PINNACLE WEST CAPITAL CORP — Director's Dealing 2016

Feb 18, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PINNACLE WEST CAPITAL CORP (PNW)
CIK: 0000764622
Period of Report: 2016-02-16

Reporting Person: FROETSCHER DANIEL T (SVP, Trans, Distr & Cust-APS)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-16	Common Stock	A	856	$0.00	Acquired	9791	Direct
2016-02-16	Common Stock	F	441	$67.25	Disposed	9350	Direct
2016-02-16	Common Stock	A	95	$0.00	Acquired	9445	Direct
2016-02-16	Common Stock	F	49	$67.25	Disposed	9396	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-16	Restricted Stock Units	$	A	2084	Acquired		Common Stock (2084)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1	Indirect

Footnotes

F1: Shares acquired upon the vesting of the portion of the performance shares granted in 2013 that were tied to the total shareholder return performance metric.

F2: Shares retained by the Company for the purpose of meeting tax withholding requirements. The recipient retained all other shares.

F3: Represents shares of common stock received by the individual in settlement of dividend rights that vested in connection with the performance shares that vested on February 16, 2016.

F4: Each Restricted Stock Unit represents a contingent right to receive the economic equivalent of one share of the Company's common stock. The Restricted Stock Units will be settled, at the reporting person's election, in shares of common stock or 50% in common stock and 50% in cash.

F5: The Restricted Stock Units award was granted and was effective on February 16, 2016, and vests in four equal, annual installments beginning on February 20, 2017, and will be settled in four equal, annual installments beginning February 20, 2017.