ISQ Holdings, LLC 4

What Happened

• ISQ Global Fund II GP LLC, identified as a 10% owner, sold a total of 375,343 shares of Kinetik Holdings Inc. (KNTK) in open‑market transactions on April 27–29, 2026. The trades were reported as: 868 shares at a weighted average price of $48.01 (proceeds $41,673) on Apr 27; 192,041 shares at $48.56 (proceeds $9,324,858) on Apr 28; and 183,434 shares at $49.53 (proceeds $9,084,752) on Apr 29. Total reported proceeds ≈ $18.45 million. These were sales (not purchases or option exercises).

Key Details

• Transaction dates and reported weighted‑average prices:
  • Apr 27, 2026 — 868 shares @ $48.01 (weighted avg; per footnote sold across $48.00–$48.025)
  • Apr 28, 2026 — 192,041 shares @ $48.56 (weighted avg; sold across $48.00–$48.92)
  • Apr 29, 2026 — 183,434 shares @ $49.53 (weighted avg; sold across $48.955–$49.715)
• Total shares sold: 375,343; total proceeds: ~$18,451,283.
• Shares owned after the transactions are not specified in the data provided in this summary (refer to the full Form 4 for post‑trade holdings).
• Ownership/beneficial‑ownership note (footnote): the securities are directly held by Buzzard Midstream LLC; Fund II GP is the general partner exercising voting and investment power. I Squared Capital, ISQ Holdings, and named members are part of the ownership chain and disclaim direct beneficial ownership except to the extent of pecuniary interest.
• Filing: Form 4 filed Apr 29, 2026, reporting trades dated Apr 27–29, 2026. (Check the full filing for any timeliness codes or additional disclosures.)

Context

• This filing reflects institutional selling by a 10% holder (an entity in the I Squared Capital group), not an individual executive. Institutional sales can be for portfolio rebalancing or liquidity; the filing itself does not state motive.
• Prices shown are weighted averages because each day's sales occurred in multiple trades across the price ranges noted in the footnotes.