Form 4: APA Director Ragauss Reports Equity Transactions

APA Corp. Director Peter A. Ragauss reported the acquisition and vesting of phantom stock units and restricted stock units as part of the company's compensation plans.

Summary

• Peter A. Ragauss, a Director of APA Corp., reported transactions involving phantom stock units (PSUs) and restricted stock units (RSUs).
• On December 31, 2025, Ragauss acquired 2,044 phantom stock units under APA's Outside Directors' Deferral Program, which are exempt acquisitions pursuant to Rule 16b-3(d).
• Following this acquisition, Ragauss beneficially owns 97,654 phantom stock units, including 988 units accrued from dividends paid on APA common stock.
• Also on December 31, 2025, Ragauss was granted 2,044 restricted stock units under the 2016 Omnibus Compensation Plan, which was approved by shareholders in May 2016.
• Concurrently, 2,044 restricted stock units previously granted under the same plan vested on December 31, 2025, resulting in 0 units remaining from that specific grant.
• Both phantom stock units and restricted stock units convert to APA common stock on a one-for-one basis.

Sentiment

Score: 6

Explanation: The filing indicates a director's continued equity holdings and participation in compensation plans, which generally aligns management interests with shareholders. It's a routine, expected disclosure without significant positive or negative surprises.

Positives

• Director Peter A. Ragauss continues to hold a significant number of phantom stock units (97,654) and restricted stock units (2,044), aligning his interests with shareholders.
• The transactions are part of established, shareholder-approved compensation plans (Outside Directors' Deferral Program and 2016 Omnibus Compensation Plan), indicating routine and expected compensation practices.

Industry Context

This filing is a routine disclosure of insider transactions, common across all publicly traded companies, and does not provide specific industry context or trends.

Corporate Governance

Related Party Transactions

• The acquisition and vesting of equity awards for Director Peter A. Ragauss constitute related party transactions, as they involve compensation between APA Corp. and a member of its board of directors.

Stakeholder Impact

• Shareholders: The director's continued equity holdings align his interests with those of shareholders, potentially fostering better long-term decision-making and value creation.

Key Dates

Keywords

APA Corp, Peter A. Ragauss, Director, Phantom Stock Units, Restricted Stock Units, Insider Transaction, SEC Form 4, Equity Compensation, Corporate Governance