ONEOK filed a proxy statement and notice of its May 26 annual meeting with the Securities and Exchange Commission.
The filing included 66 pages of explanation about the 11 nominees for the board of directors, the selection of PricewaterhouseCoopers LLP as the public accounting firm and the compensation for company executives.
The election of 11 board of directors members includes: Brian L. Derksen, Julie H. Edwards, John W. Gibson, Mark W. Helderman, Randall J. Larson, Steven J. Malcolm, Jim W. Mogg, Pattye L. Moore, Eduardo A. Rodriguez, Gerald B. Smith and Terry K. Spencer.
Shareholders will also be asked to approve the executive compensation plan which calls for a $25,000 increase to Spencer’s salary and his long-term incentive target by $250,000.
The proxy filing indicated that Spencer received a total direct compensation of approximately $6.7 million for 2020 and a majority of it was incentive-based and at-risk.
ONEOK’s annual meeting will be virtual due to the COVID-19 pandemic and will be held at 9 a.m. central time on Wednesday, May 26.