APA Corp director awarded 2,302 stock units

McKay Lamar reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

McKay Lamar reported acquisition or exercise transactions in this Form 4 filing.

APA Corp non-employee director Lamar McKay received a grant of 2,302 restricted stock units of common stock under the 2016 Omnibus Compensation Plan. These units vest immediately and are automatically deferred into phantom stock units under APA’s Outside Directors’ Deferral Program. Following this award, McKay holds a reported total of 55,702 phantom stock units, including 53,058 units previously reported and 342 units accrued from dividends on APA common stock.

Insider Trade Summary

Grant/Award: 2,302 shares

Grant/Award 1 txn

Insider McKay Lamar

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,302	$0.00	$0.00

Holdings After Transaction: Common Stock — 55,702 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 2,302 newly deferred phantom stock units, 53,058 phantom stock units previously reported, and 342 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Key Figures

RSU grant size: 2,302 units Transaction price per unit: $0.0000 Total phantom units after grant: 55,702 units +2 more

5 metrics

RSU grant size 2,302 units Restricted stock units granted to non-employee director on 2026-06-30

Transaction price per unit $0.0000 Compensation grant, not an open-market purchase

Total phantom units after grant 55,702 units Reported total phantom stock units following the transaction

Previously reported phantom units 53,058 units Phantom stock units reported before current grant

Dividend-accrued phantom units 342 units Units accrued under ODDP from dividends on APA common stock

Key Terms

restricted stock units, phantom stock units, 2016 Omnibus Compensation Plan, Outside Directors' Deferral Program

4 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 2,302 newly deferred phantom stock units, 53,058 phantom stock units previously reported, and 342 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")"

FAQ

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

What insider transaction did APA (APA) report for Lamar McKay?

APA reported that director Lamar McKay received 2,302 restricted stock units of common stock. These units vest immediately and convert into phantom stock units under APA’s Outside Directors’ Deferral Program, increasing his deferred equity-based compensation balance.

How many APA phantom stock units does Lamar McKay hold after this grant?

After the 2,302-unit grant, Lamar McKay’s reported total phantom stock units is 55,702. This includes newly deferred units, 53,058 units previously reported, and 342 units accrued from dividends paid on APA common stock under the deferral program.

Was cash paid for Lamar McKay’s new APA restricted stock units?

No cash price was paid for the 2,302 restricted stock units, which are compensation-related awards. The transaction price per share is reported as 0.0000, indicating a grant or award rather than an open-market purchase of APA common stock.

Do Lamar McKay’s APA restricted stock units vest immediately?

Yes. The filing states these restricted stock units granted to APA’s non-employee directors immediately vest. They are then automatically deferred into phantom stock units under the Outside Directors’ Deferral Program, reflecting equity compensation rather than immediate tradable shares.

What is APA’s Outside Directors’ Deferral Program mentioned in Lamar McKay’s filing?

The Outside Directors’ Deferral Program allows non-employee directors’ restricted stock unit awards to be automatically deferred as phantom stock units. Additional phantom units can accrue under this program from dividends paid on APA common stock, as reflected in McKay’s reported 342 dividend-attributable units.

Is Lamar McKay’s APA Form 4 transaction a buy or a grant?

The transaction is a grant or award, not an open-market buy. It is coded as an acquisition under a grant, with the filing describing it as restricted stock units granted to a non-employee director under APA’s 2016 Omnibus Compensation Plan and deferred into phantom stock units.

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

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Accepted by SEC EDGAR 07/01/2026 - 04:25 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^*

McKay Lamar

(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		2,302(1)	A	$0	55,702(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 2,302 newly deferred phantom stock units, 53,058 phantom stock units previously reported, and 342 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Lamar McKay	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)