PINNACLE WEST CAPITAL CORP — Director's Dealing 2021

Feb 23, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PINNACLE WEST CAPITAL CORP (PNW)
CIK: 0000764622
Period of Report: 2021-02-19

Reporting Person: Smith Robert Edgar (SVP and General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-19	Common Stock	M	1232	—	Acquired	3012	Direct
2021-02-19	Common Stock	D	1232	$76.26	Disposed	1780	Direct
2021-02-19	Common Stock	M	1232	—	Acquired	3012	Direct
2021-02-19	Common Stock	F	596	$76.26	Disposed	2416	Direct
2021-02-19	Common Stock	M	718	—	Acquired	3134	Direct
2021-02-19	Common Stock	F	315	$76.26	Disposed	2819	Direct
2021-02-19	Common Stock	M	344	—	Acquired	3163	Direct
2021-02-19	Common Stock	D	344	$76.26	Disposed	2819	Direct
2021-02-19	Common Stock	M	344	—	Acquired	3163	Direct
2021-02-19	Common Stock	F	153	$76.26	Disposed	3010	Direct
2021-02-19	Common Stock	A	209	—	Acquired	3219	Direct
2021-02-19	Common Stock	F	94	$76.26	Disposed	3125	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-19	Restricted Stock Units	$	M	2464	Disposed		Common Stock (2464)	Direct
2021-02-19	Restricted Stock Units	$	M	718	Disposed		Common Stock (718)	Direct
2021-02-19	Restricted Stock Units	$	M	688	Disposed		Common Stock (688)	Direct

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, 50% in common stock and 50% in cash, or 100% in cash.

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 granted in connection with the 2018, 2019 and 2020 Restricted Stock Unit grants.

F4: The Restricted Stock Units award was granted and was effective on October 17, 2018, and vests as follows: 1,232 shares vested on February 20, 2019; 1,846 shares vested on February 20, 2020; and 2,464 shares vested on February 19, 2021.

F5: The Restricted Stock Units award was granted and was effective in February 2019, and vests in four equal, annual installments beginning on February 20, 2020.

F6: The Restricted Stock Units award was granted and was effective in February 2020, and vests in four equal, annual installments beginning on February 19, 2021.