Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Timmermans Ted T
   2. Issuer Name and Ticker or Trading Symbol
WILLIAMS COMPANIES INC [WMB] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President and Controller
(Last)
(First)
(Middle)
ONE WILLIAMS CENTER		 3. Date of Earliest Transaction (Month/Day/Year)
05/09/2006
(Street)

TULSA, OK 74172		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/09/2006   M   484 A $ 10 484 D  
Common Stock 05/09/2006   M   484 A $ 10 968 D  
Comon Stock 05/09/2006   M   484 A $ 10 1,452 D  
Common Stock 05/09/2006   M   726 A $ 10 2,178 D  
Common Stock 05/09/2006   M   726 A $ 10 2,904 D  
Common Stock 05/09/2006   S   484 D $ 23.16 2,420 D  
Common Stock 05/09/2006   S   484 D $ 23.15 1,936 D  
Common Stock 05/09/2006   S   726 D $ 23.12 1,210 D  
Common Stock 05/09/2006   S   726 D $ 23.13 484 D  
Common Stock 05/09/2006   S   484 D $ 23.1 0 D  
Common Stock (1)               16,179 I By Trust

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Options (Right to Buy) $ 10 05/09/2006   M     484 05/03/1999 03/30/2008 Common Stock 484 $ 10 59,203 D  
Employee Options (Right to Buy) $ 10 05/09/2006   M     484 03/23/1999 07/25/2008 Common Stock 484 $ 10 58,719 D  
Employee Options (Right to Buy) $ 10 05/09/2006   M     484 03/23/1999 11/19/2008 Common Stock 484 $ 10 58,235 D  
Employee Options (Right to Buy) $ 10 05/09/2006   M     726 04/15/1999 03/18/2009 Common Stock 726 $ 10 57,509 D  
Employee Options (Right to Buy) $ 10 05/09/2006   M     726 09/16/1999 09/16/2009 Common Stock 726 $ 10 56,783 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Timmermans Ted T
ONE WILLIAMS CENTER
TULSA, OK 74172		       Vice President and Controller  

Signatures

 Cher S. Lawrence, Attorney-in-Fact for Ted T. Timmermans   05/09/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents total shares of the Company's common stock held in The Investment Plus Plan.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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