APA director granted 1,535 deferred stock units

Ragauss Peter A reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Ragauss Peter A reported acquisition or exercise transactions in this Form 4 filing.

APA Corp director Peter A. Ragauss received an equity-based award of 1,535 restricted stock units. These units were granted under APA’s 2016 Omnibus Compensation Plan to non-employee directors, immediately vest, and are automatically deferred into phantom stock units under the Outside Directors' Deferral Program. Following this grant and related dividend accruals, his deferred phantom stock balance reported is 101,859 units.

Insider Trade Summary

Grant/Award: 1,535 shares

Grant/Award 1 txn

Insider Ragauss Peter A

Role Director

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

Holdings After Transaction: Common Stock — 101,859 shares (Direct)

Footnotes (2)

1. F1. 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. F2. The total reported in Column 5 includes 1,535 newly deferred phantom stock units, 99,682 phantom stock units previously reported, and 642 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Key Figures

RSUs granted: 1,535 units Grant price: $0.0000 per share Total phantom units after grant: 101,859 units +3 more

6 metrics

RSUs granted 1,535 units Restricted stock units granted to non-employee director

Grant price $0.0000 per share Director compensation grant, not a market purchase

Total phantom units after grant 101,859 units Deferred phantom stock units balance after transaction

Previously reported phantom units 99,682 units Phantom stock units before new grant and dividend accruals

Dividend-accrued phantom units 642 units Units accrued under ODDP from APA common stock dividends

Newly deferred phantom units 1,535 units RSU grant immediately deferred under ODDP

Key Terms

Restricted stock units, phantom stock units, 2016 Omnibus Compensation Plan, Outside Directors' Deferral Program, +1 more

5 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, 99,682 phantom stock units previously reported, and 642 phantom stock units accrued"

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.

2016 Omnibus Compensation Plan financial

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

Outside Directors' Deferral Program financial

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

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did APA (APA) director Peter A. Ragauss report in this Form 4?

Peter A. Ragauss reported receiving an award of 1,535 restricted stock units. These immediately vested units were converted into deferred phantom stock units under APA’s Outside Directors' Deferral Program as part of his non-employee director compensation.

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

The Form 4 shows a grant, not a market trade. The 1,535 units were granted as director compensation at no cash cost, then deferred as phantom stock units, rather than being bought or sold on the open market.

How many phantom stock units does Peter A. Ragauss hold after this APA (APA) grant?

After the reported grant, he holds 101,859 phantom stock units. This total includes 1,535 newly deferred units, 99,682 units previously reported, and 642 additional units accrued from dividends on APA common stock.

What plan governs the new APA (APA) restricted stock unit grant to Peter A. Ragauss?

The 1,535 restricted stock units were granted under APA’s 2016 Omnibus Compensation Plan. As a non-employee director, these awards are immediately vested and automatically deferred into phantom stock units under the Outside Directors' Deferral Program.

What does the APA (APA) Outside Directors' Deferral Program do?

The Outside Directors' Deferral Program converts vested director equity awards into phantom stock units. These phantom units track APA common stock and can accrue additional units from dividends, allowing directors like Peter A. Ragauss to defer receipt of compensation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 07/01/2026 - 04:29 PM EDT 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^*

Ragauss Peter A

(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	101,859(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, 99,682 phantom stock units previously reported, and 642 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Peter A. Ragauss	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)