BURDICK KEVIN L 4

What Happened

• Kevin L. Burdick, Executive Vice President & Chief Enterprise Services Officer of ONEOK (OKE), was granted 12,098 restricted stock units (RSUs) on Feb 18, 2026. The Form 4 reports the grant as a derivative award (no purchase price provided).
• The award does not immediately convert to tradable shares; the units vest on Feb 18, 2029 and will be settled in ONEOK common stock (one share per vested unit, including additional units from dividend equivalents).

Key Details

• Transaction date: 2026-02-18; Form filed: 2026-02-20 (filed within the typical 2-business-day window).
• Shares/units granted: 12,098 RSUs; price reported as N/A (no cash paid).
• Vesting: 100% vests on Feb 18, 2029 (3-year vesting period).
• Dividend treatment: dividend equivalents will be credited during vesting and paid in additional shares at vesting (one-for-one conversion).
• Award significance: represents 50% of the annual Equity Incentive Plan award granted to the reporting person in February 2026.
• Additional filing note: Exhibit 24 (Power of Attorney) referenced on the filing.
• Shares owned after transaction: not specified on the information provided.

Context

• This is an equity compensation award (A = Award/Grant), not a market purchase or sale—so it doesn’t indicate an immediate cash inflow or liquidation by the insider. The economic value will materialize only if/when the units vest and are settled in shares.
• Dividend equivalents boost the eventual share payout but are paid only at vesting, not currently.
• Such grants are routine for executives and are intended as long-term incentive compensation rather than a direct signal of insider buying or selling.