Summary
ONEOK, Inc. (OKE) filed an 8-K on February 23, 2023, detailing two significant updates approved by its Board of Directors on February 22, 2023. Firstly, the company amended its By-laws to introduce a procedural requirement for shareholder nominations of directors. Specifically, any shareholder soliciting proxies must use a proxy card color distinct from white, aimed at enhancing clarity in director nomination processes. Secondly, ONEOK updated its Code of Business Conduct and Ethics, now titled "ONE Way to Work." This revised code expands on existing ethical guidelines concerning workplace conduct, insider trading, and conflicts of interest. It also incorporates new and important areas such as diversity and inclusion, environmental protection and sustainability, workplace health and safety, community support, and human rights. These updates reflect ONEOK's commitment to robust governance and evolving ethical standards.
Key Highlights
- 1ONEOK amended its By-laws to enhance procedural mechanics for shareholder director nominations.
- 2Shareholders soliciting proxies for director nominations must now use a proxy card color other than white.
- 3The company revised its Code of Business Conduct and Ethics, now named "ONE Way to Work."
- 4The updated Code includes expanded coverage on existing ethical topics.
- 5New subjects like diversity and inclusion, environmental protection, sustainability, health and safety, community support, and human rights are now integrated into the Code.
- 6These changes were approved by the Board of Directors on February 22, 2023.
- 7The filing also includes the updated By-laws (Exhibit 3.1) and the revised Code of Ethics (Exhibit 14.1) as incorporated exhibits.