Form 4: Kinetik Holdings Inc. Executive Anne Psencik Reports Share Transactions

Anne Psencik, Chief Strategy Officer at Kinetik Holdings Inc., reports the acquisition of shares and performance share units, as well as the disposal of shares to cover tax obligations.

Summary

• Anne Psencik, Chief Strategy Officer of Kinetik Holdings Inc., reported several transactions involving the company's Class A Common Stock.
• On December 16, 2024, Ms. Psencik received 7,073 shares of Class A Common Stock as part of her annual incentive award, valued at $0.
• She also acquired 885 performance share units (PSUs) representing dividend equivalents.
• On December 17, 2024, 2,784 shares were disposed of at a price of $56.43 per share to cover tax liabilities related to the incentive award.
• Following these transactions, Ms. Psencik directly owns 259,268 shares of Class A Common Stock and 8,952 performance share units.

Sentiment

Score: 7

Explanation: The document reflects standard executive compensation practices and share transactions. The sentiment is neutral to slightly positive due to the incentive award, but the tax related sale is a negative.

Positives

• The award of 7,073 shares as part of the annual incentive award indicates a positive performance evaluation for Ms. Psencik.
• The accumulation of 885 performance share units through dividend equivalents suggests a long-term alignment of interests with the company's performance.

Negatives

• The sale of 2,784 shares to cover tax liabilities, while a standard practice, reduces Ms. Psencik's overall shareholding.

Risks

• The value of the performance share units is tied to the company's stock price, which is subject to market fluctuations.
• Future tax liabilities related to the vesting of performance share units could lead to further share disposals.

Management Comments

• The filing was signed by Todd Carpenter, Attorney-in-Fact, on behalf of Anne Psencik.

Industry Context

This filing is a routine disclosure of share transactions by a company executive, which is common practice in publicly traded companies. It provides transparency into the ownership changes of key personnel.

Comparison to Industry Standards

• The share transactions are typical for executive compensation and tax obligations in publicly listed companies.
• The use of performance share units is a common practice to align executive interests with company performance, similar to other companies in the energy sector such as Enterprise Products Partners and Williams Companies.

Stakeholder Impact

• The share transactions have a minor impact on shareholders, as they reflect routine executive compensation and tax obligations.
• The award of performance share units aligns executive interests with long-term company performance, which is beneficial for shareholders.

Key Dates

Keywords

Kinetik Holdings Inc., Anne Psencik, Class A Common Stock, Performance Share Units, Incentive Award, Share Transactions, Form 4, Dividend Equivalents, Tax Liability