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Pierce H. Norton II is the President and CEO of ONEOK, Inc. He took on this role after a successful tenure at ONE Gas, which he led from its launch in 2014 until 2021. With nearly a decade at ONEOK...

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Pierce H. Norton II

CEO of Oneok

Education

Bachelor of Science degree in mechanical engineering from the University of Alabama

Field of Expertise

Technology & Engineering - Engineering

Sector of Economy

Energy

Born

May 1, 1960 - 64 years ago

CEO of Oneok for

3 years 9 months (Jun 2021 - Present)

Previous Experience

President and CEO of ONE Gas, Inc.

Holdings

See how much did Pierce H. Norton II make over time.

As the CEO of ONEOK, Pierce H. Norton II has seen significant fluctuations in his stock holdings over the years. In 2023, he earned a total compensation of over $9.9 million, with a focus on performance-linked payouts. His personal holdings...

Insider Trading

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No insider trades found for this CEO.

Compensation History

See how much did Pierce H. Norton II make over time.

Pierce H. Norton II's compensation reflects a strategic approach to executive pay at ONEOK. In 2023, his total earnings were approximately $9.9 million, which included a base salary of $835,000, a significant bonus of over $2.1 million based on company and individual performance, and around $813,000 in vested stock. Notably, he did not receive any stock options or new stock grants that year, which is unusual for a CEO. His compensation structure aligns with incentives intended to promote strong performance, emphasizing metrics such as earnings per share and safety measures. This pay model is designed not just to reward success but also to retain top talent in the competitive energy sector. Norton’s pay shows a commitment to aligning the interests of executives with those of shareholders, reinforcing that performance in the energy business drives personal and corporate growth.

Year

2023

Total Compensation

$4.09M

Salary

$835.00K

Board Justification

The compensation philosophy emphasizes pay-for-performance, aligning executive compensation with company performance and shareholder interests, while ensuring competitive compensation to attract and retain talent.

Bonus

$2.10M

Board Justification

Annual short-term cash incentive awards earned based on company performance and individual performance for the fiscal year 2023, paid in 2024.

Other

$336.99K

Board Justification

Includes contributions to the 401(k) plan, profit-sharing contributions, and charitable contributions made on behalf of the CEO.

Restricted Stock

$813.39K(13.44K RSU)

Board Justification

Restricted units and performance units that vested in 2023, based on the company's total shareholder return performance relative to peers.

Performance Metrics

The performance metrics for determining the CEO's compensation included earnings per share (EPS), return on invested capital (ROIC), total recordable incident rate (TRIR), and agency reportable environmental event rate (AREER).

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