APA director granted 1,535 deferred stock units

Fisher Kenneth M. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Fisher Kenneth M. reported acquisition or exercise transactions in this Form 4 filing.

APA Corp director Kenneth M. Fisher received an equity award of 1,535 common-stock-based units as compensation. The award is structured as restricted stock units granted to each non-employee director under APA’s 2016 Omnibus Compensation Plan. These units immediately vest and are automatically deferred into phantom stock units under the Outside Directors' Deferral Program.

After this grant and deferral, Fisher’s reported balance is 13,977 phantom stock units, consisting of 1,535 newly deferred units, 12,362 previously reported phantom units, and 80 additional units accrued from dividends on APA common stock. This is a routine, non-cash director compensation grant rather than an open-market purchase or sale.

Insider Trade Summary

Grant/Award: 1,535 shares

Grant/Award 1 txn

Insider Fisher Kenneth M.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,535	$0.00	$0.00

Holdings After Transaction: Common Stock — 13,977 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 1,535 newly deferred phantom stock units, 12,362 phantom stock units previously reported, and 80 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Key Figures

Director equity grant: 1,535 units Post-transaction phantom units: 13,977 units Previously reported phantom units: 12,362 units +2 more

5 metrics

Director equity grant 1,535 units Restricted stock units granted to non-employee director

Post-transaction phantom units 13,977 units Total phantom stock units after grant

Previously reported phantom units 12,362 units Phantom stock units before new grant

Dividend-equivalent phantom units 80 units Units accrued from dividends on APA common stock

Grant price $0.0000 per unit Compensation award, no cash paid by director

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 1,535 newly deferred phantom stock units, 12,362 phantom stock units previously reported, and 80 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"

FAQ

What did APA (APA) director Kenneth M. Fisher report in this Form 4?

Kenneth M. Fisher reported receiving 1,535 common-stock-based units as a director compensation award. These restricted stock units vested immediately and were converted into phantom stock units, increasing his deferred balance to 13,977 units under APA’s Outside Directors’ Deferral Program.

Is Kenneth M. Fisher buying or selling APA (APA) shares in this transaction?

This transaction is not a market buy or sell; it is a compensation grant. Fisher received 1,535 restricted stock units at no cash cost, which immediately vested and were deferred into phantom stock units under APA’s director deferral program.

How many APA (APA) phantom stock units does Kenneth M. Fisher hold after the grant?

After the grant, Fisher is reported as holding 13,977 phantom stock units. This total includes 1,535 newly deferred units, 12,362 phantom units previously reported, and 80 phantom units that accrued as dividend equivalents under the deferral program.

What plan governs the director equity award reported by APA (APA)?

The award was granted under APA’s 2016 Omnibus Compensation Plan. For non-employee directors, these restricted stock units vest immediately and are automatically deferred into phantom stock units under APA’s Outside Directors’ Deferral Program, aligning compensation with the company’s stock performance.

What are phantom stock units in APA (APA)’s Outside Directors’ Deferral Program?

Phantom stock units are bookkeeping entries tracking the value of APA common stock. Under the Outside Directors’ Deferral Program, vested restricted stock units and dividend equivalents are credited as phantom units, which defer director compensation rather than issuing actual shares immediately.

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Accepted by SEC EDGAR 07/01/2026 - 04:15 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^*

Fisher Kenneth M.

(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		1,535(1)	A	$0	13,977(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 1,535 newly deferred phantom stock units, 12,362 phantom stock units previously reported, and 80 phantom stock units accrued under the ODDP attributable to dividends paid on APA common stock.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Kenneth M. Fisher	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)