APA Corp (APA) director granted 1,535 stock units and boosts holdings

Rhea-AI Filing Summary

Joung Chansoo reported acquisition or exercise transactions in this Form 4 filing.

APA Corp director Chansoo Joung received an equity grant of 1,535 restricted stock units under the company’s 2016 Omnibus Compensation Plan. These units immediately vest and are automatically deferred into phantom stock units under the Outside Directors' Deferral Program.

Following this grant and related deferrals, Joung now holds a total of 244,742 combined phantom stock units and common shares. This total includes 1,535 newly deferred phantom stock units, 102,264 previously reported phantom units, 658 phantom units from dividend equivalents, and 140,285 shares of common stock, all held as direct ownership.

Insights

Equity compensation analyst

Routine director equity grant using deferred phantom stock units.

APA Corp granted director Chansoo Joung 1,535 restricted stock units as part of non-employee director compensation. The units vest immediately and are converted into phantom stock units under the Outside Directors' Deferral Program instead of delivering current shares.

This is a non-cash, compensation-related acquisition rather than an open-market purchase. After the grant and deferral, Joung’s combined position rises to 244,742 phantom units and shares, indicating a sizeable ongoing equity stake. The event appears routine and does not by itself signal a change in company outlook.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Joung Chansoo

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,535	$0.00	--

Holdings After Transaction: Common Stock — 244,742 shares (Direct, null)

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 total reported in Column 5 includes 1,535 newly deferred phantom stock units, 102,264 phantom stock units previously reported, 658 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock, and 140,285 shares of common stock.

Key Figures

Restricted stock units granted: 1,535 units Total holdings after transaction: 244,742 units and shares Previously reported phantom stock units: 102,264 units +3 more

6 metrics

Restricted stock units granted 1,535 units Non-employee director grant under 2016 Omnibus Compensation Plan

Total holdings after transaction 244,742 units and shares Combined phantom stock units and common shares after grant

Previously reported phantom stock units 102,264 units Phantom stock units reported before current grant

Dividend-equivalent phantom units 658 units Accrued under ODDP from dividends on APA common stock

Common shares held 140,285 shares APA common stock held directly after the transaction

Grant price per unit $0.00 per unit Equity compensation, no cash paid by director

Key Terms

Restricted stock units, phantom stock units, deferred compensation, Outside Directors' Deferral Program

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

"includes 1,535 newly deferred phantom stock units, 102,264 phantom stock units previously reported"

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.

deferred compensation financial

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

Deferred compensation is pay that employees or executives have earned now but will receive at a later date, such as delayed bonuses, retirement benefits, or stock grants. It matters to investors because it creates future obligations and shapes incentives—like a promise to pay later that can affect a company’s reported profits, cash needs and potential stock dilution—so it helps signal how a business manages costs and retains key people.

Outside Directors' Deferral Program financial

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/01/2026 - 04:22 PM Accepted by SEC EDGAR 07/01/2026 - 04:22 PM Learn about SEC filing dates

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^*

Joung Chansoo

(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)
06/30/2026

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	06/30/2026		A		1,535(1)	A	$0	244,742(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 total reported in Column 5 includes 1,535 newly deferred phantom stock units, 102,264 phantom stock units previously reported, 658 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock, and 140,285 shares of common stock.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Chansoo Joung	07/01/2026
	** 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 did APA (APA) director Chansoo Joung receive in this Form 4?

APA director Chansoo Joung received 1,535 restricted stock units that immediately vest and are deferred as phantom stock units. This represents routine equity compensation granted under APA’s 2016 Omnibus Compensation Plan for non-employee directors.

How many APA (APA) shares and units does Chansoo Joung hold after this grant?

After this grant, Chansoo Joung holds 244,742 total phantom stock units and common shares. This includes 1,535 newly deferred phantom units, 102,264 previously reported phantom units, 658 dividend-equivalent phantom units, and 140,285 shares of APA common stock.

Was this APA (APA) insider transaction an open-market stock purchase or sale?

No open-market trade occurred. The Form 4 shows a grant of 1,535 restricted stock units coded as an acquisition (A), reflecting non-employee director compensation that vests immediately and is deferred into phantom stock units, rather than a market buy or sell.

What is APA (APA)'s Outside Directors' Deferral Program (ODDP)?

The Outside Directors’ Deferral Program allows APA’s non-employee directors to defer equity compensation as phantom stock units. In this case, restricted stock units vest immediately and are automatically deferred under the ODDP instead of being delivered as current shares of common stock.

How are dividends on APA (APA) stock reflected in Chansoo Joung's holdings?

Dividends on APA common stock generate additional phantom stock units under the deferral program. The Form 4 notes 658 phantom stock units accrued under the Outside Directors’ Deferral Program that are specifically attributable to dividends paid on APA common stock.