The Williams Companies Files Prospectus Supplement for Resale of Up to 26.87M Shares

Event Overview

On November 2, 2026, The Williams Companies, Inc. filed a Current Report on Form 8-K under Item 8.01 (Other Events) to report the filing of a prospectus supplement to its existing automatic shelf registration statement on Form S-3 (File No. 333-299764).

Key Highlights

• Resale Volume: Covers the secondary offering/resale of up to 26,874,496 shares of common stock ($1.00 par value) by certain selling securityholders.
• Issuer Proceeds: As a secondary resale by selling securityholders, the Company will not receive any proceeds from the sale of shares by the selling securityholders.
• Legal Opinion: Accompanying Exhibit 5.1 provides the legal validity opinion from Davis Polk & Wardwell LLP confirming that the shares proposed for resale are duly authorized, validly issued, fully paid, and non-assessable.

Market Implications

• Share Overhang: The registration of approximately 26.87 million shares for resale may create short-term supply pressure or market overhang depending on the selling pace and liquidity absorption capacity.
• Dilution: Because these shares are already issued and outstanding (or issuable under preexisting obligations), this transaction does not represent newly dilutive equity issuance to existing common shareholders.