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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

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Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Our common stock is listed on the NYSE under the trading symbol “OKE.” The corporate name ONEOK is used in stock listings.

At February 16, 2026, there were 14,660 holders of record of our 629,783,634 outstanding shares of common stock.

For information regarding our 2025 Employee Stock Award Program and other equity compensation plans, see Note K of the Notes to Consolidated Financial Statements and “Equity Compensation Plan Information” included in Part III, Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters, in this Annual Report.

REPURCHASES OF COMMON STOCK

ISSUER PURCHASES OF EQUITY SECURITIES

PeriodTotal Number of Shares PurchasedAverage Price Paid Per ShareTotal Number of Shares Purchased as Part of the Publicly Announced Program (a)Maximum Approximate Dollar Value of Shares That May Yet Be Purchased Under the Program (Millions of dollars)
October 2025 (b)611,237$72.78611,237$1,766
November 2025—$——$1,766
December 2025—$——$1,766
Total611,237611,237

(a) - In January 2024, our Board of Directors authorized a share repurchase program to buy up to $2.0 billion of our outstanding common stock. The program will terminate upon completion of the repurchases of the $2.0 billion of common stock, or on January 1, 2029, whichever occurs first.

(b) - Shares reported were repurchased in September 2025 and settled in October 2025.

Table of Contents

PERFORMANCE GRAPH

The following performance graph compares the performance of our common stock with the S&P 500 Index, the S&P 500 Energy Index and a ONEOK Peer Group during the period beginning on December 31, 2020, and ending on December 31, 2025.

Value of a $100 Investment, Assuming Reinvestment of Distributions/Dividends,

at December 31, 2020, and at the End of Every Year Through December 31, 2025.

1541

Cumulative Total Return
Years ended December 31,
20212022202320242025
ONEOK, Inc.$164.85$196.00$221.79$333.08$256.81
S&P 500 Index$128.71$105.40$133.10$166.40$196.16
S&P 500 Energy Index (a)$154.64$256.27$252.87$267.34$290.53
ONEOK Peer Group (b)$136.66$175.22$206.42$310.39$337.09

(a) - The S&P 500 Energy Index is a subindex of the S&P 500 that includes those companies classified as members of the energy sector.

(b) - The ONEOK Peer Group in 2025 was composed of the following companies: Antero Midstream Corp.; Energy Transfer LP; Enterprise Products Partners L.P.; Kinder Morgan, Inc.; Kinetik Holdings Inc.; MPLX LP; Plains All American Pipeline, L.P.; Targa Resources Corp.; Western Midstream Partners, LP; and The Williams Companies, Inc.

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