Form 4: ONEOK Director Pattye L. Moore Reports Acquisition of Phantom Stock

Director Pattye L. Moore reports acquiring phantom stock in ONEOK Inc. through a deferred compensation plan.

Summary

• Pattye L. Moore, a director of ONEOK Inc., filed a Form 4 to report changes in beneficial ownership.
• The report indicates that Ms. Moore acquired phantom stock under the Issuer's Deferred Compensation Plan for Non-Employee Directors on May 22, 2024.
• She acquired 2,082 shares of phantom stock, convertible into ONEOK common stock on a 1-for-1 basis.
• The phantom stock was accrued as part of her annual cash and/or stock retainer, which she elected to defer.
• Following the transaction, Ms. Moore beneficially owns 191,552 derivative securities.
• The price of the derivative security is $81.66.
• The phantom stock will be settled in shares of ONEOK common stock upon her retirement or at a designated date.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a director's continued investment in the company through a standard compensation mechanism.

Positives

• The acquisition of phantom stock reflects Ms. Moore's continued investment in ONEOK's future.
• The deferred compensation plan allows directors to align their interests with the long-term performance of the company.

Future Outlook

The phantom stock will be settled in shares of ONEOK common stock at the determination date or a designated date upon the reporting person's retirement.

Industry Context

Directors often receive stock-based compensation to align their interests with shareholders. Deferred compensation plans are a common way to provide this.

Comparison to Industry Standards

• Deferred compensation plans for non-employee directors are a common practice among publicly traded companies, including those in the energy sector like ONEOK.
• Companies such as Kinder Morgan and Williams Companies also utilize similar compensation structures to incentivize their directors.
• The specific terms and amounts of deferred compensation can vary widely based on company size, performance, and individual director contributions.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns the director's interests with the company's long-term success.

Key Dates