Form 4: ONEOK Director Wayne T. Smith Reports Acquisition of Phantom Stock

Wayne T. Smith, a director at ONEOK Inc, reported the acquisition of phantom stock under the company's Equity Incentive Plan and Deferred Compensation Plan.

Summary

• On May 22, 2024, Wayne T. Smith, a director of ONEOK Inc., reported acquiring 2,082 shares of phantom stock.
• The phantom stock was acquired under the Issuer's Equity Incentive Plan as annual cash and/or stock retainer shares.
• These shares are also accrued under the Issuer's Deferred Compensation Plan for Non-Employee Directors.
• The phantom stock is convertible into ONEOK common stock on a 1-for-1 ratio.
• The price of the derivative security is $81.66.
• Following the transaction, Smith directly owns 3,647 derivative securities.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard compensation practices and alignment of director interests with the company's performance.

Positives

• The acquisition of phantom stock aligns the director's interests with the company's performance.
• The Equity Incentive Plan and Deferred Compensation Plan are designed to reward and retain non-employee directors.

Future Outlook

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

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies to align the interests of directors and shareholders.

Stakeholder Impact

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

Key Dates