WMB · Williams Companies, Inc.
$74.41
+3.33 (+4.68%)
At close · Aug 26
View the 10-K filed Feb 24, 2026
Customer concentration
— top customer 31% of revenue
One customer — 31% of revenue (the year ended December 31, 2025)
“For the year ended December 31, 2025, Transco's largest customer was Duke Energy Corporation, which accounted for approximately 9 percent of its operating revenue, and NWP's largest customer was Puget Sound Energy, Inc., which accounted for approximately 31 percent of its operating revenue.”
One customer — 9% of revenue (the year ended December 31, 2025)
“For the year ended December 31, 2025, Transco's largest customer was Duke Energy Corporation, which accounted for approximately 9 percent of its operating revenue, and NWP's largest customer was Puget Sound Energy, Inc., which accounted for approximately 31 percent of its operating revenue.”
Market Cap
$91.02B
Shares
1.22B
Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.
Fiscal 2025
| Executive | Role | Total |
|---|---|---|
| Alan S. Armstrong | Executive Board Chair and Former President and Chief Executive Officer | $17,919,373 |
| Alan Armstrong | CEO | $17,919,373 |
| Robert Wingo | — | $6,125,067 |
| Micheal Dunn | Former EVP and Chief Operating Officer | $5,400,025 |
| John Porter | EVP and Chief Financial Officer | $4,821,388 |
| Larry C. Larsen | EVP and Chief Operating Officer | $4,511,546 |
| Lane Wilson | SVP and | $3,580,318 |
Fiscal 2024
| Executive | Role | Total |
|---|---|---|
| Alan Armstrong | CEO | $16,323,557 |
| Alan S. Armstrong | President and Chief Executive Officer | $16,323,557 |
| Micheal Dunn | EVP and Chief Operating Officer | $6,705,931 |
| Chad J. Zamarin | EVP, Corporate Strategic Development | $4,922,681 |
| John Porter | SVP and Chief Financial Officer | $4,322,516 |
| Lane Wilson | SVP and General Counsel | $3,335,266 |
| Larry C. Larsen | EVP and Chief Operating Officer | — |
| EVP Corporate | — | — |
Fiscal 2023
| Executive | Role | Total |
|---|---|---|
| Alan Armstrong | CEO | $17,548,802 |
| Alan S. Armstrong | President and Chief Executive Officer | $17,548,802 |
| Micheal Dunn | EVP and Chief Operating Officer | $6,859,157 |
| Micheal G | Dunn EVP and Chief Operating Officer | $6,859,157 |
| Chad J. Zamarin | EVP, Corporate Strategic Development | $5,023,519 |
| Chad J | Zamarin EVP, Corporate Strategic Development | $5,023,519 |
| John Porter | SVP and Chief Financial Officer | $4,281,851 |
| General Counsel | — | $3,384,908 |
| Lane Wilson | SVP and General Counsel | $3,384,908 |
| Larry C. Larsen | EVP and Chief Operating Officer | — |
| Strategic Development | — | — |
Fiscal 2022
| Executive | Role | Total |
|---|---|---|
| Alan Armstrong | CEO | $13,887,596 |
| Alan S. Armstrong | President and Chief Executive Officer | $13,887,596 |
| Micheal G | Dunn EVP and Chief Operating Officer | $5,997,568 |
| Micheal Dunn | EVP and Chief Operating Officer | $5,997,568 |
| Chad J. Zamarin | EVP, Corporate Strategic Development | $4,528,608 |
| Chad J | Zamarin EVP, Corporate Strategic Development | $4,528,608 |
| John Porter | SVP and Chief Financial Officer | $3,839,695 |
| Lane Wilson | SVP and General Counsel | $2,927,616 |
Fiscal 2021
| Executive | Role | Total |
|---|---|---|
| Alan S. Armstrong | President and Chief Executive Officer | $13,759,533 |
| Alan Armstrong | CEO | $13,759,533 |
| Micheal Dunn | EVP and Chief Operating Officer | $5,433,225 |
| Micheal G | Dunn EVP and Chief Operating Officer | $5,433,225 |
| Chad J. Zamarin | EVP, Corporate Strategic Development | $4,122,715 |
| Chad J | Zamarin EVP, Corporate Strategic Development | $4,122,715 |
| John Chandler | SVP, Chief Financial Officer | $3,833,843 |
| Walter J. Bennett | SVP, Gathering & Processing | $2,757,368 |
| Lane Wilson | SVP and General Counsel | — |
| John Porter | SVP and Chief Financial Officer | — |
Fiscal 2020
| Executive | Role | Total |
|---|---|---|
| Alan S. Armstrong | President and Chief Executive Officer | $12,171,958 |
| Alan Armstrong | CEO | $12,171,958 |
| Micheal Dunn | EVP and Chief Operating Officer | $5,591,351 |
| Chad J. Zamarin | EVP, Corporate Strategic Development | $3,995,728 |
| John Chandler | SVP, Chief Financial Officer | $3,762,190 |
| Walter J. Bennett | SVP, Gathering & Processing | $2,679,613 |
| John Porter | SVP and Chief Financial Officer | — |
| Lane Wilson | SVP and General Counsel | — |
Fiscal 2019
| Executive | Role | Total |
|---|---|---|
| Alan Armstrong | CEO | $15,590,338 |
| Alan S. Armstrong | President and Chief Executive Officer | $15,590,338 |
| Micheal Dunn | EVP, Chief Operating Officer | $6,611,309 |
| Chad J. Zamarin | SVP, Corporate Strategic Development | $5,268,657 |
| John Chandler | SVP, Chief Financial Officer | $4,772,069 |
| John E. Poarch | SVP, Project Execution | $3,455,849 |
| Walter J. Bennett | SVP, Gathering & Processing | — |
Fiscal 2018
| Executive | Role | Total |
|---|---|---|
| Alan Armstrong | CEO | $10,691,376 |
| Alan S. Armstrong | President and Chief Executive Officer | $10,691,376 |
| Micheal Dunn | EVP, Chief Operating Officer | $5,098,072 |
| Chad J. Zamarin | SVP, Corporate Strategic Development | $3,715,530 |
| John Chandler | SVP, Chief Financial Officer | $3,695,298 |
| John E. Poarch | SVP, Project Execution | — |
| Walter J. Bennett | SVP, Gathering & Processing | — |
Fiscal 2017
| Executive | Role | Total |
|---|---|---|
| Alan S. Armstrong | President and Chief Executive Officer | $10,620,236 |
| Alan Armstrong | CEO | $10,620,236 |
| Micheal Dunn | EVP, Chief Operating Officer | $4,074,924 |
| Chad J. Zamarin | SVP, Corporate Strategic Development | $3,500,045 |
| John Chandler | SVP, Chief Financial Officer | $876,856 |
| John E. Poarch | SVP, Project Execution | — |
Executive changes
| Person | Role | Change | Filed |
|---|---|---|---|
| Lloyd W. (Billy) Helms, Jr. | Board of Directors | Appointed | 2026-07-01 |
| Robb E. Turner | Board of Directors | Appointed | 2026-07-01 |
| William H. Spence | Director | Appointed | 2026-05-04 |
| Chad J. Zamarin | Director | Appointed | 2026-05-04 |
| Jesse J. Tyson | Director | Appointed | 2026-05-04 |
| Rose M. Robeson | Director | Appointed | 2026-05-04 |
| Scott D. Sheffield | Director | Appointed | 2026-05-04 |
| Richard E. Muncrief | Director | Appointed | 2026-05-04 |
| Carri A. Lockhart | Director | Appointed | 2026-05-04 |
| Peter A. Ragauss | Director | Appointed | 2026-05-04 |
| Michael A. Creel | Director | Appointed | 2026-05-04 |
| Stephen W. Bergstrom | Director | Appointed | 2026-05-04 |
| Alan S. Armstrong | member of the Board's Environmental, Health and Safety Committee | Resigned | 2026-03-26 |
| Alan S. Armstrong | Executive Board Chair | Resigned | 2026-03-26 |
| Stephen W. Bergstrom | independent Lead Director | Appointed | 2025-05-05 |
| Alan S. Armstrong | Executive Chairman of the Board | Appointed | 2025-05-05 |
| Chad J. Zamarin | member of the Board of Directors | Appointed | 2025-05-05 |
| Chad J. Zamarin | President and Chief Executive Officer | Appointed | 2025-05-05 |
| Larry Larsen | Executive Vice President and Chief Operating Officer | Appointed | 2025-04-24 |
| Micheal G. Dunn | Executive Vice President and Chief Operating Officer | Retired | 2025-03-13 |
| Carri A. Lockhart | Board | Appointed | 2023-02-13 |
| Nancy K. Buese | Board of Directors | Resigned | 2023-02-13 |
| Charles I. Cogut | director | Retired | 2022-04-28 |
| Stephen I. Chazen | director | Retired | 2022-04-28 |
| Jesse J. Tyson | independent directors on the Board | Appointed | 2022-02-03 |
Key facts
CIK
107263
CUSIP
969457100
13F (30d)
1278 filings
1264 filers
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