Deborah L. Byers - Mar 31, 2023 Form 4 Insider Report for Kinetik Holdings Inc. (KNTK)

Role
Director
Signature
By: /s/ Todd Carpenter, Attorney-in-Fact
Stock symbol
KNTK
Transactions as of
Mar 31, 2023
Transactions value $
$134,991
Form type
4
Date filed
4/4/2023, 04:30 PM
Previous filing
Feb 22, 2023
Next filing
Jun 2, 2023

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction KNTK Deferred Stock Units Award $135K +4.36K +236.61% $30.94 6.21K Mar 31, 2023 Class A Common Stock 4.36K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person received a grant of deferred stock units ("DSU") in lieu of director cash compensation. Once vested, each DSU represents a contingent right to receive an amount in cash equal to the value of one share of Kinetik Holdings Inc.'s (the "Company") Class A common stock. 1,091 DSUs vested on April 1, 2023, 1,091 DSUs will vest on July 1, 2023, 1,091 DSUs will vest on October 1, 2023, and 1,090 DSUs will vest on January 1, 2024, so long as the reporting person continuously provides services to the Company from the date of grant through each vesting date. Pursuant to the reporting person's election under the Kinetik Holdings Inc. 2019 Omnibus Compensation Plan, as amended from time to time (the "Plan"), settlement of vested DSUs has been deferred until the earliest to occur of a Change of Control (as defined in the Plan) or the reporting person's termination from service with the Company.
F2 (continued from footnote 1) While the DSUs remain outstanding, an amount equal to the dividends that would have been paid on the DSUs had they been in the form of common stock will be reinvested into additional DSUs based on the same amount at which dividends are reinvested pursuant to the Company's Dividend Reinvestment Plan, as amended from time to time. The additional DSUs will be subject to the same vesting schedule described above for the initial DSUs and, pursuant to the reporting person's election under the Plan, any additional DSUs that become vested will be settled at the same time as the initial DSUs subject to the award.
F3 Amount reported includes 47 additional DSUs acquired by Ms. Byers since the date of Ms. Byers' last Form 5 in connection with the reinvestment of dividends described herein.