Form 4: ONEOK Executive Acquires Share Through Employee Stock Award Program

Sheridan C. Swords, an Executive Vice President at ONEOK, acquired one share of common stock through the company's Employee Stock Award Program (ESAP).

Summary

• On November 7, 2024, Sheridan C. Swords, an Executive Vice President at ONEOK Inc., acquired one share of common stock at a price of $104.14.
• The acquisition was made through ONEOK's Employee Stock Award Program (ESAP).
• The ESAP program is currently paused as the current allocation of shares has been fully awarded.
• The program will resume upon shareholder approval of additional shares, expected after the 2025 annual shareholder meeting, which typically takes place in May.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reflects a routine transaction within an existing employee program. The pause in the program is slightly negative, but the expectation of resumption tempers the concern.

Positives

• The Employee Stock Award Program incentivizes employees by awarding company stock based on achieving certain milestones, in this case ONEOK achieving the $103 milestone.
• The executive's participation in the ESAP demonstrates confidence in the company's future.

Risks

• The ESAP program is currently paused and will not resume until shareholder approval is obtained at the 2025 annual meeting.
• There is a risk that shareholders may not approve the request for additional shares, which would prevent the ESAP from resuming.

Future Outlook

The ESAP program is expected to resume upon shareholder approval of additional shares at the 2025 annual shareholder meeting.

Industry Context

Executive stock ownership is a common practice in the energy industry to align management's interests with those of shareholders.

Stakeholder Impact

• Shareholders may be impacted by the potential dilution of shares if additional shares are approved for the ESAP.
• Employees are impacted by the pause in the ESAP program until additional shares are approved.

Next Steps

• ONEOK will set and communicate the official date for the 2025 annual shareholder meeting.
• Shareholders will vote on the request for additional shares for the ESAP at the annual meeting.

Key Dates