APA (APA) CFO Ben C. Rodgers logs share sale and cash-settled RSU awards

Rhea-AI Filing Summary

APA Corp EVP and CFO Ben C. Rodgers reported compensation-related equity transactions. On January 28, 2026, he acquired 11,312 shares of common stock at $0 per share and then disposed of 11,312 common shares at $25.36 per share, leaving him with 38,697 common shares held directly.

On the same date, he was credited with 22,624 restricted stock units under APA’s 2023 Performance Program, which are the economic equivalent of common shares but can only be settled in cash. Following these derivative transactions, he directly holds 33,089 restricted stock units.

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).

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^*

Rodgers Ben C

(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)
	EVP and CFO

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)		11,312	A	$0	50,009	D
Common Stock	01/28/2026		D(2)		11,312	D	$25.36	38,697	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
Restricted Stock / Units(3)	$0(2)	01/28/2026		A		22,624		(4)	(4)	Common Stock	22,624	$0	44,401	D
Restricted Stock / Units(3)	$0(2)	01/28/2026		M			11,312	(1)	(1)	Common Stock	11,312	$0(2)	33,089	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 Ben C. Rodgers	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 insider transactions did APA (APA) EVP and CFO Ben C. Rodgers report?

Ben C. Rodgers reported acquiring 11,312 APA common shares at $0 per share and disposing of 11,312 shares at $25.36 per share. He also reported awards and movements in restricted stock units that are settled only in cash, not in actual APA shares.

How many APA (APA) shares does Ben C. Rodgers own after the reported Form 4 transactions?

After the January 28, 2026 transactions, Ben C. Rodgers directly owns 38,697 APA common shares. In addition, he holds 33,089 restricted stock units that are economically equivalent to APA common stock but can only be settled in cash under the company’s compensation programs.

How many APA (APA) shares did Ben C. Rodgers sell, and at what price?

Ben C. Rodgers disposed of 11,312 APA common shares at a price of $25.36 per share on January 28, 2026. The transaction is reported as a disposition of non-derivative common stock on a Form 4, with the shares held directly in his name.

What restricted stock units were granted to APA (APA) EVP and CFO Ben C. Rodgers?

Rodgers was credited with 22,624 restricted stock units on January 28, 2026 under APA’s 2023 Performance Program. Each unit is the economic equivalent of one APA common share but can only be settled in cash, not stock, and carries a tandem tax withholding right.

Are the APA (APA) restricted stock units held by Ben C. Rodgers settled in stock or cash?

The restricted stock units reported by Ben C. Rodgers are settled in cash only. Each unit is described as the economic equivalent of one share of APA common stock, but the footnotes state they can only be settled in cash under the company’s compensation plan.

What compensation program governs Ben C. Rodgers’ APA (APA) restricted stock units?

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