SEC Form 4 · accession 0001209191-15-016257
ONE Gas, Inc. · OGS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Pierce Norton
Officer — See Remarks · Director
Period of report
Feb 17, 2015
Accepted (ET)
Feb 19, 2015 · 6:53 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001587732
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common stock, par value $0.01F1 | Feb 17, 2015 | M | 98,007 | $41.40 | A | 135,914 | D | |
| Common stock, par value $0.01F1 | Feb 17, 2015 | F | 45,062 | $41.40 | D | 90,852 | D | |
| Common stock, par value $0.01F2 | Feb 17, 2015 | M | 14,280 | $41.40 | A | 105,132 | D | |
| Common stock, par value $0.01F2 | Feb 17, 2015 | F | 4,686 | $41.40 | D | 100,446 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Units 2012F1 | — | Feb 17, 2015 | M | 98,007 | D | — | — | Common stock, par value $0.01 | 98,007 | 0 | D |
| Restricted Units 2012F2 | — | Feb 17, 2015 | M | 14,280 | D | — | — | Common stock, par value $0.01 | 14,280 | 0 | D |
| Performance Units 2015F3 | — | Feb 17, 2015 | A | 24,150 | A | — | — | Common stock, par value $0.01 | 24,150 | 24,150 | D |
| Restricted Units 2015F4 | — | Feb 17, 2015 | A | 6,050 | A | — | — | Common stock, par value $0.01 | 6,050 | 6,050 | D |
Explanation of responses
- F1On January 31, 2014, ONEOK, Inc. ("ONEOK") effected the distribution of 100% of the outstanding shares of common stock of ONE Gas, Inc. ("ONE Gas") held by ONEOK to ONEOK's shareholders (the "Distribution"). In connection with the Distribution, performance units were awarded under ONE Gas' Equity Compensation Plan, pursuant to that certain Employee Matters Agreement by and between ONEOK and ONE Gas, dated January 14, 2014 (the "Employee Matters Agreement"). The award vested on February 15, 2015, and was certified by the Board of Directors on February 17, 2015. A portion of the award, or 19,764 performance units, vested in an amount equal to 150% of the performance units awarded based upon ONE Gas' total stockholder return compared to total stockholder return of a selected peer group. The remainder of the award vested in an amount equal to the number of performance units awarded. The award was payable one share of ONE Gas' common stock for each vested performance unit.
- F2Restricted units awarded under ONE Gas' Equity Compensation Plan, pursuant to the Employee Matters Agreement entered into in connection with the Distribution. The award vested on February 15, 2015. The award was payable one share of ONE Gas' common stock for each vested restricted unit.
- F3Performance units awarded under the Issuer's Equity Compensation Plan. The award will vest on February 17, 2018, for a percentage (0% to 200%) of the performance units awarded based upon the Issuer's total stockholder return compared to total stockholder return of a selected peer group. During the 3-year vesting period, the award will be credited with dividend equivalents that will be paid out in shares of common stock at the time the underlying units vest and shares are issued. The award and credited dividend equivalents will be payable one share of the Issuer's common stock for each vested performance unit and dividend equivalent.
- F4Restricted units awarded under the Issuer's Equity Compensation Plan. The award vests on February 17, 2018. During the 3-year vesting period, the award will be credited with dividend equivalents that will be paid out in shares of common stock at the time the underlying units vest and are issued. The award and credited dividend equivalents will be payable one share of the Issuer's common stock for each vested restricted unit and dividend equivalent.
Remarks
President and Chief Executive Officer