Form 4: APA Director Annell Bay Reports Equity Grants and Vesting

APA Corp. Director Annell R. Bay reported the acquisition of phantom stock units and restricted stock units, alongside the vesting of previously granted restricted stock units, effective December 31, 2025.

Summary

• Annell R. Bay, a Director of APA Corp., reported changes in her beneficial ownership of company securities.
• On December 31, 2025, Bay acquired 2,044 phantom stock units (PSUs) under APA's Outside Directors' Deferral Program, which are exempt acquisitions pursuant to Rule 16b-3(d).
• Following this transaction, Bay beneficially owns 99,492 phantom stock units, which includes 1,007 units accrued from dividends paid on APA common stock.
• Also on December 31, 2025, Bay was granted 2,044 restricted stock units (RSUs) under the 2016 Omnibus Compensation Plan, which was approved by shareholders in May 2016.
• Concurrently, 2,044 previously granted restricted stock units vested on December 31, 2025, under the same 2016 Omnibus Compensation Plan.

Sentiment

Score: 6

Explanation: The filing reports routine equity compensation events for a director, including grants and vesting of phantom stock units and restricted stock units, which are part of a shareholder-approved plan. This is generally viewed as a neutral to slightly positive event as it aligns director incentives with shareholder interests.

Positives

• The grant of 2,044 restricted stock units to a director aligns director incentives with shareholder interests.
• The accrual of 1,007 phantom stock units from dividends indicates ongoing participation in company performance.
• All reported transactions are part of a shareholder-approved compensation plan (the 2016 Omnibus Compensation Plan), reflecting established corporate governance.

Future Outlook

NA

Industry Context

NA

Corporate Governance

Stakeholder Impact

• Shareholders: The director's interests are further aligned with shareholders through increased equity ownership and participation in company performance.

Key Dates

Recommendation

The filing details routine equity compensation for a director, including grants and vesting of phantom stock units and restricted stock units, under a pre-approved plan. These events are standard for public companies and do not provide new information that would warrant a change in investment recommendation. The transactions align director incentives with shareholder interests, which is a positive, but not a catalyst for a 'buy' or 'sell' decision.

Keywords

APA Corp, Annell R. Bay, Form 4, Insider Transaction, Phantom Stock Units, Restricted Stock Units, Director Compensation, Equity Grant, Vesting, Deferred Compensation