Form 4: ONEOK Executive Randy Lentz Reports Stock Award and Tax Withholding

Randy N. Lentz, Executive Vice President and Chief Operating Officer of ONEOK Inc., reported the acquisition of 14 shares and the disposition of 4 shares for tax withholding purposes under the company's 2025 Employee Stock Award Program.

Summary

• Randy N. Lentz, Executive Vice President and Chief Operating Officer of ONEOK Inc. (OKE), reported transactions involving the company's common stock.
• On June 13, 2025, Mr. Lentz acquired 14 shares of ONEOK common stock, par value $0.01, at a price of $83.75 per share.
• These shares were issued pursuant to the ONEOK, Inc. 2025 Employee Stock Award Program (2025 ESAP).
• The issuance was a discretionary award approved by the Issuer's Board of Directors, following shareholder approval of the 2025 ESAP at the 2025 Annual Meeting of Shareholders.
• The award was based on the attainment of 14 share price milestones between November 7, 2024, and November 22, 2024, for which no shares were awarded under a prior program due to insufficient shares.
• Concurrently, 4 shares of ONEOK common stock were disposed of at $83.75 per share to satisfy withholding taxes related to the issuance.
• Following these transactions, Mr. Lentz beneficially owns 10 shares of ONEOK common stock.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it reflects an executive receiving compensation tied to company performance (share price milestones), indicating a positive incentive structure. The tax withholding is a neutral, standard procedure.

Positives

• The company's 2025 Employee Stock Award Program (ESAP) demonstrates a commitment to employee incentives and retention.
• The award was triggered by the attainment of 14 share price milestones, indicating positive stock performance during the specified period (November 7, 2024, and November 22, 2024).

Negatives

• A portion of the awarded shares (4 out of 14) were immediately withheld to cover tax obligations, reducing the net shares received by the executive.

Future Outlook

The document does not contain specific forward-looking statements or guidance beyond the details of the stock award program.

Management Comments

• Randy N. Lentz is identified as Executive Vice President and Chief Operating Officer.

Industry Context

This Form 4 filing details an executive's compensation-related stock transaction, which is a routine disclosure for publicly traded companies. It does not provide broader industry trends or competitive analysis.

Corporate Governance

Related Party Transactions

• The issuance of 14 shares to Randy N. Lentz, an Executive Vice President and Chief Operating Officer, under the 2025 Employee Stock Award Program, constitutes a related party transaction as it involves compensation to a key management personnel.

Stakeholder Impact

• **Shareholders**: The issuance of shares under the ESAP could lead to minor dilution, but also aligns executive incentives with shareholder value creation, especially given the share price milestones.
• **Employees**: The 2025 ESAP provides a mechanism for equity-based compensation, potentially enhancing employee retention and motivation, particularly for eligible employees who receive such awards.

Next Steps

• The 2025 ESAP was approved by shareholders at the 2025 Annual Meeting, and discretionary awards were approved by the Board of Directors.

Key Dates

Keywords

ONEOK, OKE, SEC Form 4, Insider Transaction, Stock Award, Employee Stock Award Program, Executive Compensation, Randy N. Lentz, Common Stock, Share Price Milestones, Tax Withholding