LINDE PLC: insider trades · United States · SEC (Form 4)

About LINDE PLC

Linde plc (ticker: LIN) is a global benchmark in industrial gases and engineering solutions, listed on the U.S. Nasdaq market (historically on the NYSE) and incorporated in Ireland, with a principal operating base in the United Kingdom and major commercial exposure in the United States. For investors, Linde stands out as a high-quality, relatively defensive industrial compounder: it benefits from long-duration contracts, high switching costs, significant capital intensity, and demand tied to mission-critical end markets rather than discretionary consumption. The company serves a diversified set of industries, including chemicals and energy, food and beverage, electronics, healthcare, manufacturing, metals, and mining. Its portfolio spans oxygen, nitrogen, argon, hydrogen, helium, specialty gases, medical gases, gas processing technologies, on-site supply systems, and related engineering services. Linde’s heritage traces back to Carl von Linde, the German engineering pioneer whose name anchors the company’s long industrial history. The modern corporate structure, however, was created in 2018 through the merger of equals between Praxair and Linde AG, forming one of the world’s largest industrial gases companies. That combination materially strengthened the group’s global scale, asset base, and customer reach. Today, Linde is widely viewed as one of the industry leaders, supported by a dense production-and-distribution network and a strong reputation for reliability, operational discipline, and technically complex “build-own-operate” project execution. Its key offerings include bulk and packaged industrial gases, ultra-high-purity gases for semiconductor manufacturing, medical oxygen and related healthcare applications, and solutions for clean hydrogen and carbon capture. The company also develops customized gas processing and supply infrastructure for large industrial customers. Geographically, Linde operates across North America, Europe, Asia-Pacific, and selected emerging markets, with especially important exposure to the United States. This broad footprint helps diversify end-market demand while reinforcing local supply capabilities near major customers. Recent highlights show that Linde remains active in growth capex and strategic long-term contracts. In 2025 and early 2026, the company announced major U.S.-related initiatives, including a world-scale helium storage cavern in Texas, a long-term industrial-gases supply agreement for a low-carbon ammonia project in Louisiana, and investments supporting the commercial space and semiconductor ecosystems. Linde also reported 2025 sales of about $34 billion, underscoring its scale and its position as a global leader in industrial gases and engineering. Overall, the investment case is built on resilience, pricing discipline, infrastructure scarcity, and exposure to secular themes such as electrification, semiconductors, healthcare, hydrogen, and decarbonization.