Linde plc director Hugh Grant reported a change in beneficial ownership of Linde ordinary shares on July 1, 2026, in a Form 4 filed July 2, 2026. The reported securities relate to Linde plc Ordinary Shares and equity-based director compensation, including deferred stock units and restricted stock units. The filing’s explanatory notes indicate that certain units convert into Linde plc Ordinary Shares on a one-for-one basis. Deferred stock units were acquired under the Linde Non-Employee Director Deferral Plan, and those units are payable in Linde ordinary shares, also on a one-for-one basis, in accordance with the plan. The filing also describes an RSU award originally granted on March 9, 2026. That award is scheduled to vest in full one year after the grant date, provided Grant continues to serve on Linde’s board through the vesting date. The plan allows for a pro-rata payout under certain circumstances. Although the RSU award may vest, its payout has been deferred and will be made in Linde ordinary shares upon Grant’s termination of service from the board. Another note states that the filing includes restricted stock units that have already vested in full but whose payout has been deferred under Linde’s non-employee director deferral arrangements. The filing does not provide, in the text supplied, the specific share or unit counts, transaction codes, prices, or Grant’s post-transaction ownership totals. As a result, the reported action appears to be a director equity-compensation and deferral update rather than an open-market purchase or sale. The Form 4 was signed by Anthony M. Pepper as attorney-in-fact for the reporting person on July 2, 2026. The key takeaway is that Grant’s reported ownership change reflects Linde’s director compensation structure, under which deferred stock units and restricted stock units ultimately settle into ordinary shares on a one-for-one basis, aligning board compensation with shareholder value while delaying share delivery until the applicable plan conditions are met.