Williams Companies Management

Management criteria checks 2/4

Williams Companies' CEO is Murray Armstrong, appointed in Jan 2011, has a tenure of 13.83 years. total yearly compensation is $17.55M, comprised of 7.9% salary and 92.1% bonuses, including company stock and options. directly owns 0.2% of the company’s shares, worth $142.13M. The average tenure of the management team and the board of directors is 4.3 years and 8 years respectively.

Key information

Murray Armstrong

Chief executive officer

US$17.5m

Total compensation

CEO salary percentage	7.9%
CEO tenure	13.8yrs
CEO ownership	0.2%
Management average tenure	4.3yrs
Board average tenure	8yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Murray Armstrong's remuneration changed compared to Williams Companies's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$3b
Jun 30 2024	n/a	n/a	US$3b
Mar 31 2024	n/a	n/a	US$3b
Dec 31 2023	US$18m	US$1m	US$3b
Sep 30 2023	n/a	n/a	US$3b
Jun 30 2023	n/a	n/a	US$3b
Mar 31 2023	n/a	n/a	US$3b
Dec 31 2022	US$14m	US$1m	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$1b
Dec 31 2021	US$14m	US$1m	US$2b
Sep 30 2021	n/a	n/a	US$1b
Jun 30 2021	n/a	n/a	US$1b
Mar 31 2021	n/a	n/a	US$1b
Dec 31 2020	US$12m	US$1m	US$208m
Sep 30 2020	n/a	n/a	US$231m
Jun 30 2020	n/a	n/a	US$143m
Mar 31 2020	n/a	n/a	US$150m
Dec 31 2019	US$16m	US$1m	US$862m
Sep 30 2019	n/a	n/a	US$152m
Jun 30 2019	n/a	n/a	US$61m
Mar 31 2019	n/a	n/a	-US$114m
Dec 31 2018	US$11m	US$1m	-US$156m
Sep 30 2018	n/a	n/a	US$2b
Jun 30 2018	n/a	n/a	US$2b
Mar 31 2018	n/a	n/a	US$2b
Dec 31 2017	US$11m	US$1m	US$2b

Compensation vs Market: Murray's total compensation ($USD17.55M) is above average for companies of similar size in the UK market ($USD5.73M).

Compensation vs Earnings: Murray's compensation has increased by more than 20% in the past year.

CEO

Murray Armstrong (62 yo)

13.8yrs

Tenure

US$17,548,802

Compensation

Mr. Alan S. Armstrong, also known as Murray, has been Chief Executive Officer of WPZ GP LLC since December 31, 2014. Mr. Armstrong has been the Chief Executive Officer and President of The Williams Compani...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Alan Armstrong	President	13.8yrs	US$17.55m	0.20% $ 142.1m
John Porter	Senior VP & CFO	2.8yrs	US$4.28m	0.0032% $ 2.3m
Micheal Dunn	Executive VP & COO	7.8yrs	US$6.86m	0.045% $ 32.5m
Terence Wilson	Senior VP & General Counsel	7.6yrs	US$3.38m	0.025% $ 17.7m
Chad Zamarin	Executive Vice President of Corporate Strategic Development	7.4yrs	US$5.02m	0.037% $ 26.3m
Mary Hausman	VP, Chief Accounting Officer & Controller	2.8yrs	no data	0.0021% $ 1.5m
Danilo Juvane	Vice President of Investor Relations	4.2yrs	no data	no data
Debbie Pickle	Senior VP & Chief Human Resource Officer	6.1yrs	no data	0.0050% $ 3.5m
Chad Teply	Senior Vice President of Transmission & Gulf of Mexico	4.5yrs	no data	0.011% $ 7.8m
Larry Larsen	Senior Vice President of Gathering & Processing	2.7yrs	no data	0.0061% $ 4.4m
Eric Ormond	Senior Vice President of Project Execution	1.8yrs	no data	no data
Donald Cravins	Head of Government Affairs & Outreach	less than a year	no data	no data

4.3yrs

Average Tenure

51.5yo

Average Age

Experienced Management: 0LXB's management team is considered experienced (4.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Alan Armstrong	President	13.8yrs	US$17.55m	0.20% $ 142.1m
Rose Robeson	Independent Director	3.9yrs	US$312.50k	0.0022% $ 1.6m
Stephen Bergstrom	Independent Chairman of the Board	8.3yrs	US$514.99k	0.012% $ 8.6m
Scott Sheffield	Independent Director	8.3yrs	US$295.00k	0.0039% $ 2.8m
Michael Creel	Independent Director	7.9yrs	US$315.00k	0.0091% $ 6.5m
William Spence	Independent Director	8.3yrs	US$345.00k	0.0049% $ 3.5m
Murray Smith	Independent Director	12.8yrs	US$295.00k	0.0053% $ 3.8m
Peter Ragauss	Independent Director	8.2yrs	US$297.50k	0.0039% $ 2.8m
Stacey Dore	Independent Director	3.8yrs	US$305.00k	0.0021% $ 1.5m
Richard Muncrief	Independent Director	2.7yrs	US$300.00k	0.0014% $ 971.5k
Carri Lockhart	Independent Director	1.8yrs	US$333.74k	0.0010% $ 714.3k
Jesse Tyson	Independent Director	2.7yrs	US$290.00k	0.0014% $ 1.0m

8.0yrs

Average Tenure

66.5yo

Average Age

Experienced Board: 0LXB's board of directors are considered experienced (8 years average tenure).

Williams Companies Management

Management criteria checks 2/4

Key information

Recent management updates

Insider recently sold US$1.5m worth of stock

The Williams Companies, Inc., Annual General Meeting, Apr 30, 2024

Williams Appoints Donald “Don” R. Cravins, Jr., as Head of Government Affairs and Outreach

Insider recently sold US$2.2m worth of stock

Independent Chairman of the Board recently bought US$200k worth of stock

High number of new directors

Recent updates

Third quarter dividend of US$0.47 announced

Third quarter 2024 earnings released: EPS: US$0.58 (vs US$0.54 in 3Q 2023)

Williams Announces Quarterly Cash Dividend, Payable on December 30, 2024

The Williams Companies, Inc. to Report Q3, 2024 Results on Nov 06, 2024

Now 20% undervalued

Upcoming dividend of US$0.47 per share

New minor risk - Earnings quality

First quarter dividend of US$0.47 announced

The Williams Companies, Inc. Announces Quarterly Cash Dividend, Payable on September 30, 2024

The Williams Companies, Inc. to Report Q2, 2024 Results on Aug 05, 2024

Upcoming dividend of US$0.47 per share

Insider recently sold US$1.5m worth of stock

First quarter 2024 earnings released: EPS: US$0.52 (vs US$0.76 in 1Q 2023)

Fourth quarter dividend of US$0.47 announced

Williams Announces Quarterly Cash Dividend, Payable on June 24, 2024

The Williams Companies, Inc. to Report Q1, 2024 Results on May 06, 2024

The Williams Companies, Inc., Annual General Meeting, Apr 30, 2024

Upcoming dividend of US$0.47 per share

Full year 2023 earnings released: EPS: US$2.69 (vs US$1.68 in FY 2022)

Full year 2023 earnings released: EPS: US$2.69 (vs US$1.68 in FY 2022)

Third quarter dividend increased to US$0.47

Williams Increases Quarterly Cash Dividend, Payable on March 25, 2024

The Williams Companies, Inc. to Report Fiscal Year 2023 Results on Feb 14, 2024

Williams Appoints Donald “Don” R. Cravins, Jr., as Head of Government Affairs and Outreach

New major risk - Revenue and earnings growth

Now 20% undervalued

Now 21% undervalued

The Williams Companies, Inc. (NYSE:WMB) completed the acquisition of remaining 50% stake in Rocky Mountain Midstream LLC from Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR).

Upcoming dividend of US$0.45 per share at 4.9% yield

Insider recently sold US$2.2m worth of stock

The Williams Companies, Inc. (NYSE:WMB) entered into an agreement to acquire remaining 50% stake in Rocky Mountain Midstream LLC from Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR) for approximately $710 million.

Third quarter 2023 earnings released: EPS: US$0.54 (vs US$0.49 in 3Q 2022)

Williams Announces Quarterly Cash Dividend, Payable on December 26, 2023

The Williams Companies, Inc. to Report Q3, 2023 Results on Nov 01, 2023

Now 20% undervalued

Upcoming dividend of US$0.45 per share at 5.2% yield

New major risk - Revenue and earnings growth

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: EPS: US$0.45 (vs US$0.33 in 2Q 2022)

Williams Announces Quarterly Cash Dividend, Payable on September 25, 2023

The Williams Companies, Inc. to Report Q2, 2023 Results on Aug 02, 2023

Upcoming dividend of US$0.45 per share at 6.1% yield

First quarter 2023 earnings released: EPS: US$0.76 (vs US$0.31 in 1Q 2022)

Independent Chairman of the Board recently bought US$200k worth of stock

Upcoming dividend of US$0.45 per share at 5.9% yield

High number of new directors

Full year 2022 earnings released: EPS: US$1.68 (vs US$1.25 in FY 2021)

High number of new directors

Williams Appoints Carri Lockhart as an Independent Director on the Board, Effective Feb. 10, 2023

the Williams Companies, Inc. Announces Quarterly Cash Dividend, Payable on March 27, 2023

The Williams Companies, Inc. to Report Q4, 2022 Results on Feb 20, 2023

Williams Announces the Promotion of Chad Zamarin to Executive Vice President of Corporate Strategic Development

Upcoming dividend of US$0.42 per share

Senior VP & General Counsel recently sold US$291k worth of stock

Senior VP & General Counsel recently sold US$681k worth of stock

Third quarter 2022 earnings released: EPS: US$0.49 (vs US$0.14 in 3Q 2021)

The Williams Companies, Inc. Announces Quarterly Cash Dividend, Payable on December 26, 2022

The Williams Companies, Inc. to Report Q3, 2022 Results on Oct 31, 2022

The Williams Companies, Inc. Reaffirms Earnings Guidance for the Year 2022

Now 21% undervalued

Upcoming dividend of US$0.42 per share

Second quarter 2022 earnings released: EPS: US$0.33 (vs US$0.25 in 2Q 2021)

Williams Announces Quarterly Cash Dividend, Payable on Sept. 26, 2022

The Williams Companies, Inc. to Report Q2, 2022 Results on Aug 01, 2022

Investor sentiment deteriorated over the past week

Insider recently sold US$1.4m worth of stock

Upcoming dividend of US$0.42 per share

The Williams Companies, Inc. Raises Dividend Guidance in 2022

First quarter 2022 earnings released: EPS: US$0.31 (vs US$0.35 in 1Q 2021)