Rodgers Ben C 4

What Happened Ben C. Rodgers, Executive Vice President and Chief Financial Officer of APA Corp (APA), had performance-based units vest on 01/28/2026. The filing shows conversion/exercise of 11,312 derivative units into shares (no exercise price), followed by a disposition of those 11,312 shares back to the issuer at $25.36 per share for proceeds of $286,872. The filing also shows a grant/award of 22,624 restricted stock units (RSUs) on the same date; these RSUs are derivative awards that will be settled in cash.

Key Details

• Transaction date: 2026-01-28
• Sale: 11,312 shares disposed to the issuer at $25.36 each, total $286,872
• Conversion/Exercise: 11,312 derivative units converted/exercised (reported at $0 exercise price)
• Award: 22,624 RSUs granted (to be settled in cash only)
• Footnotes: RSUs are under the 2023 Performance Program (2016 Omnibus Plan); performance period ended 12/31/2025 and final RSU count was determined 01/28/2026 (F1–F4). Filing notes a tandem tax‑withholding right (F3), consistent with shares surrendered to cover tax obligations.
• Shares owned after the transaction: not specified in the filing
• Timeliness: Filing marked late (L) — the report was filed after the standard reporting deadline

Context This appears to be a routine settlement of performance-based awards: performance units converted to RSUs, with a portion surrendered/sold back to the company to satisfy tax withholding, and the remainder recorded as cash‑settled RSUs. Cash‑settled RSUs do not result in issued shares and are paid in cash based on the company’s stock price; such transactions are common and do not, by themselves, indicate a personal bullish or bearish view. The late filing is an administrative compliance matter to note.