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: HATFIELD JAMES R (EVP, Chief Admin Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-19	Common Stock	M	565	—	Acquired	565	Direct
2021-02-19	Common Stock	D	565	$76.26	Disposed	0	Direct
2021-02-19	Common Stock	M	564	—	Acquired	564	Direct
2021-02-19	Common Stock	F	229	$76.26	Disposed	335	Direct
2021-02-19	Common Stock	A	96	—	Acquired	431	Direct
2021-02-19	Common Stock	F	47	$76.26	Disposed	384	Direct
2021-02-19	Common Stock	M	972	—	Acquired	1356	Direct
2021-02-19	Common Stock	D	972	$76.26	Disposed	384	Direct
2021-02-19	Common Stock	M	828	—	Acquired	1212	Direct
2021-02-19	Common Stock	D	828	$76.26	Disposed	384	Direct
2021-02-19	Common Stock	M	884	—	Acquired	1268	Direct
2021-02-19	Common Stock	D	884	$76.26	Disposed	384	Direct
2021-02-19	Common Stock	G	384	$0.00	Disposed	0	Direct
2021-02-19	Common Stock	G	384	$0.00	Acquired	24965	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-19	Restricted Stock Units	$	M	1129	Disposed		Common Stock (1129)	Direct
2021-02-19	Restricted Stock Units	$	M	972	Disposed		Common Stock (972)	Direct
2021-02-19	Restricted Stock Units	$	M	828	Disposed		Common Stock (828)	Direct
2021-02-19	Restricted Stock Units	$	M	884	Disposed		Common Stock (884)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	28	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, 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 2017 Restricted Stock Unit grant.

F4: The reporting person gifted the shares received on February 19, 2021 to a revocable family trust.

F5: The Restricted Stock Units award was granted and was effective in February 2017, and vests in four equal, annual installments beginning on February 20, 2018.

F6: The Restricted Stock Units award was granted and was effective in February 2018, and vests in four equal, annual installments beginning on February 20, 2019.

F7: 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.

F8: 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.