[Form 4] APA Corp Insider Trading Activity

Rhea-AI Filing Summary

APA Corp director Anya Weaving reported transactions on Form 4 showing conversion and grants of equity awards dated 09/30/2025. 2,059 phantom stock units were converted into one share of APA common stock per unit, resulting in 2,059 shares issued and increasing the reporting person’s total beneficial ownership to 13,454 shares. On the same date, 2,059 restricted stock units (RSUs) were granted under APA’s 2016 Omnibus Compensation Plan and another set of 2,059 RSUs is noted as vesting; the filings show acquisitions and vesting were made pursuant to the company’s director deferral and compensation arrangements. The Form 4 was signed by an attorney-in-fact on 10/01/2025.

Positive

• 2,059 phantom stock units converted into common shares, providing clear disclosure of share issuance
• Grants and vesting of 2,059 RSUs occurred under the shareholder-approved 2016 Omnibus Compensation Plan

Negative

• None.

Insights

Securities Analyst

Routine director compensation; modest share issuance converting deferred units to common stock.

The Form 4 discloses non-derivative and derivative-equivalent transactions for a non-employee director on 09/30/2025. The conversion of 2,059 phantom stock units into common shares and concurrent RSU grant/vesting reflect standard director compensation mechanics rather than market-moving insider trading. The filing cites Rule 16b-3(d) exemption and the 2016 Omnibus Compensation Plan as the sources of the acquisitions, indicating these were executed under pre-approved, shareholder-authorized arrangements. Impact on share count is minor given the reported amounts.

Corporate Governance Expert

Compensation actions appear procedurally standard and plan-approved; disclosures align with Section 16 reporting requirements.

The report shows grants and vesting of equity awards to a director and conversion of deferred phantom units into common stock, with explicit cross-reference to the company’s Outside Directors' Deferral Program and the 2016 Omnibus Compensation Plan. The use of the Rule 16b-3(d) exemption suggests the transactions were planned and exempt from short-swing profit recovery. The signature by an attorney-in-fact completes required certification formalities.

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).

1. Name and Address of Reporting Person^*

Weaving Anya

(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	13,454	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 Anya Weaving	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 Anya Weaving report on Form 4?

The Form 4 reports conversion of 2,059 phantom stock units into common shares and the grant and vesting activity for 2,059 restricted stock units on 09/30/2025.

How many APA shares does Anya Weaving beneficially own after the conversion?

The filing shows 13,454 shares beneficially owned by the reporting person following the reported conversion of phantom units.

Under what plans were these equity awards issued?

The awards and conversions reference APA’s Outside Directors' Deferral Program and the 2016 Omnibus Compensation Plan approved by shareholders.

Was the transaction exempt from short-swing profit rules?

Yes. The conversion of phantom units is described as an exempt acquisition pursuant to Rule 16b-3(d).

Who signed the Form 4 filing for Anya Weaving?

The Form 4 was signed by Kyle W. Funderburk, Attorney-in-Fact for Anya Weaving on 10/01/2025.