[Form 4] APA Corporation Insider Trading Activity

Rhea-AI Filing Summary

Charles W. Hooper, a director of APA Corp (APA), received 276 phantom stock units that converted to 276 shares of APA common stock on 08/22/2025 under the companys Outside Directors' Deferral Program. The acquisition is reported as exempt under Rule 16b-3(d) and was executed by an attorney-in-fact. The filing shows a price reference of $21.64 and, after the transaction, Mr. Hooper beneficially owns 24,158 shares directly. The report documents a routine, deferred-compensation-based issuance to a director rather than an open-market purchase or sale.

Positive

• Proper disclosure of director compensation conversion and reliance on Rule 16b-3(d)
• Small, routine issuance of 276 shares that is unlikely to materially affect share count
• Clear reporting of resulting direct beneficial ownership of 24,158 shares

Negative

• None.

Insights

Financial Analyst

TL;DR Routine director compensation converted to common shares; immaterial to APA's capital structure.

The filing shows a non-market, exempt acquisition of 276 shares via conversion of phantom stock units under the Outside Directors' Deferral Program. The transaction code J and the Rule 16b-3(d) exemption indicate this is a compensatory issuance rather than a traded transaction. The price field shows $21.64, likely for reporting reference; no cash purchase or disposition was reported. Incremental share issuance of 276 shares is small relative to total outstanding shares and is a standard director compensation event.

Corporate Governance Expert

TL;DR Standard deferred-compensation distribution to a director, properly reported and exempt under Rule 16b-3(d).

The report documents compliance with Section 16 reporting for a director-level award converted to common stock. Use of an attorney-in-fact to sign is disclosed. The nature of the issuance—phantom units accrued and converted under the Outside Directors' Deferral Program—aligns with common governance practices for non-employee directors and is categorized as an exempt compensatory transaction.

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
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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^*

Hooper Charles W

(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)
08/22/2025

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)	08/22/2025		J		276		(2)	(2)	Common Stock	276	$21.64	24,158	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.

Remarks:

	Kyle W. Funderburk, Attorney-in-Fact for Charles W. Hooper	08/22/2025
	** 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 transaction did Charles W. Hooper report on APA's Form 4?

He reported the conversion of 276 phantom stock units into 276 shares of APA common stock on 08/22/2025.

Was the acquisition of APA shares by the director a market purchase?

No. The filing lists transaction code J and states the acquisition was exempt under Rule 16b-3(d) as a compensatory issuance from the Outside Directors' Deferral Program.

How many APA shares does Charles W. Hooper beneficially own after the transaction?

The Form 4 reports he beneficially owns 24,158 shares of APA common stock following the transaction.

What price is reported in the Form 4 for the shares?

The filing shows a price reference of $21.64, associated with the reported common stock entry.

Who signed the Form 4 on behalf of the reporting person?

The Form 4 was signed by Kyle W. Funderburk, Attorney-in-Fact for Charles W. Hooper on 08/22/2025.