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ONEOK Executive Compensation (FY25)

OKE · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Pierce Norton II
Latest say-on-pay support
=
May 20, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of November 5, 2026Latest filing (8-K): May 21, 2026
11 filings cited on this page
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226 figures on this page: 219 cited to the filing that reported them, 7 calculated from figures it prints. See the citations

More on ONEOK

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Pierce Norton II: $13,237,333 → $12,003,335 (9.3% lower)
Say-on-pay support: 93.3% → 94.2% (0.9 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is ONEOK's chief executive and what were they paid?
Total compensation for Pierce Norton II, President and Chief Executive Officer, came to $12,003,335 in fiscal 2025. Compared with the $13,237,333 reported for fiscal 2024, Norton II's total was 9.3% lower.
What was ONEOK's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 94.2% of votes cast including abstentions in favor at the meeting held May 20, 2026.
Which companies are in ONEOK's peer group?
The disclosed peer group includes Antero Midstream Corp., Cheniere Energy, Inc., Diamondback Energy, Inc., DT Midstream, Inc. and Energy Transfer LP, among others.
What is ONEOK's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 69:1, against median employee compensation of $174,009.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pierce Norton II
President and Chief Executive Officer
◇—◇—◇—◇◇
Walter Hulse III
Chief Financial Officer, Treasurer and Executive Vice President, Corporate Development and Investor Relations
◇—◇—◇—◇◇
Kevin Burdick
Executive Vice President and Chief Enterprise Services Officer
◇—◇—◇—◇◇
Sheridan Swords
Executive Vice President and Chief Commercial Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pierce Norton II
President and Chief Executive Officer
◇—◇—◇—◇◇
Walter Hulse III
Chief Financial Officer, Treasurer and Executive Vice President, Corporate Development and Investor Relations
◇—◇—◇—◇◇
Sheridan Swords
Executive Vice President and Chief Commercial Officer
◇—◇—◇◇◇◇
Kevin Burdick
Executive Vice President and Chief Enterprise Services Officer
◇—◇—◇—◇◇
CHARLES Kelley
Senior Vice President, Natural Gas Pipelines
◇—◇—◇◇◇◇
Stephen Allen
Senior Vice President, General Counsel and Assistant Secretary
◇—◇—◇—◇— not reconciled
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pierce Norton II
President and Chief Executive Officer
◇—◇—◇—◇◇
Walter Hulse III
Chief Financial Officer, Treasurer and Executive Vice President, Corporate Development and Investor Relations
◇—◇—◇—◇◇
Lyndon Taylor
Executive Vice President, Chief Legal Officer and Assistant Secretary
◇—◇—◇—◇◇
Sheridan Swords
Executive Vice President and Chief Commercial Officer
◇—◇—◇◇◇◇
Kevin Burdick
Executive Vice President and Chief Enterprise Services Officer
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Pierce Norton II
President and Chief Executive Officer
◇—◇—◇—◇◇
Walter Hulse III
Chief Financial Officer, Treasurer and Executive Vice President, Corporate Development and Investor Relations
◇—◇—◇—◇◇
Lyndon Taylor
Executive Vice President, Chief Legal Officer and Assistant Secretary
◇—◇—◇—◇◇
Randy Lentz
Executive Vice President and Chief Operating Officer
◇—◇—◇—◇◇
Sheridan Swords
Executive Vice President and Chief Commercial Officer
◇—◇—◇◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Lyndon C. TaylorRSU◇——◇——◇
Pierce H. Norton IIRSU◇——◇——◇
Randy N. LentzRSU◇——◇——◇
Sheridan C. SwordsRSU◇——◇——◇
Walter S. Hulse IIIRSU◇——◇——◇
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Pierce Norton IIPSU◇◇——
RSU◇◇——
Walter Hulse IIIRSU◇◇——
PSU◇◇——
Lyndon TaylorRSU◇◇——
PSU◇◇——
Sheridan SwordsRSU◇◇——
PSU◇◇——
Randy LentzRSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Lyndon Taylor
Executive Vice President, Chief Legal Officer and Assistant Secretary · Terms as described in the company’s compensation discussion
Change-in-control multiple◇
Benefits continuation on change in control◇
Randy Lentz
Executive Vice President and Chief Operating Officer · Terms as described in the company’s compensation discussion
Change-in-control multiple◇
Benefits continuation on change in control◇
Excise tax treatment◇
Sheridan Swords
Executive Vice President and Chief Commercial Officer · Terms as described in the company’s compensation discussion
Severance cash amount◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Walter Hulse III
Chief Financial Officer · Terms as described in the company’s compensation discussion
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Julie H. Edwards
Board chair
◇◇——◇◇◇
Wayne T. Smith
◇◇———◇◇
Brian L. Derksen
◇◇———◇◇
Eduardo A. Rodriguez
◇◇———◇◇
Randall J. Larson
◇◇———◇◇
Gerald B. Smith
◇◇———◇◇
Pattye L. Moore
◇◇——◇◇◇
Lori A. Gobillot
◇◇———◇◇
Mark W. Helderman
—◇———◇◇
Mark A. McCollum, Precious Williams Owodunni and Pierce H. Norton II served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as Fully vested shares of common stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Antero Midstream Corp. AM
  • Cheniere Energy, Inc. LNG
  • Diamondback Energy, Inc. FANG
  • DT Midstream, Inc. DTM
  • Energy Transfer LP ET
  • Hess Corporation HES
  • Kinder Morgan, Inc. KMI
  • Kinetik Holdings Inc. KIN
  • Marathon Petroleum Corporation MPC
  • Phillips 66 PSX
  • Targa Resources Corp. TRGP
  • The Williams Companies, Inc. WMB
  • Western Midstream Partners, LP WES

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 20, 2026=◇◇◇
2024May 21, 2025=◇◇◇
2023May 22, 2024=◇◇◇
2021May 25, 2022=◇◇◇
2020May 26, 2021=◇◇◇
2019May 20, 2020=◇◇◇
2018May 22, 2019=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Pierce Norton II (President and Chief Executive Officer), FY2025 total compensation $12,003,335 (base salary $1,000,000) [exec_comp, SEC accession 0001039684-26-000010, filed 2026-04-01]

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What this page does not include

Everything above is a fact ONEOK disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where ONEOK sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
226 figures on this page: 219 cited to the filing that reported them, 7 calculated from figures it prints.
219 cited to the filing
7 calculated from the filing

Documents cited

  1. 0001039684-26-000022
    Proposal 3: Advisory Vote on Executive Compensation The shareholders approved a non-binding resolution to approve the Company’s executive compensation program, with votes cast as follows: Votes For Vo
  2. 0001039684-26-000010
    2025 Grants of Plan-Based Awards · Director Compensation · Outstanding Equity Awards · Summary Compensation Table
  4. 0001213900-25-046836
    Item 5.07 Submission of Matters to a Vote of Security Holders
  5. 0001039684-25-000048
    Named Executive Officer Compensation
  6. 0001039684-24-000067
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001213900-24-029562
    Named Executive Officer Compensation
  8. 0001039684-22-000043
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001039684-21-000041
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001039684-20-000040
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001039684-19-000034
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “ONEOK executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/OKE (accessed 2026).
Short form: data: Velarion

The paid brief for ONEOK

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$500 for the Executive Compensation Report. Both reports for $900.
Get the executive briefGet the board briefNo account needed.
11 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Utilities rankings

Chief executive pay — UtilitiesCEO pay ratio — UtilitiesSay-on-pay support — Utilities

Peers ONEOK discloses

The companies named in OKE's own disclosed peer group.

Antero Midstream Corp.Cheniere Energy, Inc.Diamondback Energy, Inc.DT Midstream, Inc.Energy Transfer LPHess CorporationKinder Morgan, Inc.Marathon Petroleum CorporationPhillips 66Targa Resources Corp.The Williams Companies, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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