[Form 4] APA Corporation Insider Trading Activity

Rhea-AI Filing Summary

Anya Weaving, a director of APA Corp (APA), acquired 130 shares of APA common stock on 08/22/2025 through conversion of phantom stock units under the company\'s Outside Directors\' Deferral Program. The transaction was reported on Form 4 and was coded as an exempt acquisition under Rule 16b-3(d). The reported price per share associated with the phantom units is $21.64. After the reported transaction, Ms. Weaving beneficially owned 11,395 shares of APA, held directly. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person and includes the standard statement that one share is issued for each phantom stock unit.

Insights

Corporate Governance Expert

TL;DR: Director converted deferred phantom units into 130 common shares, aligning personal and shareholder interests without a market trade.

This Form 4 documents a routine, non-discretionary conversion of phantom stock units under APA\'s Outside Directors\' Deferral Program. Such conversions are typically administrative and exempt under Rule 16b-3(d), meaning they are not subject to short-swing profit recovery. The filing indicates continued alignment between the director and shareholders because deferred compensation became equity, although the size of the grant (130 shares) is immaterial relative to total outstanding shares. No governance red flags are present in the disclosure.

Securities Analyst

TL;DR: The reported transaction is a small, exempt equity issuance to a director and is unlikely to affect APA\'s valuation or share float.

The conversion of 130 phantom units into common stock at an implied $21.64 per share is an issuance event tied to deferred compensation rather than an open-market purchase or sale. The post-transaction direct beneficial ownership of 11,395 shares provides transparency on insider holdings. Given the modest share count, this disclosure is informational and not market-moving. Investors looking for material insider activity should note the exempt nature and small scale of this 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
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^*

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)
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		130		(2)	(2)	Common Stock	130	$21.64	11,395	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 Anya Weaving	08/25/2025
	** 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 did APA director Anya Weaving report on Form 4 (APA)?

The Form 4 reports that Anya Weaving acquired 130 shares on 08/22/2025 via conversion of phantom stock units under APA\\'s Outside Directors\\' Deferral Program.

Was the acquisition by Anya Weaving subject to Rule 16b-3 restrictions?

The filing states the acquisition was exempt pursuant to Rule 16b-3(d), indicating it was a permitted conversion of deferred compensation into shares.

What price is associated with the transaction reported by Anya Weaving on APA Form 4?

The Form 4 lists an associated price of $21.64 per share for the phantom stock unit conversion.

How many APA shares did Anya Weaving own after the reported transaction?

Following the transaction, the Form 4 reports Anya Weaving beneficially owned 11,395 shares directly.

Who signed the Form 4 filing for Anya Weaving (APA)?

The Form 4 was signed by Kyle W. Funderburk, Attorney-in-Fact for Anya Weaving on 08/25/2025.