APA Corp (APA) EVP granted phantom stock units under retirement plan

Rhea-AI Filing Summary

APA Corp Executive VP - Administration Mark D. Maddox reported receiving a grant of phantom stock units under a non-qualified retirement plan. He acquired 35.864 phantom stock units, each economically equivalent to one share of APA common stock, bringing his indirect holdings in this plan to 6,296.074 units.

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

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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^*

Maddox Mark D

(Last) (First) (Middle)

2000 W SAM HOUSTON PARKWAY S

SUITE 200

(Street)

HOUSTON TX 77042

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP - Administration

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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

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

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

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

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
Phantom Stock Units	(1)	02/27/2026		A		35.864		(1)	(1)	Common Stock	35.864	$29.1	6,296.074	I	Non-Qualified Retirement Plan

Explanation of Responses:

1. Each phantom stock unit is the economic equivalent of one share of APA common stock and is payable at the participant's election either in APA common stock or cash, in accordance with and subject to the terms of the company's non-qualified retirement plan.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Mark D. Maddox	03/03/2026
	** 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.

FAQ

What insider transaction did APA (APA) report for Mark D. Maddox?

APA reported that Executive VP - Administration Mark D. Maddox acquired 35.864 phantom stock units. These units were granted under a non-qualified retirement plan and are economically equivalent to APA common stock, increasing his indirect plan holdings to 6,296.074 units.

What are phantom stock units in the APA (APA) Form 4 filing?

The phantom stock units are instruments economically equivalent to one share of APA common stock. According to the filing, they are payable, at the participant’s election, either in APA common stock or cash under the company’s non-qualified retirement plan terms.

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

The Form 4 describes the transaction as a grant or award acquisition of phantom stock units. It is coded as an “A” transaction, indicating a grant, award, or other acquisition rather than an open-market purchase or sale of APA common stock.

How many APA-related phantom stock units does Mark D. Maddox now hold?

Following this grant, Mark D. Maddox indirectly holds a total of 6,296.074 phantom stock units. These holdings are associated with APA’s non-qualified retirement plan and reflect the cumulative units credited to him under that plan structure.

How is ownership of the APA (APA) phantom stock units classified in this filing?

The filing classifies the phantom stock unit ownership as indirect, tied to a non-qualified retirement plan. This means the units are held through the plan arrangement rather than directly as traditional APA common stock in a standard brokerage or personal account.

At what reference price were the APA (APA) phantom stock units granted?

The phantom stock units were granted at a reference price of $29.10 per unit. This price is used for the economic value of each unit, which is designed to mirror the value of one share of APA common stock under the plan’s terms.