Kinetik Holdings Inc. 10-K

ITEM 5. MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information The Company’s Class A Common Stock is traded on the NYSE under the symbol “KNTK”. On February 21, 2025, the Class A Common Stock had a closing price of $59.03. Holders On February 21, 2025, there were 191 holders of record of the Company’s Class A Common Stock and eight holders of record of the Company’s Class C Common Stock, par value $0.0001 per share (“Class C Common Stock”). Dividends Holders of the Company’s Class A Common Stock are entitled to receive cash dividends when declared by the Company’s Board out of legally available funds. The Board intends to continue the policy of paying quarterly cash dividends, however, future dividend payments will depend upon our level of earnings, capital expenditure requirements, debt obligations, financial condition and other relevant factors. Recent Sales of Unregistered Securities None. Purchase of Equity Securities by the Issuer and Affiliated Purchasers In February 2023, the Board approved a stock repurchase program (“Repurchase Program”), authorizing discretionary purchases of the Company’s Class A Common Stock up to $100.0 million in the aggregate. The Repurchase Program allowed us to reduce dilution and potentially acquire shares at levels that we believe do not reflect the fundamental earnings power of the Company. Repurchases may be made at management’s discretion from time-to-time throughout the year, in accordance with applicable securities laws on the open market, a trading plan, or through privately negotiated transactions. Except as already disclosed in the Company’s Current Report on From 8-K dated May 13, 2024, there were no repurchase activities during the three and twelve months ended December 31, 2024. For more information regarding the non-deductible 1% U.S. federal excise tax imposed on certain repurchases of stock by publicly traded U.S. corporations, please refer to Part I—Item 1A Risk Factors—Risks Related to Ownership of our Common Stock . 28 Table of Contents Index to Financial Statements Performance Graph The graph and table below compares the Company’s cumulative return to holders of its common stock, the NASDAQ Composite Index, the NYSE Composite Index and the Alerian U.S. Midstream Energy Index during the period beginning on December 31, 2019 and ending on December 31, 2024. The NASDAQ Composite Index was included here as the Company’s Class A Common Stock was traded on NASDAQ prior to switching to NYSE in October 2022. In accordance with SEC rules, the performance graph presents both the indices used in the previous year and the newly selected index. The performance graph was prepared based on the following assumptions: (i) $100 was invested in our Class A Common Stock and in each of the indices at the beginning of the period, and (ii) dividends were reinvested on the relevant payment dates. The stock price performance included in this graph is historical and not necessarily indicative of future stock price performance. COMPARISON CUMULATIVE TOTAL RETURN (1)(2) Among Kinetik Holdings Inc., the NYSE Composite Index, the Nasdaq Composite Index and the Alerian US Midstream Energy Index (1) The performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended (the “Securities Act”) or the Exchange Act except to the extent that we specifically request it be treated as soliciting material or specifically incorporate it by reference. (2) $100 invested on 12/31/2019 in index, including reinvestment of dividends. December 31, 2019 2020 2021 2022 2023 2024 Kinetik Holdings Inc $ 100.00 $ 82.95 $ 118.28 $ 135.91 $ 137.22 $ 251.27 NYSE Composite Index 100.00 144.92 177.06 119.45 172.77 223.87 Nasdaq Composite Index 100.00 106.99 129.11 117.04 133.16 154.19 Alerian US Midstream Energy Index 100.00 75.04 108.82 140.99 168.00 253.24 29 Table of Contents Index to Financial Statements ITEM 6. [RESERVED] 30 Table of Contents Index to Financial Statements