Form 4: ONEOK Executive Randy N. Lentz Reports Acquisition of Restricted Stock Units

ONEOK's Executive Vice President and Chief Operating Officer, Randy N. Lentz, reports the acquisition of 18,524 restricted stock units (RSUs) under the company's Equity Incentive Plan.

Summary

• Randy N. Lentz, Executive Vice President and Chief Operating Officer of ONEOK Inc., filed a Form 4 with the SEC.
• The filing reports the acquisition of 18,524 restricted stock units (RSUs) on February 1, 2025.
• These RSUs were awarded under ONEOK's Equity Incentive Plan in connection with Lentz's appointment as Executive Vice President and Chief Operating Officer.
• One-third of the award will vest on February 1, 2026, and the remaining two-thirds will vest on February 1, 2027.
• During the vesting period, the award will accrue dividend equivalents, payable in shares of common stock upon vesting.
• Each vested restricted unit, including those from dividend equivalents, will be payable as one share of ONEOK's common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

• The RSU grant aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.
• Dividend equivalents provide additional value to the RSU award.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's financial performance or future prospects.

Industry Context

This type of equity compensation is common in the energy industry to incentivize executives and align their interests with shareholders. RSU grants are a standard component of executive compensation packages in publicly traded companies like ONEOK.

Comparison to Industry Standards

• RSU grants are a common form of executive compensation across the energy sector.
• Companies like Kinder Morgan, Enbridge, and Williams Companies also utilize RSUs as part of their executive compensation packages.
• The vesting schedules and dividend equivalent provisions are generally in line with industry practices.

Stakeholder Impact

• The RSU grant aligns executive interests with shareholder value.
• Employees may view the grant as a positive sign of the company's commitment to its leadership.

Key Dates

Keywords

ONEOK, Randy N. Lentz, Restricted Stock Units, RSU, Equity Incentive Plan, Form 4, SEC, Executive Compensation, Vesting, Dividend Equivalents