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<TITLE>SECURITIES AND EXCHANGE COMMISSION</TITLE>
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<FONT SIZE=4><P ALIGN="CENTER">UNITED STATES</P>
<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
<P ALIGN="CENTER">Washington, D.C. 20549</P>
<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">FORM 8-K</P>
</B><P ALIGN="CENTER"></P>
<P ALIGN="CENTER">CURRENT REPORT</P>
<P ALIGN="CENTER">PURSUANT TO SECTION 13 OR 15(d) OF THE</P>
<P ALIGN="CENTER">SECURITIES EXCHANGE ACT OF 1934</P>
<P ALIGN="CENTER"></P></FONT>
<P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=330>
<TR><TD WIDTH="56%" VALIGN="TOP">
<FONT SIZE=2><P>(Date of report)</FONT></TD>
<TD WIDTH="44%" VALIGN="TOP">
<B><P>June 29, 2007 </B></TD>
</TR>
<TR><TD WIDTH="56%" VALIGN="TOP">
<FONT SIZE=2><P>(Date of earliest event reported)</FONT></TD>
<TD WIDTH="44%" VALIGN="TOP">
<B><P>June 27, 2007</B></TD>
</TR>
</TABLE>
</CENTER></P>
<P ALIGN="CENTER"></P>
<B><FONT SIZE=5><P ALIGN="CENTER">ONEOK, Inc.</P>
</B></FONT><FONT SIZE=2><P ALIGN="CENTER">(Exact name of registrant as specified in its charter)</P>
</FONT><P ALIGN="CENTER"></P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=696>
<TR><TD WIDTH="30%" VALIGN="TOP" HEIGHT=19>
<B><P ALIGN="CENTER">Oklahoma</B></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="31%" VALIGN="TOP" HEIGHT=19>
<B><P ALIGN="CENTER">001-13643</B></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="28%" VALIGN="TOP" HEIGHT=19>
<B><P ALIGN="CENTER">73-1520922</B></TD>
</TR>
<TR><TD WIDTH="30%" VALIGN="TOP" HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">(State or other jurisdiction</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="31%" VALIGN="TOP" HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">(Commission</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="28%" VALIGN="TOP" HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">(IRS Employer</FONT></TD>
</TR>
<TR><TD WIDTH="30%" VALIGN="TOP" HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">of incorporation)</FONT></TD>
<TD WIDTH="6%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="31%" VALIGN="TOP" HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">File Number)</FONT></TD>
<TD WIDTH="5%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="28%" VALIGN="TOP" HEIGHT=19>
<FONT SIZE=2><P ALIGN="CENTER">Identification No.)</FONT></TD>
</TR>
</TABLE>
<P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">100 West Fifth Street; Tulsa, OK</P>
</B><FONT SIZE=2><P ALIGN="CENTER">(Address of principal executive offices)</P>
</FONT><P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">74103</P>
</B><FONT SIZE=2><P ALIGN="CENTER">(Zip code)</P>
</FONT><P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">(918) 588-7000</P>
</B><FONT SIZE=2><P ALIGN="CENTER">(Registrant's telephone number, including area code)</P>
</FONT><P ALIGN="CENTER"></P>
<B><P ALIGN="CENTER">Not Applicable</P>
</B><FONT SIZE=2><P ALIGN="CENTER">(Former name or former address, if changed since last report)</P>
</FONT>
<FONT SIZE=2><P>[] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>
<P>[] Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)</P>
<P>[] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>
<P>[] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>
</FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=674>
<TR><TD WIDTH="12%" VALIGN="TOP" HEIGHT=19>
<U><P>Item 1.01</U></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="86%" VALIGN="TOP" HEIGHT=19>
<U><P>Entry into a Material Definitive Agreement</U></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP" HEIGHT=45><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=45><P></P></TD>
<TD WIDTH="86%" VALIGN="TOP" HEIGHT=45>
<P>On June 27, 2007, we entered into an accelerated share repurchase agreement (ASR) with Bank of America, N.A.  Under the ASR, we agreed to purchase 7,500,000 shares of our common stock from Bank of America, N.A. at a price per share of $49.33 for a total of $370 million.  We will fund the purchase with cash on hand.  The company's outstanding shares used to calculate earnings per share will be reduced by the number of shares repurchased and now stands at approximately 104 million shares outstanding.  </P>
<P>This transaction is subject to, among other things, a market price adjustment provision based upon the volume-weighted average market trading price (less a discount) of our common stock during the term of the ASR.  If we are obligated to make an adjustment payment to Bank of America, N.A. under the ASR, we may elect to satisfy our obligation in cash or in shares of our common stock.  This ASR was entered into pursuant to our previously announced stock repurchase program.</P>
<FONT SIZE=2></FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP" HEIGHT=19>
<U><P>Item 9.01</U></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="86%" VALIGN="TOP" HEIGHT=19>
<U><P>Financial Statements and Exhibits</U></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="86%" VALIGN="TOP" HEIGHT=19>
<P>Exhibits</TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="86%" VALIGN="TOP" HEIGHT=18>
<P>99.1    Press release issued by ONEOK, Inc. dated June 28, 2007.</TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="3%" VALIGN="TOP" HEIGHT=18><P></P></TD>
<TD WIDTH="86%" VALIGN="TOP" HEIGHT=18><P></P></TD>
</TR>
</TABLE>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">2</P>
<P ALIGN="CENTER"></P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">&nbsp;</P>
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<P ALIGN="CENTER">&nbsp;</P>
<P ALIGN="CENTER">SIGNATURE</P>
<P>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=696>
<TR><TD WIDTH="9%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=19><P></P></TD>
<TD WIDTH="37%" VALIGN="TOP" HEIGHT=19>
<P>ONEOK, Inc.</TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP" HEIGHT=19>
<P>Date:</TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=19>
<P>June 29, 2007</TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=19>
<P>By:</TD>
<TD WIDTH="37%" VALIGN="TOP" HEIGHT=19>
<U><P>/s/ Curtis L. Dinan</U></TD>
</TR>
<TR><TD WIDTH="9%" VALIGN="TOP" HEIGHT=100><P></P></TD>
<TD WIDTH="48%" VALIGN="TOP" HEIGHT=100><P></P></TD>
<TD WIDTH="7%" VALIGN="TOP" HEIGHT=100><P></P></TD>
<TD WIDTH="37%" VALIGN="TOP" HEIGHT=100>
<P>Senior Vice President - </P>
<P>Chief Financial Officer and</P>
<P>Treasurer</TD>
</TR>
</TABLE>
<FONT SIZE=2>
<P ALIGN="CENTER">3</P></FONT></BODY>
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[{"type": "8-K", "sequence": "1", "filename": "rrd164428.htm", "description": "SHARE REPURCHASE AGREEMENT", "secsgml_size_bytes": 7253}]
{"company-data": {"conformed-name": "ONEOK INC /NEW/", "cik": "0001039684", "assigned-sic": "4923", "irs-number": "731520922", "state-of-incorporation": "OK", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13643", "film-number": "07949090"}, "business-address": {"street1": "100 WEST 5TH ST", "city": "TULSA", "state": "OK", "zip": "74103", "phone": "9185887000"}, "mail-address": {"street1": "100 WEST 5TH ST", "city": "TULSA", "state": "OK", "zip": "74103"}, "former-company": {"former-conformed-name": "WAI INC", "date-changed": "19970519"}}
SECURITIES AND EXCHANGE COMMISSION
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Date of report)
June 29, 2007
(Date of earliest event reported)
June 27, 2007
ONEOK, Inc.
(Exact name of registrant as specified in its charter)
Oklahoma
001-13643
73-1520922
(State or other jurisdiction
(Commission
(IRS Employer
of incorporation)
File Number)
Identification No.)
100 West Fifth Street; Tulsa, OK
(Address of principal executive offices)
74103
(Zip code)
(918) 588-7000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
[] Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[] Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)
[] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01
Entry into a Material Definitive Agreement
On June 27, 2007, we entered into an accelerated share repurchase agreement (ASR) with Bank of America, N.A.  Under the ASR, we agreed to purchase 7,500,000 shares of our common stock from Bank of America, N.A. at a price per share of $49.33 for a total of $370 million.  We will fund the purchase with cash on hand.  The company's outstanding shares used to calculate earnings per share will be reduced by the number of shares repurchased and now stands at approximately 104 million shares outstanding.
This transaction is subject to, among other things, a market price adjustment provision based upon the volume-weighted average market trading price (less a discount) of our common stock during the term of the ASR.  If we are obligated to make an adjustment payment to Bank of America, N.A. under the ASR, we may elect to satisfy our obligation in cash or in shares of our common stock.  This ASR was entered into pursuant to our previously announced stock repurchase program.
Item 9.01
Financial Statements and Exhibits
Exhibits
99.1    Press release issued by ONEOK, Inc. dated June 28, 2007.
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
ONEOK, Inc.
Date:
June 29, 2007
By:
/s/ Curtis L. Dinan
Senior Vice President -
Chief Financial Officer and
Treasurer
3