[Form 4] ONEOK INC /NEW/ Insider Trading Activity

Rhea-AI Filing Summary

ONEOK (OKE) reported a Form 4 showing Kevin L. Burdick, Executive Vice President and Chief Enterprise Services Officer, received 13,774 restricted stock units on 09/23/2025 under the RSU 2025-S award. The award vests in three tranches: 20% on 09/23/2026, 30% on 09/23/2027, and 50% on 09/23/2028. Dividend equivalents will be credited during the vesting period and paid in shares when units vest. Following the grant, Burdick directly beneficially owns 13,774 common shares attributable to these units. The Form 4 was signed by an attorney-in-fact on behalf of Burdick on 09/25/2025.

Positive

• Transparent disclosure of grant amount, vesting schedule, and dividend equivalent treatment
• Time-based vesting (20%/30%/50%) aligns executive incentives with multi-year performance and retention

Negative

• None.

Insights

Financial Analyst

TL;DR: A routine executive equity award of 13,774 RSUs with multi-year vesting, dilutive only upon vesting, signaling standard long-term incentive alignment.

The RSU grant to an executive is typical compensation aligning management with shareholder outcomes. The total of 13,774 shares is modest relative to large-cap outstanding share counts and will only dilute if and when units vest and convert to shares. The structured vesting over three years with dividend equivalents paid in stock encourages retention and ties value to future share performance. No cash exercise or purchase price applies per the filing. This disclosure does not present immediate material financial impact for investors.

Corporate Governance Expert

TL;DR: Governance-wise this is a standard time-based RSU award with dividend equivalents; disclosure and vesting schedule are clearly described.

The filing documents a standard equity-based retention mechanism for an executive officer. Vesting percentages and dates are explicitly stated, and dividend equivalents converting to additional units are disclosed, which modestly increases future share issuance upon vesting. The Form 4 is properly executed by an attorney-in-fact. There are no unusual acceleration clauses or related-party transactions disclosed in this filing.

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).

1. Name and Address of Reporting Person^*

BURDICK KEVIN L

(Last) (First) (Middle)

100 WEST FIFTH STREET

(Street)

TULSA OK 74103

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2025

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

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

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

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
RSU 2025-S	(1)	09/23/2025		A		13,774		(1)	(1)	Common Stock, par value $0.01	13,774	(1)	13,774	D

Explanation of Responses:

1. Restricted units awarded under the Issuer's Equity Incentive Plan. Twenty percent of the award will vest on 9/23/2026, thirty percent of the award will vest on 9/23/2027, and fifty percent of the award will vest on 9/23/2028. During the 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 with one share of the Issuer's common stock for each vested restricted unit, including additional restricted units resulting from dividend equivalents.

Remarks:

Executive Vice President and Chief Enterprise Services Officer

	/s/ Patrick W. Cipolla, Attorney-in-Fact for Kevin L. Burdick	09/25/2025
	** 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.

FAQ

How many RSUs did Kevin L. Burdick receive in the Form 4 for OKE?

He was awarded 13,774 restricted stock units under the RSU 2025-S grant.

What is the vesting schedule for the 13,774 RSUs

Vesting is 20% on 09/23/2026, 30% on 09/23/2027, and 50% on 09/23/2028.

Will dividend equivalents be paid on these RSUs for OKE?

Yes. Dividend equivalents will be credited during vesting and paid in shares of common stock when units vest.

How many shares does Burdick beneficially own following this transaction?

The Form 4 reports 13,774 shares beneficially owned attributable to the awarded restricted units.

Was a purchase price paid for these RSUs according to the filing?

No purchase price or cash exercise price is disclosed for the RSU award in this Form 4.