Maddox Mark D 4

What Happened

• Mark D. Maddox, Executive VP — Administration at APA Corp (APA), sold 9,800 shares in an open-market/private sale on 2026-05-20 for a weighted average price of $40.04, generating $392,392. On the same date he acquired 15,500 phantom stock units (derivative) valued at $39.32 each, totaling $609,460. The sale is a disposition (S); the acquisition is reported as a derivative/discretionary transaction (I).

Key Details

• Transaction date: 2026-05-20; filing date: 2026-05-22 (filed timely within standard reporting window).
• Sale: 9,800 shares at a weighted average price of $40.04; total proceeds $392,392. Footnote F1 notes the sale occurred in multiple trades at prices from $40.00 to $40.16.
• Acquisition: 15,500 phantom stock units at $39.32 each; total value $609,460. Footnotes F2–F3 explain these are phantom units (economic equivalent to one share each, payable in stock or cash under the company’s non‑qualified retirement plan) and represent a participant-directed transfer into the APA deemed investment alternative under Rule 16b-3(f).
• Shares owned following the reported transactions: not disclosed in the provided filing.

Context

• The acquisition was a discretionary transfer within the company’s non‑qualified retirement plan (i.e., moving existing account value into an APA stock option), not an open‑market buy. Phantom stock units track the economic value of APA shares and may be settled in stock or cash per the plan terms. The sale appears to be routine disposition; filings do not state any tax withholding or 10b5-1 trading plan.