Form 4: Director Wayne T. Smith Increases OKE Phantom Stock

Director Wayne T. Smith acquired 1,845 shares of phantom stock in ONEOK, Inc. via the company's deferred compensation plan.

Summary

• Director Wayne T. Smith acquired 1,845 shares of phantom stock.
• The transaction occurred on May 20, 2026.
• The acquisition was made through the Issuer's Deferred Compensation Plan for Non-Employee Directors.
• The phantom stock is convertible into common stock on a 1-for-1 basis.
• Following this transaction, the director holds a total of 8,063 shares of phantom stock.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which is neutral in terms of immediate market impact.

Positives

• Demonstrates director alignment with long-term company performance through deferred compensation participation.
• Reflects confidence in the issuer's equity value at a price of $92.15 per share.

Risks

• Value of phantom stock is subject to the future market performance of ONEOK common stock.
• Liquidity of the investment is restricted until retirement or a designated determination date.

Future Outlook

The phantom stock will be settled in shares of common stock upon the director's retirement or a previously designated date.

Industry Context

StockSavvy.ai notes that director participation in deferred compensation plans is a standard corporate governance practice in the energy sector, signaling long-term commitment to shareholder value.

Comparison to Industry Standards

• The use of phantom stock for director compensation is consistent with standard practices among large-cap energy infrastructure companies.
• The 1-for-1 conversion ratio is standard for deferred compensation plans in the midstream energy industry.

Stakeholder Impact

• Minimal impact on shareholders as this is a standard director compensation deferral.

Next Steps

• Settlement of phantom stock into common stock upon the director's retirement or designated date.

Key Dates

Keywords

ONEOK, OKE, Director, Insider Trading, Phantom Stock, Deferred Compensation