Form 4: APA Corp Executive Acquires Phantom Stock Units Under Deferred Compensation Plan

Rebecca A. Hoyt, Sr. VP and Chief Accounting Officer of APA Corp, acquired phantom stock units under the company's deferred compensation plan on May 22, 2024.

Summary

• On May 22, 2024, Rebecca A. Hoyt, the Sr. VP and Chief Accounting Officer of APA Corp, acquired 6.0397 phantom stock units.
• The acquisition was made under APA's Deferred Delivery Plan, pursuant to Rule 16b-3(d).
• The price of each phantom stock unit is $30.13.
• Following the transaction, Hoyt directly owns 733.9491 phantom stock units.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to executive compensation, which is generally viewed neutrally. The use of deferred compensation plans is a common practice and can be seen as a positive sign of aligning management interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the executive's interests with those of the shareholders.
• The deferred compensation plan may incentivize long-term performance.

Industry Context

Executive compensation through equity-based awards is a common practice in the oil and gas industry to align management's interests with shareholder value.

Comparison to Industry Standards

• Companies like ExxonMobil (XOM) and Chevron (CVX) also utilize deferred compensation plans and stock awards as part of their executive compensation packages.
• The specifics of these plans vary, but the general goal is to incentivize long-term performance and retain key personnel.
• The amount of phantom stock units awarded to Rebecca A. Hoyt is relatively small compared to the overall equity compensation packages of top executives at larger oil and gas companies.

Key Dates