Form 4: EnLink Midstream Director Tiffany Thom Cepak Reports Share Conversion Following Merger

Director Tiffany Thom Cepak reports the conversion of her EnLink Midstream common units into ONEOK common stock following the merger on January 31, 2025.

Summary

• Tiffany Thom Cepak, a director at EnLink Midstream, reported a transaction on January 31, 2025, related to the merger between EnLink and ONEOK.
• As a result of the merger, her 35,556 common units in EnLink were converted into the right to receive ONEOK common stock.
• The conversion rate was 0.1412 shares of ONEOK stock for each EnLink common unit.
• The closing price of ONEOK common stock on January 31, 2025, was $97.17 per share.

Sentiment

Score: 7

Explanation: The document is a routine filing related to a previously announced merger, indicating a neutral to slightly positive sentiment as the merger has been completed.

Industry Context

This filing reflects the completion of the merger between EnLink Midstream and ONEOK, a significant consolidation in the midstream energy sector.

Comparison to Industry Standards

• Mergers and acquisitions are common in the midstream energy sector as companies seek to expand their infrastructure and market reach.
• The conversion of EnLink units to ONEOK stock is a standard procedure following a merger of this type.
• Other similar midstream mergers have involved similar stock conversion ratios and procedures.

Stakeholder Impact

• Shareholders of EnLink Midstream have had their holdings converted to ONEOK stock.
• This merger is expected to create a larger, more diversified midstream company.

Key Dates

Keywords

Merger, EnLink Midstream, ONEOK, Share Conversion, Director Transaction, Form 4, Midstream