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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	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 BONNIE F (Last) (First) (Middle) C/O AIRGAS, INC. 259 N. RADNOR-CHESTER ROAD, SUITE 100 (Street) RADNOR PA 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 X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 05/10/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/10/2004		M		54,000	A	$11.32	54,000(1)	I	Trust FBO Children
Common Stock	05/10/2004		M		108,000	A	$14.71	162,000(1)	I	Trust FBO Children
Common Stock								9,481,026(2)	D
Common Stock								397,468(3)	I	Immediate Family
Common Stock								40,611(4)	I	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$11.32	05/10/2004		M			54,000	05/10/2004	05/12/2004	Common Stock	54,000	(5)	0	I	Trust FBO Children
Stock Option (Right to Buy)	$14.71	05/10/2004		M			108,000	05/10/2004	05/12/2004	Common Stock	108,000	(5)	0	I	Trust FBO Children

1. Name and Address of Reporting Person* MCCAUSLAND BONNIE F (Last) (First) (Middle) C/O AIRGAS, INC. 259 N. RADNOR-CHESTER ROAD, SUITE 100 (Street) RADNOR PA 19087 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* MCCAUSLAND PETER (Last) (First) (Middle) C/O AIRGAS, INC. 259 N. RADNOR-CHESTER ROAD, SUITE 100 (Street) RADNOR PA 19087 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer X Director X 10% Owner X Officer (give title below) Other (specify below) Chairman of the Board and CEO

Explanation of Responses:

1. Represents shares of Airgas, Inc. common stock beneficially owned by the reporting person as trustee of a trust for the benefit of the reporting person's children.

2. Includes 1,500 shares owned directly by Bonnie F. McCausland and indirectly by Peter McCausland and 1,500,000 shares subject to a pre-paid variable share forward contract.

3. Includes 15,700 shares owned directly by Peter McCausland and indirectly by Bonnie F. McCausland.

4. Represents shares of Airgas, Inc. common stock held in Peter McCausland's 401(k) plan and beneficially owned indirectly by Bonnie McCausland.

5. Not applicable.

Remarks:

	Todd R. Craun, Attorney-in-Fact for Bonnie F. McCausland	05/12/2004
	Todd R. Craun, Attorney-in-Fact for Peter McCausland	05/12/2004
	** 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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