[Form 4] Williams Companies Inc. Insider Trading Activity

Rhea-AI Filing Summary

Williams Companies (WMB) – Form 4 insider filing: President & CEO Chad J. Zamarin reported two equity transactions dated 07/01/2025.

• Common stock acquisition: 17,030 shares were awarded (transaction code A) at a reference price of $58.72, lifting Zamarin’s direct ownership to 659,291 shares.
• Performance-based RSU grant: 23,607 restricted stock units (RSUs) were granted. These RSUs vest on 07/01/2028 subject to three-year performance metrics, with a payout scale of 0-200% of target.

The filing signals continued equity-based compensation and increased share exposure for the company’s top executive, further aligning management incentives with shareholder interests. No shares were sold in the reported period.

Positive

• Increased insider ownership: CEO’s direct stake rises by 17,030 shares, enhancing management–shareholder alignment.
• Long-term performance incentives: 23,607 performance-based RSUs tie compensation to multi-year financial goals.

Negative

• None.

Insights

Securities Analyst

TL;DR: CEO received 17k shares and 23.6k performance RSUs; no sales.

The award increases Chad Zamarin’s direct stake to roughly 659k shares, a material holding that strengthens alignment with shareholders. The additional 23,607 PRSUs, contingent on multi-year financial metrics, reinforce long-term performance focus. Because the grants stem from the executive compensation plan and involve no cash outflow or open-market purchase, the immediate valuation impact is neutral for existing shareholders. However, potential future dilution is modest (<0.3% of shares outstanding) and typical for S&P 500 compensation structures. Overall impact: routine and not likely to move the stock.

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^*

Zamarin Chad 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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

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)	07/01/2025	07/01/2025	A	V	17,030	A	$58.72	659,291	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	07/01/2025		A	V	23,607		07/01/2028	07/01/2028	Common Stock	23,607	$58.72	23,607	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	07/03/2025
	** 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 WMB shares did CEO Chad J. Zamarin acquire on 07/01/2025?

He was awarded 17,030 common shares, increasing his direct holdings to 659,291.

What type of derivative securities were granted in the Form 4?

The filing discloses 23,607 performance-based restricted stock units (RSUs) that vest on 07/01/2028.

Did the CEO sell any Williams Companies stock in this filing?

No. The Form 4 shows only acquisitions/grants; no dispositions of shares occurred.

When do the newly granted RSUs vest?

The RSUs vest on 07/01/2028, subject to achievement of three-year performance targets.

What is Chad J. Zamarin’s total direct share ownership after the reported transactions?

After the transactions, he directly owns 659,291 WMB common shares.