PINNACLE WEST CAPITAL CORP — Director's Dealing 2019

Feb 22, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PINNACLE WEST CAPITAL CORP (PNW)
CIK: 0000764622
Period of Report: 2019-02-20

Reporting Person: Danner Denise R (VP, Controller & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-20	Common Stock	M	195	$0.00	Acquired	9717	Direct
2019-02-20	Common Stock	D	195	$90.93	Disposed	9522	Direct
2019-02-20	Common Stock	M	195	$0.00	Acquired	9717	Direct
2019-02-20	Common Stock	F	81	$90.93	Disposed	9636	Direct
2019-02-20	Common Stock	M	168	$0.00	Acquired	9804	Direct
2019-02-20	Common Stock	D	168	$90.93	Disposed	9636	Direct
2019-02-20	Common Stock	M	167	$0.00	Acquired	9803	Direct
2019-02-20	Common Stock	F	69	$90.93	Disposed	9734	Direct
2019-02-20	Common Stock	M	283	$0.00	Acquired	10017	Direct
2019-02-20	Common Stock	D	283	$90.93	Disposed	9734	Direct
2019-02-20	Common Stock	M	292	$0.00	Acquired	10026	Direct
2019-02-20	Common Stock	D	292	$90.93	Disposed	9734	Direct
2019-02-20	Common Stock	A	41	$0.00	Acquired	9775	Direct
2019-02-20	Common Stock	F	18	$90.93	Disposed	9757	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-20	Restricted Stock Units	$	M	390	Disposed		Common Stock (390)	Direct
2019-02-20	Restricted Stock Units	$	M	335	Disposed		Common Stock (335)	Direct
2019-02-20	Restricted Stock Units	$	M	283	Disposed		Common Stock (283)	Direct
2019-02-20	Restricted Stock Units	$	M	292	Disposed		Common Stock (292)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	770	Indirect

Footnotes

F1: 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 100% shares of common stock or 50% in common stock and 50% in cash.

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

F3: 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 100% shares of common stock, 50% in common stock and 50% in cash, or 100% in cash.

F4: Represents shares of common stock received by the individual in settlement of dividend rights granted in connection with the 2015, 2016, 2017, and 2018 Restricted Stock Unit grants.

F5: The Restricted Stock Units award was granted and was effective in February 2015, and vest in four equal, annual installments beginning on February 20, 2016.

F6: The Restricted Stock Units award was granted and was effective in February 2016, and vests in four equal, annual installments beginning on February 20, 2017.

F7: The Restricted Stock Units award was granted and was effective in February 2017, and vest in four equal, annual installments beginning on February 20, 2018.

F8: The Restricted Stock Units award was granted and was effective in February 2018, and vest in four equal, annual installments beginning on February 20, 2019.