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Companies Apa Corp

Apa (APA): executive pay, fiscal 2025

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CEO total pay$13,202,517CEO John Christmann IV · source
Say-on-pay support86.03%Latest vote · source
CEO vs. named peers50th pct.Of 12 peer CEOs
CEO pay ratio56:1To the median employee · source

CEO pay, last three years

  • $13,763,441FY2023
  • $11,440,709FY2024
  • $13,202,517FY2025

CEO total pay was $13,202,517 in fiscal 2025, up from $11,440,709 in fiscal 2024.

FY2025: salary $1,300,000 · bonus $0 · stock awards $6,018,436 · option awards $1,897,996

Executives and directors

Frequently asked questions

Who was the highest-paid executive at Apa Corp in fiscal 2025?
As disclosed, John Christmann IV (Chief Executive Officer) was the highest-paid executive at Apa Corp in fiscal 2025, with total compensation of $13,202,517.
How does Apa Corp's chief executive pay compare to its disclosed peer group?
As disclosed, John Christmann IV's total compensation ranked at the 50th percentile of Apa Corp's disclosed peer group.
What is Apa Corp's CEO-to-median employee pay ratio?
As disclosed, Apa Corp's CEO-to-median employee pay ratio was 56:1.
How did shareholders vote on Apa Corp's executive compensation?
As disclosed, 86.03% of shareholders supported Apa Corp's executive compensation in the latest say-on-pay vote.
How much does Apa Corp spend in total on board compensation for fiscal 2025?
As disclosed, Apa Corp reported total board compensation of $3,359,257 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

Full detail

Every table from the filing. Open any section.

Summary compensation table
Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
John Christmann IV$1,300,000$0$6,018,436$1,897,996$3,454,360$0$531,725$13,202,517
Chief Executive Officer
Stephen Riney900,000110,1603,424,6021,079,9942,049,8400340,4597,905,055
President
Kimberly Warnica606,859500,0001,347,454437,4981,151,8180114,0714,157,700
EVP, Chief Legal Officer, and Corporate Secretary
D. Clay Bretches290,74201,712,301539,997001,577,5324,120,572
Former EVP, Operations
Tracey Henderson625,00001,387,251437,4981,186,2500207,8903,843,889
EVP, Exploration
Ben Rodgers580,23253,873951,232299,9931,002,4680156,5963,044,394
EVP, Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
John Christmann IV$13,202,517$11,440,709$13,763,441↑ +1,761,808
Stephen Riney7,905,0556,707,4276,677,769↑ +1,197,628
Kimberly Warnica4,157,700———
D. Clay Bretches4,120,5723,826,9714,906,020↑ +293,601
Tracey Henderson3,843,8893,286,3684,168,620↑ +557,521
Ben Rodgers3,044,394———

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

Incentive-plan design — the Compensation Discussion & Analysis

We target total compensation opportunity at the median of our compensation peer group, with realizable pay determined by performance--executives can earn above or below their target opportunities based on actual performance results.

CEO STI target (% of salary)140%
CEO LTI target (% of salary)—
Independent consultantPearl Meyer & Partners, LLC
Clawback policyTrue
Anti-hedgingTrue
Anti-pledgingTrue
Equity grants and outstanding awards

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Stephen RineyPSU2025-01-0916,41982,094—164,188$1,943,986
Tracey HendersonPSU2025-01-096,65133,255—66,510787,478
Ben RodgersPSU2025-01-094,56122,803—45,606539,975
John Christmann IVPSU2025-01-0928,855144,273—288,5463,416,385

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Stephen Riney$0$1,943,986$0100.0%
Tracey Henderson0787,4780100.0%
Ben Rodgers0539,9750100.0%
John Christmann IV03,416,3850100.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
D. Clay BretchesRSU1,445—$35,345
Ben RodgersRSU1,676—40,995
D. Clay BretchesRSU1,806—44,175
D. Clay BretchesRSU2,168—53,029
Ben RodgersRSU2,513—61,468
D. Clay BretchesRSU2,709—66,262
Tracey HendersonRSU2,768—67,705
D. Clay BretchesRSU3,215—78,639
Tracey HendersonRSU4,151—101,533
Ben RodgersRSU4,744—116,038
Tracey HendersonRSU5,000—122,300
Stephen RineyRSU5,030—123,034
Tracey HendersonRSU6,918—169,214
Ben RodgersRSU7,115—174,033
Stephen RineyRSU7,545—184,551
D. Clay BretchesOption8,00723.68—
Tracey HendersonRSU10,376—253,797
John Christmann IVRSU10,692—261,526
Ben RodgersRSU12,668—309,859
D. Clay BretchesPSU13,684—334,711
Ben RodgersPSU15,141—370,349
Ben RodgersPSU16,009—391,580
John Christmann IVRSU16,037—392,265
Stephen RineyRSU17,077—417,703
Kimberly WarnicaRSU17,945—438,935
Tracey HendersonRSU18,475—451,899
Tracey HendersonPSU19,829—485,017
Ben RodgersPSU22,624—553,383
Ben RodgersPSU22,803—557,761
Tracey HendersonPSU23,346—571,043
Stephen RineyRSU25,615—626,543
John Christmann IVRSU30,011—734,069
Ben RodgersOption31,54523.68—
Kimberly WarnicaPSU32,301—790,082
D. Clay BretchesPSU32,444—793,580
Tracey HendersonPSU33,255—813,417
Tracey HendersonPSU37,366—913,972
D. Clay BretchesPSU41,699—1,019,958
John Christmann IVRSU45,016—1,101,091
Stephen RineyRSU45,608—1,115,572
Tracey HendersonOption46,00423.68—
Kimberly WarnicaOption46,00424.38—
Stephen RineyPSU47,767—1,168,381
Stephen RineyPSU57,633—1,409,703
Stephen RineyPSU67,900—1,660,834
John Christmann IVRSU80,152—1,960,518
Stephen RineyPSU82,094—2,008,019
John Christmann IVPSU101,286—2,477,456
John Christmann IVPSU101,540—2,483,668
Stephen RineyOption113,56423.68—
John Christmann IVPSU144,273—3,528,918
John Christmann IVPSU144,342—3,530,605
John Christmann IVOption199,57923.68—
Director compensation
DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
H. Lamar McKayIndependent · Board Chair$200,000$299,920$0—$0$499,920
Kenneth M. FisherIndependent · Audit (Chair) · Cybersecurity129,303199,9610—10,000339,264
Juliet S. EllisIndependent120,000199,9610—10,000329,961
Annell R. BayIndependent115,000199,9610—10,000324,961
Chansoo JoungIndependent · Audit · Cybersecurity115,385199,9610—0315,346
Anya WeavingIndependent · Audit · CRG&N · Corporate Responsibility, Governance, and Nominating105,000199,9610—10,000314,961
Peter A. RagaussIndependent · Audit · Cybersecurity105,000199,9610—10,000314,961
Charles W. HooperIndependent115,000199,9610—0314,961
Matthew R. BobIndependent · Audit · Corporate Responsibility, Governance, and Nominating · Not standing for re-election105,000199,9610—0304,961
David L. StoverIndependent100,000199,9610—0299,961
John J. Christmann IVEmployee director000—00

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer$200,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)20,000
Stock ownership guideline$600,000

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,209,688
Equity awards (grant-date value)$2,099,569
All other compensation$50,000
Total cost of the board$3,359,257

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

Peer group, and who names Apa as a peer

Companies that benchmark against APA

25 companies name APA as a compensation peer

The list of companies that name APA as a peer is temporarily unavailable — recheck shortly.

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

Peer reciprocity

The companies Apa Corp names as compensation peers that name it back in their own disclosed peer groups.

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Occidental Petroleum Corp.2025Vicki Hollub$1,596,781$12,298,207$0$3,200,000$18,055,969
2Hess Corp.2024John Hess1,575,00012,075,03604,358,70018,036,267
3EOG Resources, Inc.2025Ezra Yacob1,434,61512,729,62802,718,80017,576,636
4Diamondback Energy, Inc.2025Kaes Van t Hof1,109,50011,101,46202,676,35014,931,423
5Coterra Energy, Inc.2024Thomas Jorden1,198,55810,628,85002,500,00014,748,960
6Ovintiv Inc.2025Brendan McCracken1,185,0009,900,00502,136,75013,693,140
7Apa Corp2025John Christmann IV1,300,0006,018,4361,897,9963,454,36013,202,517
8Marathon Oil Corp.2023Lee Tillman1,200,0008,668,144—1,980,00012,830,222
9Devon Energy Corp.2025Clay Gaspar938,1259,633,68901,612,00012,566,384
10Expand Energy Corp.2025Domenic Dell'Osso947,3468,890,444——9,879,106
11Civitas Resources Inc.2024M. Christopher Doyle1,431,1506,933,919008,385,769
12Murphy Oil Corp.2025Eric Hambly950,0004,917,31501,324,0637,651,445
13Antero Resources Corp.2025Michael Kennedy655,4704,325,73401,678,3076,687,656

Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Apa Corp189.8%PSU 60 · Options 20 · RSU 20Yes — Relative TSRPearl Meyer & Partners, LLC
Antero Resources Corp.157.2%PSU 50 · RSU 50Yes — Absolute TSRCBIZ Compensation Consulting
Civitas Resources Inc.not disclosedPSU 70 · RSU 30Yes — Absolute TSRMeridian Compensation Partners, LLC
Coterra Energy, Inc.174%PSU 50 · RSU 50Yes — Relative TSRF.W. Cook and Zayla Partners
Devon Energy Corp.124%PSU 60 · RSU 40Yes — Relative TSRMeridian Compensation Partners, LLC
Diamondback Energy, Inc.161%PSU 60 · RSU 40Yes — Total Stockholder Return (relative to TSR performance peer group)Meridian
EOG Resources, Inc.125%PSU 60 · RSU 40Yes — Relative TSR vs Performance Peer GroupMeridian Compensation Partners, LLC
Expand Energy Corp.not disclosedPSU 70 · RSU 30Yes — Absolute TSRMeridian Compensation Partners, LLC
Hess Corp.184.3%Restricted Stock 100not disclosedSemler Brossy Consulting Group LLC
Marathon Oil Corp.110%RSU 40 · FCF PSU 30 · TSR PSU 30NoMeridian Compensation Partners LLC
Murphy Oil Corp.not disclosednot disclosednot disclosedMeridian Compensation Partners LLC
Occidental Petroleum Corp.125%PSU 60 · RSU 40Yes — Total Shareholder Return (TSR)Meridian Compensation Partners, LLC
Ovintiv Inc.140%RSU 50 · PSU 50Yes — Relative TSRFW Cook

Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.

Say-on-pay history and pay ratio
Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-21238,710,64538,762,516658,89786.03%Passed
20252025-05-22236,063,20145,671,2501,106,12583.79%Passed
20242024-05-23158,366,37969,581,737527,61569.47%Passed
20232023-05-23216,122,31312,645,364602,44094.47%Passed
20222022-05-13178,067,13677,876,896683,29769.57%Passed
20212021-05-27262,442,11712,857,054529,37795.33%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.

Say-on-pay — history, company’s computation

Meeting yearMeeting dateApproval — company’s computation
20262026-05-2186.03%a
20252025-05-2283.79%b
20242024-05-2369.47%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Approved under the standard stated in the filing — “Advisory vote to approve NEO compensation Majority of votes cast No Impact ✓ FOR Any other business that properly comes before the meeting or any adjournment thereof Majority of votes cast No Impact In accordance with the judgment of the persons voting the proxy Representatives of EQ Shareowner Services will tabulate the votes and act as inspectors of the election.”.

Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

CEO pay ratio

Ratio (CEO : median employee)56 : 1
CEO total compensation$13,202,517
Median employee compensation$237,527
Insider trades since the proxy

No insider equity transactions reported since the proxy statement.

Sources (51 citations)

Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.

  • Section 01, John Christmann IV. DEF 14A, filed 2026-04-09. Section “Summary Compensation Table” · page 32. As printed: 13,202,517. View filing ↗
  • Section 01, Stephen Riney. DEF 14A, filed 2026-04-09. Section “Summary Compensation Table” · page 32. As printed: 7,905,055. View filing ↗
  • Section 01, Kimberly Warnica. DEF 14A, filed 2026-04-09. Section “Summary Compensation Table” · page 32. As printed: 4,157,700. View filing ↗
  • Section 01, D. Clay Bretches. DEF 14A, filed 2026-04-09. Section “Summary Compensation Table” · page 32. As printed: 4,120,572. View filing ↗
  • Section 01, Tracey Henderson. DEF 14A, filed 2026-04-09. Section “Summary Compensation Table” · page 32. As printed: 3,843,889. View filing ↗
  • Section 01, Ben Rodgers. DEF 14A, filed 2026-04-09. Section “Summary Compensation Table” · page 32. As printed: 3,044,394. View filing ↗
  • Section 03, Stephen Riney PSU. DEF 14A, filed 2026-04-09. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Tracey Henderson PSU. DEF 14A, filed 2026-04-09. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, Ben Rodgers PSU. DEF 14A, filed 2026-04-09. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 03, John Christmann IV PSU. DEF 14A, filed 2026-04-09. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
  • Section 07, pay ratio. DEF 14A, filed 2026-04-09. Section “CEO Pay Ratio”. As printed: 56 : 1. View filing ↗
  • Section 08, H. Lamar McKay. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 499,920. View filing ↗
  • Section 08, Kenneth M. Fisher. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 339,264. View filing ↗
  • Section 08, Juliet S. Ellis. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 329,961. View filing ↗
  • Section 08, Annell R. Bay. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 324,961. View filing ↗
  • Section 08, Chansoo Joung. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 315,346. View filing ↗
  • Section 08, Anya Weaving. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 314,961. View filing ↗
  • Section 08, Peter A. Ragauss. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 314,961. View filing ↗
  • Section 08, Charles W. Hooper. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 314,961. View filing ↗
  • Section 08, Matthew R. Bob. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 304,961. View filing ↗
  • Section 08, David L. Stover. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 299,961. View filing ↗
  • Section 08, John J. Christmann IV. DEF 14A, filed 2026-04-09. Section “Director Compensation”. As printed: 0. View filing ↗
  • Section 06, 2026 vote. Form 8-K, filed 2026-05-26. Item 5.07 · say-on-pay result. As reported: 86.03% (votes for as printed: 238,710,645). View filing ↗
  • Section 06, 2025 vote. Form 8-K, filed 2025-05-28. Item 5.07 · say-on-pay result. As reported: 83.79% (votes for as printed: 236,063,201). View filing ↗
  • Section 06, 2024 vote. Form 8-K, filed 2024-05-29. Item 5.07 · say-on-pay result. As reported: 69.47% (votes for as printed: 158,366,379). View filing ↗
  • Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
  • Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
  • Section 09b board cost (computed). Computed. Cash 1,209,688 + equity 2,099,569 + all other 50,000 = 3,359,257, summed across the director compensation table rows.
  • Occidental Petroleum Corp., Section 10b CEO total. DEF 14A, filed 2026-03-19. CEO total compensation as printed in Occidental Petroleum Corp.'s own proxy. As printed: 18,055,969. View filing ↗
  • Hess Corp., Section 10b CEO total. DEF 14A, filed 2025-04-04. CEO total compensation as printed in Hess Corp.'s own proxy. As printed: 18,036,267. View filing ↗
  • EOG Resources, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in EOG Resources, Inc.'s own proxy. As printed: 17,576,636. View filing ↗
  • Diamondback Energy, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Diamondback Energy, Inc.'s own proxy. As printed: 14,931,423. View filing ↗
  • Coterra Energy, Inc., Section 10b CEO total. DEF 14A, filed 2025-03-20. CEO total compensation as printed in Coterra Energy, Inc.'s own proxy. As printed: 14,748,960. View filing ↗
  • Ovintiv Inc., Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Ovintiv Inc.'s own proxy. As printed: 13,693,140. View filing ↗
  • Apa Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-04-09. CEO total compensation as printed in Apa Corp's own proxy. As printed: 13,202,517. View filing ↗
  • Marathon Oil Corp., Section 10b CEO total. DEF 14A, filed 2024-04-10. CEO total compensation as printed in Marathon Oil Corp.'s own proxy. As printed: 12,830,222. View filing ↗
  • Devon Energy Corp., Section 10b CEO total. DEF 14A, filed 2026-05-28. CEO total compensation as printed in Devon Energy Corp.'s own proxy. As printed: 12,566,384. View filing ↗
  • Expand Energy Corp., Section 10b CEO total. DEF 14A, filed 2026-04-24. CEO total compensation as printed in Expand Energy Corp.'s own proxy. As printed: 9,879,106. View filing ↗
  • Civitas Resources Inc., Section 10b CEO total. DEF 14A, filed 2025-04-21. CEO total compensation as printed in Civitas Resources Inc.'s own proxy. As printed: 8,385,769. View filing ↗
  • Murphy Oil Corp., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Murphy Oil Corp.'s own proxy. As printed: 7,651,445. View filing ↗
  • Antero Resources Corp., Section 10b CEO total. DEF 14A, filed 2026-04-23. CEO total compensation as printed in Antero Resources Corp.'s own proxy. As printed: 6,687,656. View filing ↗
  • Section 10a, EOG Resources, Inc. reciprocity. DEF 14A. EOG Resources, Inc. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Expand Energy Corp. reciprocity. DEF 14A. Expand Energy Corp. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Ovintiv Inc. reciprocity. DEF 14A. Ovintiv Inc. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Antero Resources Corp. reciprocity. DEF 14A. Antero Resources Corp. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Hess Corp. reciprocity. DEF 14A. Hess Corp. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Marathon Oil Corp. reciprocity. DEF 14A. Marathon Oil Corp. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Coterra Energy, Inc. reciprocity. DEF 14A. Coterra Energy, Inc. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Devon Energy Corp. reciprocity. DEF 14A. Devon Energy Corp. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Diamondback Energy, Inc. reciprocity. DEF 14A. Diamondback Energy, Inc. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
  • Section 10a, Murphy Oil Corp. reciprocity. DEF 14A. Murphy Oil Corp. names Apa Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
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