Alan S. Armstrong - Feb 23, 2023 Form 4 Insider Report for WILLIAMS COMPANIES, INC. (WMB)

Role
President & CEO, Director
Signature
Cheryl L. Mahon, Attorney-in-Fact
Stock symbol
WMB
Transactions as of
Feb 23, 2023
Transactions value $
-$5,578,916
Form type
4
Date filed
2/27/2023, 07:18 PM
Previous filing
Feb 23, 2023
Next filing
Mar 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction WMB Common Stock Award $4M +129K +8.07% $31.05 1.73M Feb 23, 2023 Direct F1
transaction WMB Common Stock Options Exercise $17.3M +554K +32.12% $31.18 2.28M Feb 24, 2023 Direct F2
transaction WMB Common Stock Tax liability -$7.62M -244K -10.72% $31.18 2.03M Feb 24, 2023 Direct F3
transaction WMB Common Stock Tax liability -$1.96M -62.8K -3.09% $31.18 1.97M Feb 24, 2023 Direct F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction WMB Restricted Stock Units Award $0 +187K +18.98% $0.00 1.17M Feb 23, 2023 Common Stock 187K $0.00 Direct F5
transaction WMB Restricted Stock Units Options Exercise -$17.3M -554K -47.36% $31.18 616K Feb 24, 2023 Common Stock 554K $0.00 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 Payout in shares of common stock of RSUs awarded pursuant to a 2020 performance-based RSU grant agreement between the Reporting Person and the Issuer and including an adjustment for performance at greater than target as certified by the Issuer's Compensation and Management Development Committee.
F3 A portion of the RSUs in footnote (2) above were withheld for taxes.
F4 A portion of a 2020 grant of time-based RSUs previously reported on an as-owned basis in Table I were withheld for taxes.
F5 Vesting is subject to applicable grant agreement and Compensation and Management Development Committee certification that the Company has met applicable performance requirements. Return on capital employed and available funds from operations per share are each weighted at 50 percent and are measured against predetermined targets. Additionally, relative total shareholder return is used as a performance modifier potentially increasing or decreasing the calculated result by up to 25%. The final potential payout will range 0 percent to 200 percent of the awarded number of units.