PINNACLE WEST CAPITAL CORP — Director's Dealing 2011

Mar 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PINNACLE WEST CAPITAL CORP (PNW)
CIK: 0000764622
Period of Report: 2011-03-21

Reporting Person: Sundberg Lori S (SVP, Human Resources, APS)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-21	Common Stock	A	2368	$0.00	Acquired	5201	Direct
2011-03-21	Common Stock	F	726	$41.91	Disposed	4475	Direct

Footnotes

F1: Shares acquired upon the vesting of performance shares granted in 2008.

F2: The minimum number of shares was retained by the Company solely for the purpose of meeting tax withholding requirements. The recipient retained all other shares.