ONEOK Stock at a discount
With the Employee Stock Purchase Plan (ESPP), you can purchase ONEOK common stock through payroll deductions at a 15% discount.
The next ESPP enrollment period WILL BE DECEMBER 14-27.
Overview
Benefits of the ESPP
- Increase your ownership of company stock on a regular basis.
- Purchase company stock at a 15% discount.
- May help you build savings for the future, including retirement.
Enrollment Period
If you’re eligible, you may enroll or make changes to your participation and/or contribution amount in the ESPP two times per year — called enrollment periods. Enrollment for the offering periods takes place in June and December. E*Trade from Morgan Stanley sends an email to eligible participants when the enrollment period opens.
During the ESPP enrollment period, you can elect to participate in the upcoming ESPP offering period by setting aside contributions through payroll deductions. The percentage you elect will be withheld from each pay period on an after-tax basis. You can contribute 1%–10% of your base pay per pay period. Due to IRS regulations, some participants may be further limited. Once you're enrolled, your election carries over to future offering periods unless you opt out or select a different percentage.
Offering Period
An offering period is a six-month period from January through June and July through December during which your payroll contributions will accumulate for the purpose of purchasing company stock.
PURCHASE ONEOK COMMON STOCK
After the offering period closes, your contributions are used to purchase shares of ONEOK common stock. The price per share is discounted by 15% from the fair market price value price on either the first or the last day of the offering period, whichever is lower.
The IRS limits how many shares of ONEOK common stock you may purchase through the ESPP in a calendar year. You are not allowed to buy more than $25,000 worth of ONEOK common stock in a calendar year based on its fair market value on the first day of the offering period. There are two offering periods each calendar year subject to the annual limit. Should your contributions exceed the limit in either offering period, you will be refunded through payroll.
“Fair market value” generally means the average of the stock’s high and low price on that day.
E-Trade will hold the purchased shares in an individual account established for you and send you a notification of the purchase. You may then log in to your E-Trade account to view the purchased shares.
Pro Tip: Be sure to add a beneficiary to your E-Trade account profile
