Form 4: ONEOK Executive Lyndon C. Taylor Acquires Share Through Employee Stock Award Program

ONEOK's Executive Vice President and Chief Legal Officer, Lyndon C. Taylor, acquired one share of common stock through the company's Employee Stock Award Program (ESAP).

Summary

• Lyndon C. Taylor, Executive Vice President and Chief Legal Officer at ONEOK Inc., acquired one share of common stock on November 7, 2024.
• The acquisition was made through ONEOK's Employee Stock Award Program (ESAP).
• The share was acquired at a price of $104.14.
• 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 at the 2025 annual shareholder meeting, which typically takes place in May.
• The official meeting date will be set and communicated in the future.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction within an established employee program. The pause in the program is a minor negative, but the expectation of resumption tempers any significant concern.

Positives

• The Employee Stock Award Program incentivizes employees by awarding company stock.
• The program's success has led to the full allocation of currently authorized shares.

Negatives

• The ESAP program is currently paused, which may temporarily affect employee morale or compensation plans.

Risks

• Shareholder approval for additional shares is required for the ESAP to resume.
• There is a risk that shareholders may not approve the request for additional shares, which would prevent the program from resuming.

Future Outlook

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

Industry Context

Employee stock award programs are a common practice in publicly traded companies to align employee interests with those of shareholders and incentivize performance.

Comparison to Industry Standards

• Employee stock award programs are widely used across various industries, including energy companies like ONEOK.
• Companies such as Kinder Morgan, Enbridge, and Williams Companies also utilize similar equity-based compensation plans to attract and retain talent.

Stakeholder Impact

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

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 to be allocated to the ESAP.

Key Dates