ONEOK Adjusts Officer Incentives Post-Magellan Acquisition

Oneok Inc (OKE) has released an update.

In November 2023, ONEOK’s Board of Directors revised the financial metrics of the Annual Officer Incentive Plan to account for the acquisition of Magellan Midstream Partners, L.P., ensuring fair performance assessment. Adjustments included excluding acquisition-related costs and considering the financing impact on earnings per share and return on invested capital calculations, while the operation measures remained unchanged. These changes were solidified in early 2024, leading to the finalization of incentive payouts for company officers.

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