ONEOK INC /NEW/ 8-K

What Happened
ONEOK, Inc. announced (8-K filed Jan 26, 2026) that its Board elected Mark A. McCollum and Precious Williams Owodunni as directors, effective January 23, 2026. The Board expanded from 10 to 12 members to accommodate the appointments. The Board has declared both directors independent under NYSE rules and assigned committee roles for each.

Key Details

• Board size increased from 10 to 12 directors; appointments effective Jan 23, 2026 (election voted Jan 21, 2026).
• Mark A. McCollum (66): retired CEO of Weatherford International (served Apr 2017–Jun 2020); former EVP & CFO of Halliburton; will serve on the Audit Committee and Corporate Governance Committee.
• Precious Williams Owodunni (50): CEO of Mountaintop Consulting; former vice president and investment banker at Goldman Sachs; will serve on the Executive Compensation Committee and Corporate Governance Committee.
• Each director is deemed independent; they will receive the standard annual non-management director retainer disclosed in ONEOK’s 2025 Proxy (prorated for Jan–Apr 2026). ONEOK entered customary indemnification agreements providing advancement/reimbursement of legal expenses.

Why It Matters
Board changes are governance events that can affect oversight of financial reporting, risk and executive pay. ONEOK added two independent directors with financial, energy and corporate governance experience—one with deep energy and CFO experience (McCollum) and one with strategy, private equity and board experience (Owodunni). Committee assignments (Audit; Executive Compensation; Corporate Governance) align their expertise with board oversight responsibilities. Investors should note the governance strengthening and the increase in board size; there were no related-party transactions reported.