Form 4: ONEOK Director Gerald B. Smith Increases Stake Through Deferred Compensation Plan

ONEOK Director Gerald B. Smith acquired 2,095 shares of phantom stock on May 23, 2025, as part of the company's Deferred Compensation Plan for Non-Employee Directors, increasing his total beneficial ownership to 14,745 shares.

Summary

• Gerald B. Smith, a Director of ONEOK INC /NEW/ (OKE), acquired 2,095 shares of phantom stock.
• The transaction occurred on May 23, 2025.
• The phantom stock was acquired at a price of $81.14 per share.
• This acquisition was a result of an annual cash and/or stock retainer elected to be deferred under the Issuer's Deferred Compensation Plan for Non-Employee Directors.
• Each phantom stock share is convertible into one share of ONEOK common stock.
• Following this transaction, Mr. Smith beneficially owns 14,745 shares of phantom stock directly.

Sentiment

Score: 7

Explanation: The sentiment is positive as a director is increasing their beneficial ownership in the company, indicating confidence. While it's a routine deferred compensation transaction, it still aligns the director's interests with long-term shareholder value.

Positives

• Director Gerald B. Smith increased his beneficial ownership in ONEOK by acquiring 2,095 shares of phantom stock.
• The acquisition through a deferred compensation plan indicates a long-term commitment and alignment of interests between the director and shareholders.

Negatives

• None identified in the filing.

Risks

• No specific risks are detailed in this Form 4 filing, which primarily reports insider transactions.

Future Outlook

This Form 4 filing primarily reports an insider transaction and does not provide forward-looking statements or guidance on the company's future outlook.

Management Comments

• This Form 4 filing does not contain direct quotes or paraphrased statements from company management, as it is a regulatory disclosure of an insider transaction.

Industry Context

ONEOK operates in the midstream energy sector, primarily involved in natural gas gathering, processing, storage, and transportation, and natural gas liquids (NGL) transportation and fractionation. An insider acquisition, even through a deferred compensation plan, can be viewed positively as it signals confidence from a director in the company's long-term prospects within the energy infrastructure industry.

Comparison to Industry Standards

• Insider stock acquisitions through deferred compensation plans are a common practice across various industries, including the energy sector, for aligning executive and director interests with shareholder value. Specific comparable companies or projects are not relevant for this type of filing.

Related Party Transactions

• The acquisition of phantom stock by Director Gerald B. Smith under the Issuer's Deferred Compensation Plan for Non-Employee Directors represents a transaction between a related party (director) and the company, which is a standard component of director compensation.

Stakeholder Impact

• Shareholders: The increase in director ownership through deferred compensation can be viewed positively, as it aligns the director's financial interests with the long-term performance of the company and shareholder value.

Next Steps

• No specific future actions or milestones are mentioned in this Form 4 filing, which is a historical report of a transaction.

Key Dates

Keywords

ONEOK, OKE, Form 4, Insider Transaction, Director Stock Acquisition, Phantom Stock, Deferred Compensation, Energy Infrastructure, Midstream