ONEOK’s Chairman of the Board John Gibson just made a tidy $4 million off the sale of some of the shares he has in the Tulsa-based company.
The sale was revealed in a filing by ONEOK with the Securities Exchange Commission. Gibson disposed of 75,000 shares, each valued at $54.89 giving him a total of $4,114,000.
The SEC filing indicated he still has ownership of 1,128,639 shares in ONEOK.
Gibson is a non-executive chairman of the board and had previously been chairman and CEO of both ONEOK and ONEOK Partners.
Gibson joined ONEOK in 2000 as president of energy, responsible for the company’s natural gas gathering and processing, and transportation and storage businesses. In 2006, he was named president and chief operating officer of ONEOK Partners, the master limited partnership that contains the midstream natural gas and natural gas liquids businesses. He was elected chief executive officer of ONEOK and president and chief executive officer of ONEOK Partners in January 2007, becoming chairman of ONEOK Partners later that year. In January 2010, he became president of ONEOK; and in May 2011, he became chairman.