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: Blankenship Elizabeth A (VP, Controller and CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-19	Common Stock	M	63	—	Acquired	1498	Direct
2021-02-19	Common Stock	D	63	$76.26	Disposed	1435	Direct
2021-02-19	Common Stock	M	65	—	Acquired	1500	Direct
2021-02-19	Common Stock	D	65	$76.26	Disposed	1435	Direct
2021-02-19	Common Stock	M	56	—	Acquired	1491	Direct
2021-02-19	Common Stock	D	56	$76.26	Disposed	1435	Direct
2021-02-19	Common Stock	M	172	—	Acquired	1607	Direct
2021-02-19	Common Stock	F	56	$76.26	Disposed	1551	Direct
2021-02-19	Common Stock	A	7	—	Acquired	1558	Direct
2021-02-19	Common Stock	F	3	$76.26	Disposed	1555	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-02-19	Restricted Stock Units	$	M	63	Disposed		Common Stock (63)	Direct
2021-02-19	Restricted Stock Units	$	M	65	Disposed		Common Stock (65)	Direct
2021-02-19	Restricted Stock Units	$	M	56	Disposed		Common Stock (56)	Direct
2021-02-19	Restricted Stock Units	$	M	172	Disposed		Common Stock (172)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	54	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 2020 Restricted Stock Unit grant.

F4: 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.

F5: 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.

F6: 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.

F7: 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.