SEC Form 5
FORM 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL 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).
  
 Form 3 Holdings Reported.
  
 Form 4 Transactions Reported.
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 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)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
Chairman of the Board and CEO
3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
03/31/2006
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 at end of Issuer's Fiscal Year (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Amount (A) or (D) Price
Common Stock 06/17/2004 G 15,009 D (1) 7,239,457(2) D
Common Stock 09/20/2005 G 12,723 D (1) 7,239,457(2)(3) D
Common Stock 12/08/2005 G 42,856 D (1) 7,196,601(2) D
Common Stock 01/11/2006 G 8,966 D (1) 7,147,635(2)(4) D
Common Stock 41,500(5) I Immediate Family
Common Stock 42,314(6) 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)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
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 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
1. Name and Address of Reporting Person*
MCCAUSLAND BONNIE F
(Last) (First) (Middle)
C/O AIRGAS, INC.
259 N. RADNOR-CHESTER RD.
(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)
Explanation of Responses:
1. Not applicable.
2. Includes 15,700 shares owned directly by Peter McCausland and indirectly by Bonnie F. McCausland.
3. The 12,723 shares of Airgas, Inc. common stock that are the subject of this gift by the Peter McCausland have been reflected as disposed of by the reporting person under column 5 of the reporting person's Form 4 filed on September 22, 2005.
4. Does not include 40,000 shares of Airgas, Inc. common stock transferred by Peter McCausland to his spouse, Bonnie McCausland, on December 15, 2005.
5. Includes 41,500 shares owned directly by Bonnie F. McCausland and indirectly by Peter McCausland.
6. The information presented is as of March 31, 2006, the date of the latest available statement of the reporting person's holdings of Airgas, Inc. common stock in his 401(k) plan. Since September 13, 2005, the date relied upon for the amount reported on Peter McCausland's Form 4 dated September 22, 2005, a total of 495 shares have been acquired in transactions exempt from Section 16(b) by Rule 19b-3(c).
Remarks:
Dean A. Bertolino, Attorney-in-Fact for Peter McCausland 05/11/2006
Dean A. Bertolino, Attorney-in-Fact for Bonnie F. McCausland 05/11/2006
** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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