APA (NASDAQ: APA) exec VP granted RSUs and sells 15,374 shares

Rhea-AI Filing Summary

APA Corp executive vice president Mark D. Maddox reported a mix of equity awards and share transactions dated 01/28/2026. He received 30,748 restricted stock units (RSUs) under APA’s 2023 Performance Program, which the footnotes state are cash-settled only and are economically equivalent to common shares.

On the same date, 15,374 RSUs were converted into common stock at a stated price of $0, and 15,374 common shares were sold at $25.36 per share. After these transactions, Maddox directly held 72,876.471 common shares, plus 4,843.625 shares indirectly held by the trustee of an NQ plan, and 60,199 RSUs outstanding.

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)
01/28/2026

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
Common Stock	01/28/2026		M(1)		15,374	A	$0	88,250.471	D
Common Stock	01/28/2026		D(2)		15,374	D	$25.36	72,876.471	D
Common Stock								4,843.625	I	Held by Trustee of NQ Plan

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
Restricted Stock / Units(3)	$0(2)	01/28/2026		A		30,748		(4)	(4)	Common Stock	30,748	$0	75,573	D
Restricted Stock / Units(3)	$0(2)	01/28/2026		M			15,374	(1)	(1)	Common Stock	15,374	$0	60,199	D

Explanation of Responses:

1. RSU vesting under 2023 Performance Program under 2016 Omnibus Compensation Plan to be settled in cash only.

2. Each restricted stock unit is the economic equivalent of one share of the Issuer's common stock and can only be settled in cash.

3. With tandem tax withholding right.

4. 2023 Performance Program under 2016 Omnibus Compensation Plan with performance period ended 12/31/2025. Final number of RSUs determined on 01/28/2026.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Mark D. Maddox	01/29/2026
	** 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).
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FAQ

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

APA reported that Executive VP Mark D. Maddox received 30,748 restricted stock units and had 15,374 RSUs convert into common stock, followed by a sale of 15,374 shares at $25.36, updating his direct, indirect, and RSU holdings.

How many APA (APA) restricted stock units did Mark D. Maddox receive?

Mark D. Maddox received 30,748 restricted stock units under APA’s 2023 Performance Program. The filing notes these RSUs are economically equivalent to one common share each but can only be settled in cash, meaning they do not result in new share issuances upon settlement.

At what price did Mark D. Maddox sell APA (APA) common stock?

Maddox sold 15,374 shares of APA common stock at $25.36 per share. This sale followed the conversion of an equal number of restricted stock units into common stock, aligning the sale size exactly with the vested and converted award units.

What are Mark D. Maddox’s APA (APA) common stock holdings after the Form 4?

After the reported transactions, Maddox directly held 72,876.471 APA common shares. He also had 4,843.625 shares held indirectly by the trustee of a nonqualified plan, in addition to 60,199 restricted stock units outstanding as part of his compensation.

Are APA (APA) restricted stock units for Mark D. Maddox settled in shares or cash?

The filing states that each restricted stock unit is the economic equivalent of one APA common share but can only be settled in cash. This means Maddox’s RSUs deliver cash value rather than additional shares, even though they track the stock price.

What APA (APA) compensation program granted Mark D. Maddox new RSUs?

Maddox’s new 30,748 RSUs were granted under APA’s 2023 Performance Program within the 2016 Omnibus Compensation Plan. The performance period ended on 12/31/2025, and the final number of RSUs was determined on 01/28/2026, according to the footnotes.