Item 5. Market for Registrant’s Common Equity
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 20, 2026, the Class A Common Stock had a closing price of $45.56.
Holders
On February 20, 2026, there were 138 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
The following table sets forth information with respect to repurchases made by the Company of its Class A Common Stock in the open market or in privately negotiated transactions under the $500.0 million Repurchase Program during the fourth quarter of 2025:
Period Total Number of Shares Purchased (1)
Average Price per Share (2)
Total Number of Shares Purchased as Part of Publicly Announced Plan (1)
Maximum number (or approximate dollar value) of Shares that May Yet be Purchased under the Plans (in thousands) (1)
October 1 to October 31, 2025
91,252 $ 37.82 91,252 $ 318,238
November 1 to November 30, 2025
— $ — — $ 318,238
December 1 to December 31, 2025
— $ — — $ 318,238
(1) In February 2023, our Board approved the Stock Repurchase Program (“Repurchase Program”) for the repurchase of up to $100.0 million of our outstanding Class A Common Stock. In May 2025, our Board approved a $400.0 million increase to the previously announced Repurchase Program, pursuant to which we are authorized to repurchase the Company’s Class A Common Stock for an aggregate purchase price of up to $500.0 million. Repurchases may be made at management’s discretion from time to time, in accordance with applicable securities laws, on the open market or through privately negotiated transactions and may be made pursuant to a trading plan meeting the requirements of Rule 10b5-1 under the Exchange Act.
(2) Average price paid per share includes commission to repurchase shares.
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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, 2020 and ending on December 31, 2025. 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 12/31/2020 in index, including reinvestment of dividends.
December 31,
2020 2021 2022 2023 2024 2025
Kinetik Holdings Inc
$ 100.00 $ 142.60 $ 163.84 $ 165.43 $ 302.91 $ 206.14
NYSE Composite Index 100.00 122.18 82.43 119.22 154.48 187.14
NASDAQ Composite Index 100.00 120.68 109.39 124.46 144.12 169.62
Alerian US Midstream Energy Index 100.00 145.02 187.88 223.87 337.47 346.67
ITEM 6. [RESERVED]
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Index to Financial Statements