Form 4: ONEOK CFO Walter Hulse III Reports Stock Award and Tax-Related Share Transactions

ONEOK's Chief Financial Officer, Walter S. Hulse III, reported the acquisition of 14 shares under an employee stock award program and the disposition of 7 shares for tax withholding purposes.

Summary

• Walter S. Hulse III, Chief Financial Officer, Treasurer, and Executive Vice President, Investor Relations and Corporate Development of ONEOK Inc. (OKE), reported changes in his beneficial ownership.
• On June 13, 2025, Mr. Hulse acquired 14 shares of ONEOK common stock at a price of $83.75 per share.
• This acquisition was part of the ONEOK, Inc. 2025 Employee Stock Award Program (2025 ESAP), issued for attaining 14 share price milestones between November 7, 2024, and November 22, 2024.
• Concurrently, 7 shares of ONEOK common stock were disposed of at $83.75 per share to satisfy withholding taxes due in connection with the issuance.
• Following these transactions, Mr. Hulse directly beneficially owns 164,700.0571 shares of common stock.
• Additionally, he indirectly owns 25,000 shares through the Hulse 2006 Rev Trust.

Sentiment

Score: 5

Explanation: The document is a routine Form 4 filing reporting an insider's stock award and tax-related disposition. It contains no positive or negative news beyond the standard reporting of such transactions, hence a neutral score.

Positives

• The issuance of shares under the 2025 Employee Stock Award Program indicates the company's commitment to employee incentives and performance-based compensation.
• The award was triggered by the attainment of 14 share price milestones between November 7, 2024, and November 22, 2024, suggesting positive stock performance during that period.

Negatives

• The disposition of 7 shares was solely for tax withholding purposes, which is a standard procedure and not indicative of a negative outlook.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future performance, as its purpose is to report insider transactions.

Management Comments

• "The reporting person was issued 14 shares of the Issuer's common stock (the Issuance) pursuant to the ONEOK, Inc. 2025 Employee Stock Award Program (2025 ESAP)."
• "Following shareholder approval of the 2025 ESAP at the Issuer's 2025 Annual Meeting of Shareholders, the Issuer's Board of Directors approved discretionary awards to eligible employees of one share for each of the 14 share price milestones attained between November 7, 2024 and November 22, 2024, for which no shares were awarded under Issuer's prior employee stock award program due to insufficient shares."
• "Reflects shares of Issuer's common stock withheld to satisfy withholding taxes due in connection with the Issuance."

Industry Context

This Form 4 filing is a routine disclosure of an insider stock transaction and does not provide broader industry context or trends. It reflects standard executive compensation practices within the energy infrastructure sector, where performance-based stock awards are common.

Corporate Governance

Stakeholder Impact

• Shareholders: The issuance of shares under an employee stock award program is a common practice that aligns executive interests with shareholder value, as awards are tied to share price milestones. The disposition for tax purposes is a standard, non-dilutive event.
• Employees: The 2025 Employee Stock Award Program provides incentives for eligible employees, including executives, based on company performance.

Next Steps

• No specific future actions or milestones are mentioned in this Form 4 filing beyond the reported transactions.

Key Dates

Keywords

ONEOK, OKE, Form 4, Insider Trading, Beneficial Ownership, Stock Award, Employee Stock Award Program, Executive Compensation, Walter S. Hulse III, CFO, Share Disposition, Tax Withholding