PINNACLE WEST CAPITAL CORP — Director's Dealing 2016

May 17, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PINNACLE WEST CAPITAL CORP (PNW)
CIK: 0000764622
Period of Report: 2016-05-13

Reporting Person: Edington Randall K (EVP & CNO, PVNGS, APS)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-13	Common Stock	S	5500	$73.99	Disposed	26912	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	9747	Direct

Footnotes

F1: The price in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $73.91 to $74.16, inclusive. The reporting person undertakes to provide Pinnacle West Capital Corporation ("PNW"), any security holder of PNW, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F2: The shares are held in a revocable family trust.