APA Corp (APA) director gets 1,767 deferred stock units grant

Rhea-AI Filing Summary

McKay Lamar reported acquisition or exercise transactions in this Form 4 filing.

APA Corp director Lamar McKay received an equity-based compensation grant of 1,767 restricted stock units, which immediately vest and are automatically deferred into phantom stock units under APA’s Outside Directors’ Deferral Program. After this award and related dividend accruals, his deferred phantom stock unit balance is 53,058 units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider McKay Lamar

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,767	$0.00	--

Holdings After Transaction: Common Stock — 53,058 shares (Direct)

Footnotes (1)

1. Restricted stock units granted to each of APA's non-employee directors under the 2016 Omnibus Compensation Plan, which immediately vest and are automatically deferred under the deferred compensation provisions of APA's Outside Directors' Deferral Program (the "ODDP"). The reporting person has reported prior awards of restricted stock units and automatic deferrals in the form of phantom stock units in Table II of Form 4. The total reported in Column 5 includes 1,767 newly deferred phantom stock units, 50,849 phantom stock units previously reported in Table II, and 442 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Key Figures

RSUs granted: 1,767 units Total phantom units after grant: 53,058 units Previously reported phantom units: 50,849 units +2 more

5 metrics

RSUs granted 1,767 units Restricted stock units granted to non-employee director

Total phantom units after grant 53,058 units Phantom stock units credited after this transaction

Previously reported phantom units 50,849 units Phantom stock units from prior awards

Dividend-equivalent phantom units 442 units Units accrued from dividends on APA common stock

Director’s total following transaction (Table I) 53,058 shares/units Total reported in Column 5 for this security

Key Terms

restricted stock units, phantom stock units, Outside Directors' Deferral Program, 2016 Omnibus Compensation Plan

4 terms

restricted stock units financial

"Restricted stock units granted to each of APA's non-employee directors under the 2016 Omnibus Compensation Plan"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

phantom stock units financial

"automatic deferrals in the form of phantom stock units in Table II of Form 4"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Outside Directors' Deferral Program financial

"automatically deferred under the deferred compensation provisions of APA's Outside Directors' Deferral Program"

2016 Omnibus Compensation Plan financial

"granted to each of APA's non-employee directors under the 2016 Omnibus Compensation Plan"

Form 4 Insider Transactions: What Each Field Means →

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McKay Lamar

(Last) (First) (Middle)

2000 W SAM HOUSTON PARKWAY S

SUITE 200

(Street)

HOUSTON TEXAS 77042

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
APA Corp [ APA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	03/31/2026		A		1,767(1)	A	$0	53,058(2)	D

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

Explanation of Responses:

1. Restricted stock units granted to each of APA's non-employee directors under the 2016 Omnibus Compensation Plan, which immediately vest and are automatically deferred under the deferred compensation provisions of APA's Outside Directors' Deferral Program (the "ODDP").

2. The reporting person has reported prior awards of restricted stock units and automatic deferrals in the form of phantom stock units in Table II of Form 4. The total reported in Column 5 includes 1,767 newly deferred phantom stock units, 50,849 phantom stock units previously reported in Table II, and 442 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Lamar McKay	04/02/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did APA (APA) disclose for director Lamar McKay?

APA reported that director Lamar McKay acquired 1,767 restricted stock units as part of his director compensation. These units vested immediately and were deferred into phantom stock units under APA’s Outside Directors’ Deferral Program, increasing his deferred balance.

How many APA (APA) phantom stock units does Lamar McKay hold after this Form 4?

Following the grant, Lamar McKay holds 53,058 phantom stock units. This total includes 1,767 newly deferred units, 50,849 units from prior awards, and 442 units accrued as dividend equivalents on APA common stock under the deferral program.

Is the APA (APA) Form 4 transaction a market purchase or sale?

The Form 4 shows a grant/award acquisition, not a market trade. McKay received 1,767 restricted stock units at no purchase price as non-employee director compensation that immediately vested and were deferred into phantom stock units, so no open-market buy or sell occurred.

What plan governs Lamar McKay’s APA (APA) restricted stock unit award?

The award was granted under APA’s 2016 Omnibus Compensation Plan and is administered through the Outside Directors’ Deferral Program. Under these arrangements, the restricted stock units vest immediately and are automatically converted into deferred phantom stock units credited to McKay’s account.

How are APA (APA) dividend payments reflected in Lamar McKay’s phantom stock units?

The filing notes that 442 phantom stock units in McKay’s total are attributable to dividends paid on APA common stock. Instead of receiving cash, dividend equivalents are credited as additional phantom stock units under the Outside Directors’ Deferral Program.