ONEOK Management

Management criteria checks 3/4

ONEOK's CEO is Pierce Norton, appointed in Jun 2021, has a tenure of 2.83 years. total yearly compensation is $9.55M, comprised of 8.7% salary and 91.3% bonuses, including company stock and options. directly owns 0.013% of the company’s shares, worth €5.55M. The average tenure of the management team and the board of directors is 2.5 years and 8.3 years respectively.

Key information

Pierce Norton

Chief executive officer

US$9.5m

Total compensation

CEO salary percentage	8.7%
CEO tenure	2.8yrs
CEO ownership	0.01%
Management average tenure	2.5yrs
Board average tenure	8.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Pierce Norton's remuneration changed compared to ONEOK's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$10m	US$835k	US$3b
Sep 30 2023	n/a	n/a	US$2b
Jun 30 2023	n/a	n/a	US$2b
Mar 31 2023	n/a	n/a	US$2b
Dec 31 2022	US$8m	US$835k	US$2b
Sep 30 2022	n/a	n/a	US$2b
Jun 30 2022	n/a	n/a	US$2b
Mar 31 2022	n/a	n/a	US$2b
Dec 31 2021	US$7m	US$427k	US$1b

Compensation vs Market: Pierce's total compensation ($USD9.55M) is above average for companies of similar size in the German market ($USD5.66M).

Compensation vs Earnings: Pierce's compensation has been consistent with company performance over the past year.

CEO

Pierce Norton (63 yo)

2.8yrs

Tenure

US$9,547,574

Compensation

Mr. Pierce H. Norton II, serves as President and Chief Executive Officer at Magellan GP, LLC, the general partner of Magellan since September 25, 2023. He has been President, Chief Executive Officer and Di...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Pierce Norton	President	2.8yrs	US$9.55m	0.013% $ 5.6m
Walter Hulse	CFO, Treasurer and Executive VP of Investor Relations & Corporate Development	6.9yrs	US$4.92m	0.031% $ 13.6m
Sheridan Swords	Executive Vice President of Commercial Liquids and Natural Gas Gathering & Processing	7.3yrs	US$3.85m	0.039% $ 17.2m
Charles Kelley	Senior Vice President of Commercial Natural Gas Pipelines	6.3yrs	US$3.15m	0.024% $ 10.8m
Kevin Burdick	Executive VP & Chief Enterprise Services Officer	2.1yrs	US$3.70m	0.027% $ 11.9m
Mary Spears	Senior VP and Chief Accounting Officer of Finance & Tax.	5.1yrs	no data	0.0053% $ 2.4m
Lyndon Taylor	Executive VP	less than a year	no data	0% $ 0
J. Wallis	Senior Vice President of Communications & Community Relations	1.7yrs	no data	no data
Scott Schingen	Senior Vice President of Natural Gas Liquids & Natural Gas Operations	less than a year	no data	0.0099% $ 4.4m
Christy Williamson	Senior Vice President of Commercial	less than a year	no data	no data
Gregory Lusardi	Senior Vice President of Corporate Development	2.8yrs	no data	no data
James Hoskin	Senior Vice President of Refined Products & Crude Operations	less than a year	no data	0.00071% $ 313.4k

2.5yrs

Average Tenure

59yo

Average Age

Experienced Management: ONK's management team is considered experienced (2.5 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Pierce Norton	President	2.8yrs	US$9.55m	0.013% $ 5.6m
Pattye Moore	Independent Director	22.3yrs	US$260.40k	0.00058% $ 256.0k
Eduardo Rodriguez	Independent Director	20.3yrs	US$271.00k	0.0043% $ 1.9m
Julie Edwards	Independent Chairman of the Board	16.8yrs	US$416.82k	0.011% $ 4.6m
Steven Malcolm	Independent Director	12.3yrs	US$263.50k	0.0059% $ 2.6m
Jimmy Mogg	Independent Director	16.8yrs	US$272.39k	0.00034% $ 150.1k
Gerald Smith	Independent Director	3.3yrs	US$267.50k	no data
Randall Larson	Independent Director	8.3yrs	US$251.00k	0.0047% $ 2.1m
Mark Helderman	Independent Director	5.2yrs	US$251.00k	0.0049% $ 2.2m
Brian L. Derksen	Independent Director	8.3yrs	US$276.00k	0.0032% $ 1.4m
Lori Gobillot	Independent Director	less than a year	US$167.67k	0.00024% $ 105.9k
Wayne Smith	Independent Director	less than a year	US$167.67k	0.00046% $ 203.1k

8.3yrs

Average Tenure

65yo

Average Age

Experienced Board: ONK's board of directors are considered experienced (8.3 years average tenure).

ONEOK Management

Management criteria checks 3/4

Key information

Recent management updates

ONEOK, Inc., Annual General Meeting, May 22, 2024

ONEOK, Inc. Announces Board Appointments

ONEOK, Inc. Announces Executive Changes

President recently bought €1.4m worth of stock

ONEOK, Inc. Announces Retirement of Stephen B. Allen as Senior Vice President, Effective Mid-August, 2023

ONEOK, Inc. Announces the Resignation of Robert F. Martinovich as Executive Vice President and Chief Administrative Officer, Effective from December 31, 2022

Recent updates

Upcoming dividend of US$0.99 per share

Fourth quarter dividend of US$0.99 announced

ONEOK, Inc. Declares Quarterly Dividend, Payable May 15, 2024

ONEOK, Inc. to Report Q1, 2024 Results on Apr 30, 2024

ONEOK, Inc., Annual General Meeting, May 22, 2024

Oneok, Inc. Provides Earnings Guidance for the 2024

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$5.49 (vs US$3.85 in FY 2022)

ONEOK, Inc. to Report Q4, 2023 Results on Feb 26, 2024

ONEOK, Inc. (NYSE:OKE) announces an Equity Buyback for $2,000 million worth of its shares.

New minor risk - Earnings quality

Third quarter 2023 earnings released: EPS: US$0.99 (vs US$0.96 in 3Q 2022)

ONEOK, Inc. Provides Consolidated Earnings Guidance for the Full Year 2023

Upcoming dividend of US$0.95 per share at 5.7% yield

Oneok, Inc. Declares Quarterly Dividend, Payable on November 14, 2023

ONEOK, Inc. to Report Q3, 2023 Results on Oct 31, 2023

ONEOK, Inc. Announces Board Appointments

New minor risk - Shareholder dilution

ONEOK, Inc. (NYSE:OKE) acquired Magellan Midstream Partners, L.P. (NYSE:MMP) from ALPS ETF Trust - Alerian MLP ETF (ARCA:AMLP), managed by ALPS Advisors, Inc. and others.

ONEOK, Inc. Announces Executive Changes

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: US$1.04 (vs US$0.93 in 2Q 2022)

ONEOK, Inc. Declares Quarterly Dividend, Payable on August 14, 2023

ONEOK, Inc. to Report Q2, 2023 Results on Aug 07, 2023

ONEOK, Inc. to Report Q2, 2023 Results on Aug 07, 2023

President recently bought €1.4m worth of stock

ONEOK, Inc. Announces Retirement of Stephen B. Allen as Senior Vice President, Effective Mid-August, 2023

ONEOK, Inc. (NYSE:OKE) entered into a definitive merger agreement to acquire Magellan Midstream Partners, L.P. (NYSE:MMP) for $13.8 billion.

First quarter 2023 earnings released: EPS: US$2.34 (vs US$0.87 in 1Q 2022)

Now 21% undervalued after recent price drop

Full year 2022 earnings released: EPS: US$3.85 (vs US$3.36 in FY 2021)

ONEOK, Inc. Increases Quarterly Dividend, payable on February 14, 2023

ONEOK, Inc. to Report Q4, 2022 Results on Feb 27, 2023

ONEOK, Inc. Announces the Resignation of Robert F. Martinovich as Executive Vice President and Chief Administrative Officer, Effective from December 31, 2022

Third quarter 2022 earnings released: EPS: US$0.96 (vs US$0.88 in 3Q 2021)

Upcoming dividend of US$0.94 per share

ONEOK, Inc. Declares Quarterly Dividend, Payable on November 14, 2022

ONEOK, Inc. to Report Q3, 2022 Results on Nov 01, 2022

Now 26% undervalued

Janet L. Hogan Joins ONEOK, Inc. as Senior Vice President, Chief Human Resources Officer

ONEOK, Inc. Announces Appointment of J. Darren Wallis as Senior Vice President, Communications and Community Relations

Second quarter 2022 earnings released: EPS: US$0.93 (vs US$0.77 in 2Q 2021)

ONEOK, Inc. Announces Appointment of Darren Wallis as Senior Vice President, Communications and Community Relations

ONEOK Declares Quarterly Dividend, Payable on Aug. 15, 2022

ONEOK, Inc. to Report Q2, 2022 Results on Aug 08, 2022

President recently bought €476k worth of stock

Now 21% undervalued

Now 21% undervalued

First quarter 2022 earnings released: EPS: US$0.87 (vs US$0.86 in 1Q 2021)

ONEOK, Inc. Declares Quarterly Dividend, Payable on May 16, 2022

ONEOK, Inc. to Report Q1, 2022 Results on May 03, 2022

Now 23% undervalued

ONEOK, Inc., Annual General Meeting, May 25, 2022

Independent Director recently sold €1.8m worth of stock

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

ONEOK, Inc. Announces Earnings Guidance for the Year 2022

ONEOK, Inc. Announces Resignation of Robert F. Martinovich as Executive Vice President and Chief Administrative Officer

Third quarter 2021 earnings released: EPS US$0.88 (vs US$0.70 in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.77 (vs US$0.32 in 2Q 2020)

First quarter 2021 earnings released: EPS US$0.86 (vs US$0.34 loss in 1Q 2020)

ONEOK, Inc. Increase Earnings Guidance for the Year 2021

ONEOK, Inc., Annual General Meeting, May 26, 2021

Full year 2020 earnings released: EPS US$1.42 (vs US$3.09 in FY 2019)

Revenue misses expectations

New 90-day high: €37.43

ONEOK, Inc. to Report Q4, 2020 Results on Feb 22, 2021

New 90-day high: €35.38

ONEOK, Inc. Announces Board of Directors Changes

New 90-day high: €33.39