01—Abstract
Summary
Summary of the 8-K filed January 26, 2026. Cited figures are marked; the original filing is the authoritative source.
ONEOK, Inc. (NYSE: OKE) filed an 8-K on January 26, 2026 to disclose that its board elected two new independent directors, Mark A.
McCollum and Precious Williams Owodunni, effective January 23, 2026. The board expanded from 10 to 12 members to accommodate them. The filing is a governance update rather than a financial disclosure: it contains no earnings, guidance, transaction, or financial results information.
Mark A. McCollum, 66, brings substantial energy-sector and financial leadership experience, including former roles as CEO of Weatherford International, CFO of Halliburton, and CFO of Tenneco. He will sit on the Audit Committee and Corporate Governance Committee, which strengthens the board's financial oversight capabilities.
Precious Williams Owodunni, 50, is CEO of Mountaintop Consulting and a former Goldman Sachs private equity vice president, with expertise in talent development, strategy, and governance. She will join the Executive Compensation and Corporate Governance Committees. For investors, the appointments signal board refreshment and added energy-industry and financial expertise, which is generally viewed as a modest positive for governance.
Neither director has disclosed related-party transactions with ONEOK under Item 404(a) of Regulation S-K, and both were determined to be independent under NYSE rules. Director compensation will be prorated through April 2026 under the non-management director program described in the 2025 proxy statement.
02—Key points
Key Highlights
- ONEOK's board elected Mark A. McCollum and Precious Williams Owodunni as independent directors, effective January 23, 2026.
- The board increased its size from 10 to 12 directors to accommodate the new appointments.
- Mark McCollum, a former CEO of Weatherford International and CFO of Halliburton, joins the Audit and Corporate Governance Committees, adding energy-sector financial expertise.
- Precious Williams Owodunni, CEO of Mountaintop Consulting and former Goldman Sachs private equity VP, joins the Executive Compensation and Corporate Governance Committees.
- Both directors were determined to be independent under NYSE rules, and no Item 404(a) related-party transactions were disclosed.
- Both directors receive prorated non-management director compensation through April 2026 and entered into standard indemnification agreements with ONEOK.
- The filing contains no financial results, guidance, or material transactions; it is a governance-only disclosure.
03—Questions
Frequently Asked Questions
Does this 8-K include any financial results or guidance for ONEOK?
No. The filing covers only board appointments (Item 5.02) and an accompanying press release announcing them. It contains no earnings, financial results, or forward-looking guidance.
Why did ONEOK expand its board from 10 to 12 directors?
The filing does not state a specific reason beyond the appointments themselves. The board increased its size to seat both new directors, which is a common approach to adding members without removing existing ones.
What relevant experience do the new directors bring?
McCollum brings senior financial and energy-industry leadership, including CEO of Weatherford, CFO of Halliburton and Tenneco, and audit experience at Arthur Andersen. Owodunni brings private equity, investment banking, and strategy experience from Goldman Sachs and her consulting firm, plus expertise in talent retention and governance. ONEOK's board chair described both as complementing the board's governance and strategic capabilities.
Are there any conflicts of interest or related-party transactions involving the new directors?
The company states there are no transactions or relationships between either director and ONEOK that would require disclosure under Item 404(a) of Regulation S-K. Both were also determined to be independent under NYSE rules.
How are the new directors compensated?
Each will receive an annual retainer equal to the non-management director compensation disclosed in ONEOK's 2025 Proxy Statement (filed April 2, 2025), prorated for service from January 2026 through April 2026.
04—Continue