-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RVWwHL1jarFRWlUJAOiHDD2Xl/Tdkp5JtdNgfpyIPdL32CI9CoFPuaGI4a8n1ARY HZ7sQVZKEY8MafjN4i1H3Q== 0000950134-02-006035.txt : 20020522 0000950134-02-006035.hdr.sgml : 20020522 20020522134424 ACCESSION NUMBER: 0000950134-02-006035 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020520 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020522 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WILLIAMS COMPANIES INC CENTRAL INDEX KEY: 0000107263 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION [4922] IRS NUMBER: 730569878 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-04174 FILM NUMBER: 02659614 BUSINESS ADDRESS: STREET 1: ONE WILLIAMS CTR CITY: TULSA STATE: OK ZIP: 74172 BUSINESS PHONE: 9185732000 MAIL ADDRESS: STREET 1: ONE WILLIAM CENTER CITY: TULSA STATE: OK ZIP: 74172 FORMER COMPANY: FORMER CONFORMED NAME: WILLIAMS BROTHERS COMPANIES DATE OF NAME CHANGE: 19710817 8-K 1 d97244e8vk.txt FORM 8-K 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 (Date of earliest event reported): May 20, 2002 -------------- The Williams Companies, Inc. ---------------------------- (Exact name of registrant as specified in its charter) Delaware 1-4174 73-0569878 -------- --------------- ------------------- (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification No.) incorporation) One Williams Center, Tulsa, Oklahoma 74172 ------------------------------------ ----- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 918/573-2000 ------------ Not Applicable -------------- (Former name or former address, if changed since last report) Item 5. Other Events. On May 20, 2002, The Williams Companies, Inc. (NYSE:WMB) announced that its review of trading activity during the last two years shows that Williams did not engage in a strategy of so-called "round-trip trading" for the purpose of inflating trading volumes or revenues. Because Williams reports its trading revenue on a net basis, the less than one percent of reported trades it found with "round-trip" characteristics did not affect reported revenues. Williams is the only major energy marketing company that accounts for its trading revenues on a net, rather than a gross basis. Item 7. Financial Statements and Exhibits. Williams files the following exhibit as part of this report: Exhibit 99.1 Copy of Williams' press release dated May 20, 2002, publicly announcing the matters reported herein. Pursuant to the requirements of the Securities Exchange Act of 1934, Williams has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. THE WILLIAMS COMPANIES, INC. Date: May 22, 2002 /s/ Suzanne H. Costin -------------------------------------- Name: Suzanne H. Costin Title: Corporate Secretary INDEX TO EXHIBITS
EXHIBIT NUMBER DESCRIPTION - ------- ----------- 99.1 Copy of Williams' press release dated May 20, 2002, publicly announcing the matters reported herein.
EX-99.1 3 d97244exv99w1.txt PRESS RELEASE DATED MAY 20, 2002 EXHIBIT 99.1 [WILLIAMS LOGO] NEWS RELEASE [WILLIAMS LETTERHEAD] WILLIAMS CEO SAYS "ROUND-TRIP TRADING DIDN'T ADD A NICKEL TO OUR REVENUES" COMPANY WILL PUBLICLY RESPOND TO FERC QUERIES ON WEDNESDAY TULSA, Okla. - Williams (NYSE:WMB) today said that its review of trading activity during the last two years shows that the company did not engage in a strategy of so-called "round-trip trading" for the purpose of inflating volumes or revenues. Indeed, because Williams reports its revenue on a net basis, the less than 1 percent of reported trades it found with "round-trip" characteristics were not included in its reported revenues. "Round-trip trading didn't add a nickel to our revenues," said Steve Malcolm, chairman, president and CEO. "Even though the number of trades we've found with these characteristics is extremely small and random, the very nature of reporting on a net basis means that they are not included in our reported revenues. It clearly does not reflect an ongoing business strategy." Williams is the only major energy marketing company that accounts for its trading revenues on a net, rather than a gross basis. Williams' trading data shows less than 1 percent of its reported power and gas trading volumes in 2000 and 2001 had any characteristics now associated with "round-trip trading." Williams completed its "round-trip" trading analysis today. The company is also reviewing its California trading practices in response to a Federal Energy Regulatory Commission query resulting from a recent Enron disclosure. The company plans on Wednesday to publicly file its complete response to FERC's information request. ABOUT WILLIAMS (NYSE: WMB) Williams moves, manages and markets a variety of energy products, including natural gas, liquid hydrocarbons, petroleum and electricity. Our operations span the energy value chain from wellhead to burner tip. Based in Tulsa, Okla., Williams and its 12,000 worldwide employees contributed $45 million in 2001 to support the environment, health and human services, the arts, and education in its communities. Williams information is available at www.williams.com. ### Portions of this document may constitute "forward-looking statements" as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company's annual reports filed with the Securities and Exchange Commission. -----END PRIVACY-ENHANCED MESSAGE-----