[Form 4] Williams Companies Inc. Insider Trading Activity

Rhea-AI Filing Summary

Form 4 snapshot: On 07/09/2025, Williams Companies (WMB) Senior Vice President Todd J. Rinke reported the receipt of new equity awards.

• Common-stock award: 6,050 shares granted (transaction code “A”) at a reference value of $57.85.
• Derivative grant: 5,643 restricted stock units (RSUs) awarded. Time-based units convert 1-for-1 into common stock; performance-based units vest after a three-year performance period with a 0-200 % payout range and expire 07/09/2028.
• Post-grant ownership: 22,233 directly held common shares and 5,643 RSUs.

No shares were sold and the filing reflects routine executive compensation, not an open-market purchase. The larger share position modestly strengthens management–shareholder alignment but has limited immediate financial impact on WMB.

Insights

Corporate Governance Analyst

TL;DR: Routine equity awards; boosts insider stake but not a market-moving event.

The award of 6,050 shares and 5,643 RSUs to SVP Todd Rinke is standard compensation practice approved by the Compensation & Management Development Committee. Because the transaction was coded “A,” no cash changed hands, distinguishing it from open-market buying that often signals valuation conviction. Direct ownership now totals 22,233 shares, improving pay-for-performance alignment, yet the absolute stake remains small relative to WMB's ~1.2 bn shares outstanding. Governance risk is unchanged and there are no red flags such as discretionary option repricing or accelerated vesting.

Portfolio Manager

TL;DR: Small positive—executive ownership rises; negligible effect on valuation.

Although the grant represents <1 bp of the float, insider ownership increases are directionally shareholder-friendly. RSU structure (0–200 % payout) ties rewards to multi-year EBITDA and cash-flow metrics, encouraging long-term value creation. Lack of open-market buying tempers the signal, so I view the filing as mildly constructive but not thesis-changing.

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^*

Rinke Todd J.

(Last) (First) (Middle)

ONE WILLIAMS CENTER

(Street)

TULSA OK 74172

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
WILLIAMS COMPANIES, INC. [ WMB ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/09/2025

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
Common Stock(1)	07/09/2025	07/09/2025	A		6,050	A	$57.85	22,233	D

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
Restricted Stock Units(2)	$0	07/09/2025	07/09/2025	A		5,643		07/09/2028	07/09/2028	Common Stock	5,643	$57.85	5,643	D

Explanation of Responses:

1. Time-based restricted stock units convert into common stock on a one-for-one basis.

2. Performance-based restricted stock units. Vesting is subject to applicable grant agreement and Compensation and Management Development Committee certification that the Company has met the applicable three year performance measures for certain financial metrics not solely tied to the market price of issuer securities. The payout will range from 0 percent to 200 percent of the awarded number of units.

Remarks:

	Cheryl L. Mahon, Attorney-in-fact	07/11/2025
	** 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 Williams Companies (WMB) shares did Todd J. Rinke acquire?

He was granted 6,050 common shares on 07/09/2025.

What derivative securities were granted to the WMB executive?

Rinke received 5,643 restricted stock units that can convert into common stock.

What is Todd Rinke’s total direct ownership after the transaction?

He now directly owns 22,233 common shares plus 5,643 RSUs.

When do the newly issued RSUs for WMB expire?

The RSUs have an expiration date of 07/09/2028.

Was this an open-market purchase of WMB stock?

No. It was a code “A” award, meaning it was granted as compensation, not bought on the market.