:

	Robert H. Young, Jr., Attorney-in-Fact for Peter McCausland	03/12/2008
	** 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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