APA Corporation Approves New Performance Share and Stock Option Programs

APA Corporation (NASDAQ:APA) recently disclosed in an 8-K filing that its Management Development and Compensation Committee has sanctioned two new agreements – the Performance Share Program Agreement and the Stock Option Award Agreement – for its executive officers under the 2016 Omnibus Compensation Plan, as amended.

The Performance Share Program Agreement, a new addition approved on January 9, 2025, features a varied vesting structure based on two weighted performance measures. While 60% is tied to Relative Total Shareholder Return, the remaining 40% is linked to Cash Return on Invested Capital. On the other hand, the Option Award Agreement updates the previously issued stock option award agreements, incorporating revisions like the definition of “Involuntary Termination.”

The company did clarify that the descriptions provided of the Award Agreements within the filing are not exhaustive and that the complete details can be referenced in Exhibit 10.1 and Exhibit 10.2, which are attached to the filing and incorporated by reference.

Additionally, in compliance with the Securities Exchange Act of 1934, APA Corporation’s signing corporate secretary, Rajesh Sharma, officially validated the filing on January 10, 2025.

Investors and stakeholders keen on the specifics of these agreements can refer to the filed documents on the United States Securities and Exchange Commission (SEC) website.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read APA’s 8K filing here.

About APA

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.