Form 4: ONEOK Executive Receives Stock Award and Withholds Shares for Taxes

ONEOK Inc.'s Executive Vice President and Chief Legal Officer, Lyndon C. Taylor, reported the acquisition of 14 shares of common stock through an employee award program and the disposition of 7 shares for tax withholding.

Summary

• Lyndon C. Taylor, Executive Vice President and Chief Legal Officer of ONEOK Inc. (OKE), reported transactions involving the company's common stock.
• On June 13, 2025, Mr. Taylor acquired 14 shares of ONEOK common stock, par value $0.01, at a price of $83.75 per share.
• This acquisition was part of the ONEOK, Inc. 2025 Employee Stock Award Program (2025 ESAP).
• The 14 shares were awarded based on the attainment of 14 share price milestones between November 7, 2024, and November 22, 2024, for which no shares were awarded under the prior employee stock award program due to insufficient shares.
• Following the acquisition, Mr. Taylor disposed of 7 shares of ONEOK common stock on the same date, June 13, 2025, at $83.75 per share.
• These 7 shares were withheld by the Issuer to satisfy withholding taxes due in connection with the issuance of the 14 shares.
• After these reported transactions, Mr. Taylor directly beneficially owns 346.862 shares of ONEOK common stock.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it reflects a routine executive compensation event, aligning management's interests with shareholders through stock awards, which is generally viewed favorably for corporate governance and retention.

Positives

• The issuance of shares under the 2025 Employee Stock Award Program indicates the company's commitment to incentivizing and retaining key executives.
• The award is tied to the attainment of share price milestones, aligning executive compensation with shareholder value creation.

Future Outlook

This Form 4 filing primarily reports past and current insider transactions and does not contain forward-looking statements or guidance regarding the company's future performance or strategic direction.

Management Comments

• The Board of Directors approved discretionary awards to eligible employees under the 2025 ESAP following shareholder approval, indicating a commitment to employee incentives.

Industry Context

The reporting of executive stock awards and subsequent tax withholdings via Form 4 is a standard and routine practice across all publicly traded companies in the U.S., reflecting common executive compensation structures and regulatory compliance requirements.

Comparison to Industry Standards

• The use of employee stock award programs (ESAPs) tied to performance milestones is a common and widely accepted practice for executive compensation across various industries, including the energy sector where ONEOK operates.
• The withholding of shares to cover tax obligations upon the vesting or issuance of equity awards is a standard and legally required procedure for companies and their executives, consistent with practices observed in comparable companies.

Corporate Governance

Stakeholder Impact

• Shareholders: The issuance of new shares for compensation may result in minor dilution, but the program aims to align executive incentives with shareholder value creation.
• Employees (specifically eligible executives): Directly benefits the reporting person and other eligible employees through equity compensation, fostering retention and performance.

Key Dates

Keywords

ONEOK, OKE, SEC Form 4, Insider Transaction, Executive Compensation, Stock Award Program, Employee Stock Award, Lyndon C. Taylor, Common Stock