Scott D. Schingen - Feb 19, 2024 Form 4 Insider Report for ONEOK INC /NEW/ (OKE)

Signature
By: Pat Cipolla, Attorney-in-Fact For: Scott D. Schingen
Stock symbol
OKE
Transactions as of
Feb 19, 2024
Transactions value $
$542,669
Form type
4
Date filed
2/21/2024, 09:54 PM
Previous filing
Feb 23, 2024
Next filing
Mar 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction OKE Common Stock, par value $.0.01 Award $982K +13.6K +28.96% $71.99 60.7K Feb 19, 2024 Direct
transaction OKE Common Stock, par value $.0.01 Tax liability -$439K -6.1K -10.04% $71.99 54.6K Feb 19, 2024 Direct
holding OKE Common Stock, par value $.0.01 1.2K Feb 19, 2024 IRA

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 OKE PSU 2021 Award $0 -15.5K -100% $0.00* 0 Feb 19, 2024 Common Stock, par value $.0.01 15.5K Direct F1, F2
transaction OKE RSU 2021 Award $0 -3.91K -100% $0.00* 0 Feb 19, 2024 Common Stock, par value $.0.01 3.91K Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reporting person retired from the board on May 13, 2015, and a portion of phantom stock that had accrued under the Issuer's Deferred Compensation Plan for Non-Employee Directors was converted and shares of Issuer's common stock were issued to the reporting person upon retirement from the board. The shares issued were based on the reporting person's annual elections under the Issuer's Deferred Compensation Plan for Non-Employee Directors.
F2 Performance units awarded under the Issuer's Equity Incentive Plan. The award vested on February 17, 2024, for 88% of the performance units awarded based upon the Issuer's total shareholder return compared to total shareholder return of a selected peer group. During the 3-year vesting period, the award was credited with dividend equivalents that were paid out in shares of common stock at the time the underlying units vested and shares were issued. The award and credited dividend equivalents were payable one share of the Issuer's common stock for each vested performance unit including additional performance units resulting from dividend equivalents.
F3 Restricted units awarded under the Issuer's Equity Compensation Plan. The award vested on January 1, 2012. Restricted units were payable one share of the Issuer's common stock for each vested performance unit. The reporting person elected to defer receipt of the 300,000 shares of the Issuer's common stock to which the reporting person was entitled upon vesting and which were reported as phantom stock in Table II. Of the 300,000 shares, the reporting person surrendered 4,457 shares to cover taxes applicable to the vesting, resulting in the deferral of the 295,543 net shares remaining. Each share of the phantom stock is the economic equivalent of one share of the Issuer's common stock. Since January 1, 2012, the award earned 37,317 in dividend equivalents, for a total of 332,860 shares of which 149,289 shares were surrendered to pay taxes, resulting in 183,571 shares issued to the reporting person.
F4 Restricted units awarded under Issuer's Equity Incentive Plan. The award vests on February 17, 2024. During the 3-year vesting period, the award will be credited with dividend equivalents that will be paid out in shares of common stock at the time the underlying units vest and are issued. The award and credited dividend equivalents will be payable one share of the Issuer's common stock for each vested restricted unit, including additional restricted units resulting from dividend equivalents.