Kinetik Holdings Inc.: 10% owner ISQ Global Fund II GP LLC sold 2,000,000 shares

What happened

• ISQ Global Fund II GP LLC, identified as a 10% owner, sold 2,000,000 shares in an open-market or private sale at $54.77 per share on Oct 13, 2026 for $109,540,000.
• The filing also reports two conversion-of-derivative-security transactions on Oct 13, 2026: one conversion acquiring 2,000,000 shares (price reported as N/A) and one conversion disposing 2,000,000 shares at $0.00 (derivative).

Key details

• Transaction dates and prices:
  • Oct 13, 2026: conversion of derivative security (C) — 2,000,000 shares acquired, price N/A (Acquired).
  • Oct 13, 2026: open market or private sale (S) — 2,000,000 shares sold at $54.77 per share for $109,540,000 (Disposed).
  • Oct 13, 2026: conversion of derivative security (C) — 2,000,000 shares disposed at $0.00 (Derivative).
• Shares owned after the transaction: not stated in the provided filing excerpt; filing identifies ISQ Global Fund II GP LLC as a 10% owner.
• Relevant footnotes:
  • F1: Securities issued pursuant to a contribution agreement dated Oct 21, 2021.
  • F2: "Kinetik Holdings Units" represent partnership common units paired with Class C common stock; partnership common units have a redemption right for Class A stock or cash and the paired Class C shares are cancelled on redemption.
  • F3: 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 disclaim beneficial ownership except for pecuniary interest.
• Filing timing: filing date Oct 15, 2026; report period Oct 13, 2026. The filing does not indicate it was late.

Why it may matter

• The filing shows conversion of derivative securities and a contemporaneous sale on the same date (conversion entries and a disposal entry on Oct 13, 2026).
• ISQ Global Fund II GP LLC is a 10% owner (a large holder, not an executive).
• The filing does not show why the insider traded or why the company acted.