ONEOK (OKE) director defers compensation into 1,845 phantom stock units

Rhea-AI Filing Summary

Smith Wayne Thomas reported acquisition or exercise transactions in this Form 4 filing.

ONEOK director Wayne Thomas Smith received a grant of 1,845 units of Phantom Stock-OKE on issuer common stock. The award is valued at $92.15 per unit and is convertible into ONEOK common stock on a 1-for-1 basis.

The phantom stock was granted as annual cash and/or stock retainer that Smith elected to defer under ONEOK's Deferred Compensation Plan for Non-Employee Directors. After this grant, his phantom stock balance stands at 8,063 units, which will be settled in ONEOK common shares at a determination date or a designated date upon his retirement.

Insights

Insider compensation analyst

Routine deferred compensation grant of phantom stock, not an open-market trade.

Director Wayne Thomas Smith received 1,845 units of Phantom Stock-OKE at an indicated value of $92.15 per unit. This is classified as a grant or award acquisition, not a purchase or sale in the open market.

The award reflects an election to defer annual cash and/or stock retainer into phantom stock under ONEOK's Deferred Compensation Plan for Non-Employee Directors. Settlement will occur in ONEOK common shares at a determination date or at a designated date following Smith's retirement, so the economic effect is long term and tied to his board service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Smith Wayne Thomas

Role null

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock-OKE	1,845	$92.15	$170K

Holdings After Transaction: Phantom Stock-OKE — 8,063 shares (Direct, null)

Footnotes (1)

1. Shares of phantom stock are convertible into Issuer common stock on a 1-for-1 ratio. Annual cash and/or stock retainer elected to be deferred to phantom stock under the Issuer's Deferred Compensation Plan for Non-Employee Directors. Phantom stock is accrued under the Issuer's Deferred Compensation Plan for Non-Employee Directors and is settled in shares of Issuer common stock at the determination date or a designated date upon the reporting person's retirement.

Key Figures

Phantom stock grant: 1,845 units Grant value per unit: $92.15 per unit Total phantom stock after grant: 8,063 units +1 more

4 metrics

Phantom stock grant 1,845 units Grant of Phantom Stock-OKE on May 20, 2026

Grant value per unit $92.15 per unit Transaction price for phantom stock grant

Total phantom stock after grant 8,063 units Phantom stock balance following transaction

Conversion ratio 1:1 to common stock Phantom stock to ONEOK common shares

Key Terms

Phantom stock, Deferred Compensation Plan for Non-Employee Directors, grant, award, or other acquisition

3 terms

Phantom stock financial

"Shares of phantom stock are convertible into Issuer common stock on a 1-for-1 ratio."

A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.

Deferred Compensation Plan for Non-Employee Directors financial

"Deferred to phantom stock under the Issuer's Deferred Compensation Plan for Non-Employee Directors."

grant, award, or other acquisition financial

"Transaction code description: Grant, award, or other acquisition."

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Smith Wayne Thomas

(Last) (First) (Middle)

100 WEST FIFTH STREET

(Street)

TULSA OKLAHOMA 74103

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ONEOK INC /NEW/ [ OKE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock-OKE	(1)	05/20/2026		A(2)		1,845		(3)	(3)	Common Stock, par value $0.01	1,845	$92.15	8,063	D

Explanation of Responses:

1. Shares of phantom stock are convertible into Issuer common stock on a 1-for-1 ratio.

2. Annual cash and/or stock retainer elected to be deferred to phantom stock under the Issuer's Deferred Compensation Plan for Non-Employee Directors.

3. Phantom stock is accrued under the Issuer's Deferred Compensation Plan for Non-Employee Directors and is settled in shares of Issuer common stock at the determination date or a designated date upon the reporting person's retirement.

Remarks:

	/s/ Sarah M. Rechter, Attorney-in-Fact for Wayne T. Smith	05/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did ONEOK (OKE) director Wayne Thomas Smith report in this Form 4?

He reported receiving 1,845 units of Phantom Stock-OKE as a grant. The phantom stock is part of his director compensation and is valued at $92.15 per unit, settling later in ONEOK common shares.

Was the ONEOK (OKE) insider transaction a stock purchase or sale?

No, it was not a market purchase or sale. The Form 4 shows a grant of 1,845 phantom stock units as compensation, classified as a grant or award acquisition rather than an open-market trade in ONEOK shares.

How many phantom stock units does Wayne Thomas Smith hold after this ONEOK (OKE) grant?

After the reported grant, Smith holds a total of 8,063 phantom stock units. These units are convertible into ONEOK common stock on a 1-for-1 basis and are tied to his deferred director compensation.

At what value was the ONEOK (OKE) phantom stock grant to Wayne Thomas Smith recorded?

The 1,845 phantom stock units were recorded at a transaction price of $92.15 per unit. This figure reflects the per-unit value used for the grant under ONEOK’s deferred compensation plan for non-employee directors.

When will Wayne Thomas Smith’s ONEOK (OKE) phantom stock be settled into common shares?

The phantom stock will be settled in ONEOK common shares at a determination date or at a designated date upon Smith’s retirement. This structure defers his compensation and aligns settlement with his board service timeline.

What plan governs the ONEOK (OKE) phantom stock granted to Wayne Thomas Smith?

The phantom stock is accrued under ONEOK’s Deferred Compensation Plan for Non-Employee Directors. Annual cash and/or stock retainers can be deferred into phantom stock, which later converts into ONEOK common shares on specified dates.