Williams Companies board chair Alan Armstrong resigns to become U.S. Senator; Bergstrom elected chairman

WILLIAMS COMPANIES, INC.

Alan S. Armstrong resigned as Executive Board Chair and director effective March 23, 2026, to accept appointment as U.S. Senator for Oklahoma.
Stephen W. Bergstrom, former Independent Lead Director, elected Chairman of the Board; board size reduces from 12 to 11.
Compensation Committee modified Armstrong's 2024 and 2025 performance-based equity awards to avoid penalty for early retirement; estimated value of modification ~$2.8M at $73.60 share price.
Modified vesting gives Armstrong prorated credit for months through July 2026; he forfeits equity for periods after July 2026.
Armstrong was sworn in as U.S. Senator on March 24, 2026, per Oklahoma Governor Kevin Stitt's appointment.

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