APA director awarded 1,178 deferred stock units

Ragauss Peter A reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Ragauss Peter A reported acquisition or exercise transactions in this Form 4 filing.

APA Corp director Peter A. Ragauss received an equity-based compensation award of 1,178 restricted stock units that immediately vested and were automatically deferred into phantom stock units. These units were granted under APA’s 2016 Omnibus Compensation Plan and the Outside Directors’ Deferral Program.

After adding the 1,178 newly deferred phantom stock units, 97,654 previously reported phantom stock units, and 850 phantom stock units accrued from dividends, Ragauss now holds a total of 99,682 phantom stock units credited to his deferred account.

Insider Trade Summary

Grant/Award: 1,178 shares

Grant/Award 1 txn

Insider Ragauss Peter A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,178	$0.00	$0.00

Holdings After Transaction: Common Stock — 99,682 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 reporting person has reported prior awards of restricted stock units and automatic deferrals in the form of phantom stock units in Table II of Form 4. The total reported in Column 5 includes 1,178 newly deferred phantom stock units, 97,654 phantom stock units previously reported in Table II, and 850 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Key Figures

Restricted stock units granted: 1,178 units Total phantom stock units after transaction: 99,682 units Previously reported phantom stock units: 97,654 units +2 more

5 metrics

Restricted stock units granted 1,178 units Grant to non-employee director Peter A. Ragauss

Total phantom stock units after transaction 99,682 units Director’s deferred phantom stock balance after award

Previously reported phantom stock units 97,654 units Phantom units reported before this new deferral

Dividend-related phantom units 850 units Accrued under ODDP from dividends on APA common stock

Grant price per share $0.0000 per unit Equity award recorded with no cash purchase price

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"

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

"automatic deferrals in the form of phantom stock units in Table II"

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

"under the 2016 Omnibus Compensation Plan, which immediately vest"

Outside Directors' Deferral Program financial

"deferred compensation provisions of APA's Outside Directors' Deferral Program"

FAQ

What insider transaction did APA (APA) disclose for Peter A. Ragauss?

APA disclosed that director Peter A. Ragauss received 1,178 restricted stock units as equity compensation. These units immediately vested and were automatically deferred into phantom stock units under APA’s Outside Directors’ Deferral Program, increasing his deferred phantom stock balance.

How many APA (APA) phantom stock units does Peter A. Ragauss hold after this award?

After this award, Peter A. Ragauss is credited with 99,682 phantom stock units. This total includes 1,178 newly deferred units, 97,654 previously reported phantom units, and 850 phantom units accrued from dividends on APA common stock under the deferral program.

Is the APA (APA) award to Peter A. Ragauss an open-market stock purchase?

No, the award is not an open-market purchase. It is a grant of 1,178 restricted stock units to a non-employee director, which immediately vested and were deferred into phantom stock units as part of APA’s compensation and deferral programs, with no cash price per share reported.

Under which plans were the APA (APA) phantom stock units granted and deferred?

The 1,178 restricted stock units were granted under APA’s 2016 Omnibus Compensation Plan. They immediately vested and were automatically deferred into phantom stock units under APA’s Outside Directors’ Deferral Program, which governs deferrals for non-employee directors.

How are dividends on APA (APA) common stock reflected for Peter A. Ragauss?

Dividends on APA common stock result in additional phantom stock units for Peter A. Ragauss. The total of 99,682 phantom units includes 850 phantom stock units accrued under the Outside Directors’ Deferral Program that are attributable to dividends paid on APA common stock.

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Accepted by SEC EDGAR 04/02/2026 - 04:54 PM 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^*

Ragauss Peter A

(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)
03/31/2026

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	03/31/2026		A		1,178(1)	A	$0	99,682(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 reporting person has reported prior awards of restricted stock units and automatic deferrals in the form of phantom stock units in Table II of Form 4. The total reported in Column 5 includes 1,178 newly deferred phantom stock units, 97,654 phantom stock units previously reported in Table II, and 850 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Peter A. Ragauss	04/02/2026
	** 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)