Form 4: APA Corp Director Ellis Acquires Phantom Stock Units

Director Juliet S Ellis acquired 666 phantom stock units of APA Corp on February 21, 2025, under the company's deferred compensation program.

Summary

• Juliet S Ellis, a director of APA Corp, acquired 666 phantom stock units on February 21, 2025.
• The acquisition was made under APA's Outside Directors' Deferral Program, and is exempt under Rule 16b-3(d).
• Each phantom stock unit is equivalent to one share of APA common stock.
• The price of the phantom stock units was $22.79.
• Following the transaction, Ellis directly owns 61,377 shares of APA common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of phantom stock units by a director is generally a positive sign, indicating confidence in the company's future. However, it's a routine transaction under a pre-existing compensation plan.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.

Industry Context

Director compensation through stock and phantom stock units is a common practice in the oil and gas industry to align management's interests with those of shareholders.

Comparison to Industry Standards

• Companies like ExxonMobil (XOM) and Chevron (CVX) also utilize deferred compensation plans for their directors, often involving stock-based awards.
• The specific terms and amounts of these plans vary based on company size, performance, and compensation philosophy.
• The number of shares owned by Ellis is within the expected range for a director of a company the size of APA Corp.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's performance.

Key Dates

Keywords

APA Corp, Juliet S Ellis, phantom stock units, director, Form 4, deferred compensation, beneficial ownership