Form 4: ONEOK Executive Receives Stock Award, Shares Withheld for Taxes

Sheridan C. Swords, Executive Vice President and Chief Commercial Officer of ONEOK Inc., acquired 14 shares of common stock through an employee award program, with 7 shares subsequently withheld for tax obligations.

Summary

• Sheridan C. Swords, an Executive Vice President and Chief Commercial Officer at ONEOK Inc. (OKE), acquired 14 shares of the company's common stock on June 13, 2025.
• The acquisition was part of the ONEOK, Inc. 2025 Employee Stock Award Program (2025 ESAP).
• These shares were awarded following shareholder approval of the 2025 ESAP and subsequent Board of Directors' approval for discretionary awards.
• The awards were based on the attainment of 14 share price milestones between November 7, 2024, and November 22, 2024.
• Concurrently, 7 shares of common stock were disposed of on the same date to satisfy withholding taxes related to the issuance.
• The transaction price for both the acquisition and disposition was $83.75 per share.
• Following these transactions, Sheridan C. Swords directly beneficially owns 233,094.4908 shares of ONEOK common stock.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as it indicates executive compensation tied to performance and shareholder approval of an equity program, which aligns executive interests with shareholders. The tax withholding is a standard, neutral event.

Positives

• The reporting person received 14 shares of common stock through an employee stock award program, indicating continued alignment of executive interests with shareholder value.
• The award program (2025 ESAP) was approved by shareholders, reflecting good corporate governance.
• The awards were tied to the attainment of 14 share price milestones, suggesting performance-based compensation.

Negatives

• 7 shares were withheld to cover tax obligations, reducing the net shares received by the executive.

Future Outlook

NA

Industry Context

This Form 4 filing reflects a routine insider transaction related to executive compensation, common across publicly traded companies in various industries, including the energy infrastructure sector where ONEOK operates. It does not provide broader industry trends or competitive insights.

Corporate Governance

Stakeholder Impact

• Shareholders: The issuance of shares under an approved employee stock award program aligns executive incentives with shareholder value, potentially benefiting long-term share price performance. The tax withholding is a standard administrative process with minimal direct impact on shareholders.
• Employees: The 2025 ESAP provides equity compensation to eligible employees, which can enhance retention and motivation.

Key Dates

Recommendation

Keywords

ONEOK, OKE, SEC Form 4, Insider Trading, Stock Award, Employee Stock Award Program, Executive Compensation, Shareholder Approval, Common Stock, Tax Withholding