ONEOK shareholders approve new incentive plans

ONEOK , Inc. (NYSE:OKE), a $51 billion market cap leader in natural gas transmission and distribution, announced that its shareholders approved two new equity incentive plans at the Annual Meeting held on May 21, 2025. According to InvestingPro data, the company maintains a GOOD financial health score, supported by strong revenue growth of 39% in the last twelve months. The ONEOK, Inc. 2025 Equity Incentive Plan (2025 EIP) and the ONEOK, Inc. 2025 Employee Stock Award Program (2025 ESAP) received affirmative votes from the company’s shareholders, as detailed in the recent SEC 8-K filing.

The 2025 EIP, previously approved by the Board on February 19, 2025, will replace the 2018 Equity Incentive Plan. It authorizes the issuance of up to 16,870,000 shares of common stock, plus an additional 2,278,971 shares that were reserved but remained unissued under the 2018 plan. With ONEOK’s current P/E ratio of 15.9x and attractive dividend yield of 5.03%, InvestingPro analysis suggests the stock is currently fairly valued. The 2025 EIP will allow for various awards, including restricted stock units, performance units, and stock options, to be granted to eligible employees and directors.

Similarly, the 2025 ESAP, which succeeds the program terminated in November 2024, is designed to reward eligible employees with shares of common stock when the company’s stock price reaches certain benchmarks. The plan authorizes the issuance of 700,000 shares and includes provisions for additional discretionary awards by the Board.

In other voting matters, shareholders elected the director nominees, ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, and approved a non-binding resolution on executive compensation.

This information is based on a press release statement and provides an overview of the key resolutions passed at ONEOK’s Annual Meeting, reflecting the company’s ongoing commitment to aligning the interests of its employees and directors with those of its shareholders. The company’s strong financial position is evidenced by its consistent dividend growth of 4% over the last year and robust EBITDA of $6.5 billion.

In other recent news, ONEOK Inc. reported strong financial results for the first quarter of 2025, with net income reaching $636 million, or $1.04 per share. The company’s adjusted EBITDA was $1.78 billion, excluding transaction costs, highlighting the impact of strategic expansions and operational achievements. ONEOK has completed several growth projects, which increased NGL and natural gas volumes, and the company reported no borrowings outstanding on its $3.5 billion facility. Additionally, ONEOK reaffirmed its financial guidance for 2025, anticipating increased volumes in the coming quarters and projecting synergies and growth to reach $1.3 billion by 2027. The company also highlighted its ongoing efforts to achieve $870 million in synergies and growth by 2026. In terms of analyst perspectives, the firm has not faced any recent upgrades or downgrades. ONEOK’s focus remains on leveraging strategic assets and operational strengths to maintain its competitive edge in the energy market.

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