SEC FORM 5

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^*

SNEED PAULA A

(Last)

(First)

(Middle)

C/O AIRGAS, INC.

259 N. RADNOR-CHESTER ROAD, 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	10% Owner
	Officer (give title below)	Other (specify below)

3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
03/31/2009

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 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)
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)	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)	4. Transaction Code (Instr. 8)	(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)
Phantom Stock⁽¹⁾	⁽²⁾	09/26/2006		A	189.82		⁽³⁾	⁽³⁾	Common Stock	189.82	$36.3	189.82	D
Phantom Stock⁽¹⁾	⁽²⁾	09/29/2006		A	0.13		⁽³⁾	⁽³⁾	Common Stock	0.13	$36.17	189.95	D
Phantom Stock⁽¹⁾	⁽²⁾	12/21/2006		A	168.15		⁽³⁾	⁽³⁾	Common Stock	168.15	$40.98	358.1	D
Phantom Stock⁽¹⁾	⁽²⁾	12/29/2006		A	0.59		⁽³⁾	⁽³⁾	Common Stock	0.59	$40.52	358.69	D
Phantom Stock⁽¹⁾	⁽²⁾	03/23/2007		A	188.73		⁽³⁾	⁽³⁾	Common Stock	188.73	$42.72	547.42	D
Phantom Stock⁽¹⁾	⁽²⁾	03/30/2007		A	0.74		⁽³⁾	⁽³⁾	Common Stock	0.74	$42.15	548.16	D
Phantom Stock⁽¹⁾	⁽²⁾	06/29/2007		A	1.06		⁽³⁾	⁽³⁾	Common Stock	1.06	$47.9	549.22	D
Phantom Stock⁽¹⁾	⁽²⁾	07/11/2007		A	238.63		⁽³⁾	⁽³⁾	Common Stock	238.63	$47.93	787.85	D
Phantom Stock⁽¹⁾	⁽²⁾	09/21/2007		A	211.41		⁽³⁾	⁽³⁾	Common Stock	211.41	$50.85	999.26	D
Phantom Stock⁽¹⁾	⁽²⁾	09/28/2007		A	1.55		⁽³⁾	⁽³⁾	Common Stock	1.55	$51.63	1,000.81	D
Phantom Stock⁽¹⁾	⁽²⁾	12/31/2007		A	1.65		⁽³⁾	⁽³⁾	Common Stock	1.65	$52.11	1,212.38	D
Phantom Stock⁽¹⁾	⁽²⁾	03/31/2008		A	2.79		⁽³⁾	⁽³⁾	Common Stock	2.79	$45.47	1,215.17	D
Phantom Stock⁽¹⁾	⁽²⁾	04/09/2008		A	228.43		⁽³⁾	⁽³⁾	Common Stock	228.43	$47.06	1,443.6	D
Phantom Stock⁽¹⁾	⁽²⁾	06/30/2008		A	2.33		⁽³⁾	⁽³⁾	Common Stock	2.33	$58.39	1,445.93	D
Phantom Stock⁽¹⁾	⁽²⁾	07/07/2008		A	211.17		⁽³⁾	⁽³⁾	Common Stock	211.17	$58.01	1,657.1	D
Phantom Stock⁽¹⁾	⁽²⁾	09/30/2008		A	4.53		⁽³⁾	⁽³⁾	Common Stock	4.53	$49.65	1,661.63	D
Phantom Stock⁽¹⁾	⁽²⁾	10/27/2008		A	294.59		⁽³⁾	⁽³⁾	Common Stock	294.59	$31.4	1,956.22	D
Phantom Stock⁽¹⁾	⁽²⁾	12/31/2008		A	7.94		⁽³⁾	⁽³⁾	Common Stock	7.94	$38.99	1,964.16	D
Phantom Stock⁽¹⁾	⁽²⁾	01/22/2009		A	322.45		⁽³⁾	⁽³⁾	Common Stock	322.45	$37.99	2,286.61	D
Phantom Stock⁽¹⁾	⁽²⁾	03/31/2009		A	10.7		⁽³⁾	⁽³⁾	Common Stock	10.7	$33.81	2,297.31	D

Explanation of Responses:

1. Acquired pursuant to Airgas, Inc.'s deferred compensation plan as a result of either (1) the deferral of director's compensation or (2) the reinvestment under the plan of dividends declared and paid with respect to shares of Airgas, Inc.'s common stock underlying the phantom stock.

2. Each share of phantom stock represents the right to receive the cash value of one share of Airgas, Inc. common stock.

3. Shares of phantom stock are payable in cash following the reporting person's termination of service as a director with Airgas, Inc. The reporting person may transfer her phantom stock account into an alternative investment account under the plan at any time.

Remarks:

	Robert H. Young, Jr., Attorney-In-Fact for Paula A. Sneed	05/15/2009
	** 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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