Form 4: APA Corp Director David L. Stover Reports Acquisition of Phantom Stock Units

Director David L. Stover reports acquiring 197 phantom stock units of APA Corp under the company's deferred compensation program.

Summary

• On February 21, 2025, David L. Stover, a director of APA Corp, acquired 197 phantom stock units.
• The acquisition was exempt under Rule 16b-3(d) and accrued under APA's Outside Directors' Deferral Program.
• Each phantom stock unit is equivalent to one share of APA common stock.
• Following the transaction, Stover directly owns 18,182 shares of APA common stock.
• The price of the derivative security is $22.79.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's continued investment in the company through a standard compensation mechanism.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.
• The deferred compensation program aligns the interests of outside directors with those of shareholders.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of a director's acquisition of phantom stock units, a common form of executive compensation in publicly traded companies.

Comparison to Industry Standards

• Deferred compensation plans for outside directors are a common practice among publicly traded companies, particularly in the energy sector.
• Companies like ExxonMobil (XOM) and Chevron (CVX) also utilize deferred compensation plans to align director interests with shareholder value.
• The number of phantom stock units granted is relatively small compared to the overall outstanding shares of APA Corp.

Stakeholder Impact

• The acquisition of phantom stock units by a director aligns their interests with those of shareholders, potentially leading to better corporate governance and decision-making.

Key Dates

Keywords

Form 4, APA Corp, David L. Stover, phantom stock units, director, beneficial ownership, deferred compensation, Rule 16b-3(d)