APA (APA) president reports cash-settled RSUs and 33,950-share sale

Rhea-AI Filing Summary

APA Corp president Stephen J. Riney reported multiple equity-related transactions dated 01/28/2026. He received 67,900 restricted stock units (RSUs) under APA’s 2023 Performance Program, which are the economic equivalent of common shares but can only be settled in cash and include a tandem tax withholding right.

On the same date, 33,950 RSUs were exercised and converted into 33,950 shares of common stock at $0, followed by the sale of 33,950 common shares at $25.36. After these transactions, he directly held 12,344.392 common shares, plus 94,681.596 shares held indirectly by the trustee of an NQ plan and 194,589 shares held indirectly through the Lisa Riney 2016 Family Trust.

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^*

Riney Stephen J

(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)
	President

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)		33,950	A	$0	46,294.392	D
Common Stock	01/28/2026		D(2)		33,950	D	$25.36	12,344.392	D
Common Stock								94,681.596	I	Held By Trustee of NQ Plan
Common Stock								194,589	I	Lisa Riney 2016 Family Trust

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		67,900		(4)	(4)	Common Stock	67,900	$0	179,119	D
Restricted Stock / Units(3)	$0(2)	01/28/2026		M			33,950	(1)	(1)	Common Stock	33,950	$0	145,169	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 Stephen J. Riney	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).
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 did APA (APA) president Stephen J. Riney report on this Form 4?

Stephen J. Riney reported RSU awards, an RSU conversion, and a stock sale. He received 67,900 cash-settled restricted stock units, converted 33,950 RSUs into common shares at $0, and sold 33,950 APA common shares at $25.36 on January 28, 2026.

How many APA shares did Stephen J. Riney sell and at what price?

Stephen J. Riney sold 33,950 shares of APA common stock at $25.36 per share. The sale followed the conversion of an equal number of restricted stock units into common shares at a $0 exercise price on January 28, 2026.

What new restricted stock units did Stephen J. Riney receive from APA?

He received 67,900 restricted stock units under APA’s 2023 Performance Program. Each unit is the economic equivalent of one APA common share but can only be settled in cash, with the final number tied to performance through December 31, 2025.

Are Stephen J. Riney’s APA restricted stock units settled in shares or cash?

The restricted stock units are settled in cash, not shares. Each unit is the economic equivalent of one APA common share and includes a tandem tax withholding right, meaning the award delivers cash value rather than additional APA stock upon settlement.

How many APA shares does Stephen J. Riney hold directly and indirectly after these transactions?

After the transactions, he directly holds 12,344.392 APA common shares. Indirectly, 94,681.596 shares are held by the trustee of an NQ plan and 194,589 shares are held through the Lisa Riney 2016 Family Trust, as reported on the Form 4.

What APA performance program is tied to Stephen J. Riney’s RSU awards?

The RSU awards relate to APA’s 2023 Performance Program under its 2016 Omnibus Compensation Plan. The performance period ended on December 31, 2025, and the final number of restricted stock units was determined on January 28, 2026.