What is the purpose of the blackout period announced by ONEOK?

The blackout period is necessary due to a change in the administrator for ONEOK's employee Thrift Plan and Profit Sharing Plan. This administrative change requires a temporary suspension of trading activities within these plans.

What actions are restricted for participants during the blackout period?

During the blackout period, participants and beneficiaries will be temporarily unable to direct or diversify investments, obtain loans or distributions from their accounts, change investments between different fund options, or adjust the amount of their periodic contributions to the Thrift Plan.

Why are ONEOK's directors and executive officers restricted from trading OKE stock?

ONEOK's directors and executive officers are prohibited from buying, selling, or otherwise transferring ONEOK equity securities in non-exempt transactions during the blackout period. This restriction is a requirement under Section 306(a) of the Sarbanes-Oxley Act of 2002 and SEC Regulation Blackout Trading Restriction to prevent potential insider trading abuses during periods when employee plan participants are restricted from trading.

How long is the blackout period expected to last?

The blackout period is expected to begin on December 17, 2010, and conclude during the week of January 17, 2011, making its duration approximately one month.

OKE 8-K SEC Disclosure

Summary

ONEOK Inc. (OKE) announced a temporary trading suspension, known as a 'blackout period,' for its employee benefit plans. This suspension affects the Thrift Plan for Employees of ONEOK, Inc. and Subsidiaries and the Profit Sharing Plan. The primary reason for this action is the change in the administrator for these plans. The blackout period is scheduled to commence on December 17, 2010, and is anticipated to conclude around the week of January 17, 2011. During this timeframe, participants and beneficiaries will be unable to make various transactions within their plan accounts, including directing or diversifying investments, obtaining loans or distributions, changing investment funds, or adjusting contributions. Furthermore, ONEOK has issued a separate notice to its directors and executive officers regarding restrictions on trading OKE equity securities during the blackout period. This measure, in compliance with Sarbanes-Oxley Act regulations, prohibits insider trading in non-exempt transactions while the blackout is in effect. Investors should be aware that this is a procedural event related to employee benefit plans and not indicative of underlying business performance, although it does highlight the company's adherence to regulatory requirements for employee financial programs.

Key Highlights

1ONEOK Inc. (OKE) is implementing a blackout period for its employee Thrift and Profit Sharing Plans.
2The blackout period is due to a change in the administrator for these employee benefit plans.
3The blackout period is expected to begin on December 17, 2010, and end around the week of January 17, 2011.
4During the blackout, participants cannot direct investments, take loans or distributions, or change investment funds.
5Directors and executive officers are prohibited from trading OKE equity securities during the blackout period.
6This prohibition for insiders is in accordance with Sarbanes-Oxley Act regulations.
7Exhibit 99.1 contains the notice provided to directors and executive officers regarding insider trading restrictions.

ONEOK INC /NEW/ 8-K Report, Temporary Suspension of Trading Under Employee Benefit Plans (Nov 9, 2010)

Summary

Key Highlights

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