APA Insider Filing: 2,059 Shares Added, Beneficial Ownership Now 97,155

Rhea-AI Filing Summary

APA Corp (APA) director Chansoo Joung received equity awards and holds significant shares following routine director compensation actions. The Form 4 reports transactions dated 09/30/2025 showing 2,059 phantom stock units converted one-for-one into common shares, and 2,059 restricted stock units granted and recorded. After these transactions the filing shows Chansoo Joung beneficially owns 97,155 shares of APA common stock. The restricted stock units were granted under APA’s 2016 Omnibus Compensation Plan and certain units vested on 09/30/2025. The filing reflects these events as exempt acquisitions pursuant to Rule 16b-3 related to the company’s outside directors’ deferral program.

Positive

• Director received equity awards totaling 2,059 shares via phantom stock conversion and 2,059 restricted stock units on 09/30/2025
• Beneficial ownership increased to 97,155 shares following the reported transactions
• Awards granted under shareholder-approved plan (2016 Omnibus Compensation Plan) and treated as exempt under Rule 16b-3

Negative

• None.

Insights

Securities Analyst

TL;DR Director received routine equity compensation: conversions and grants totaling 2,059 shares, increasing reported beneficial ownership to 97,155 shares.

This Form 4 documents non-derivative and derivative-unit activity for a non-employee director on 09/30/2025. The reported phantom stock units were converted one-for-one into common shares and restricted stock units were both granted and shown as vested for portions of the award. The filing cites Rule 16b-3 exemptions and the 2016 Omnibus Compensation Plan as the grant vehicle, indicating these are standard director compensation mechanics rather than open-market trades or corporate control transactions.

Corporate Governance Expert

TL;DR Compensation-related equity activity for an outside director; administrative and exempt under standard shareholder-approved plan.

The disclosure identifies the awards as governed by the shareholder-approved 2016 Omnibus Compensation Plan and the outside directors’ deferral program, with an attorney-in-fact signature on 10/01/2025. This aligns with routine governance practices for non-employee director compensation and appropriate Rule 16b-3 treatment for exempt acquisitions. No departures, sales, or unusual transfers are reported.

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).

1. Name and Address of Reporting Person^*

Joung Chansoo

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2025

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	$0(1)	09/30/2025		M		2,059		(2)	(2)	Common Stock	2,059	$0	97,155	D
Restricted Stock / Units	$0(3)	09/30/2025		A		2,059		09/30/2025(4)	(4)	Common Stock	2,059	$0	2,059	D
Restricted Stock / Units	$0(3)	09/30/2025		M			2,059	09/30/2025(5)	(5)	Common Stock	2,059	$0	0	D

Explanation of Responses:

1. One share of APA common stock for each phantom stock unit.

2. Exempt acquisition pursuant to Rule 16b-3(d) - accrued under the deferred compensation provisions of APA's Outside Directors' Deferral Program.

3. One share of APA common stock for each restricted stock unit.

4. Restricted stock units granted to each of APA's non-employee directors under the 2016 Omnibus Compensation Plan which plan was approved by shareholders in May 2016.

5. Vesting of restricted stock units granted to each of APA's non-employee directors under the 2016 Omnibus Compensation Plan.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Chansoo Joung	10/01/2025
	** 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 transactions did APA director Chansoo Joung report on the Form 4?

Chansoo Joung reported conversions of 2,059 phantom stock units to common shares and grants/vestings of 2,059 restricted stock units, all dated 09/30/2025.

How many APA shares does Chansoo Joung beneficially own after the reported transactions?

The filing reports beneficial ownership of 97,155 shares of APA common stock following the transactions.

Under what plan were the restricted stock units granted?

The restricted stock units were granted under APA’s 2016 Omnibus Compensation Plan, which was approved by shareholders.

Were these transactions treated as exempt under Rule 16b-3?

Yes. The Form 4 states the acquisition was an exempt acquisition pursuant to Rule 16b-3 related to the outside directors’ deferral program.

What are the relevant dates on the Form 4 filing?

Transaction date: 09/30/2025. Signature/filing acknowledgement by attorney-in-fact: 10/01/2025.