Andrew D. Cooper - 18 Feb 2022 Form 4 Insider Report for PINNACLE WEST CAPITAL CORP (PNW)

Role: VP & Treasurer
Signature: /s/ Diane Wood, Attorney-in-Fact
Issuer symbol: PNW
Transactions as of: 18 Feb 2022
Net transactions value: -$29,567
Form type: 4
Filing time: 23 Feb 2022, 12:51:11 UTC
Next filing: 24 Feb 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PNW	Common Stock	Options Exercise		+120	+179%		187	18 Feb 2022	Direct	F1
transaction	PNW	Common Stock	Disposed to Issuer	$8,270	-120	-64%	$68.92	67	18 Feb 2022	Direct
transaction	PNW	Common Stock	Options Exercise		+120	+179%		187	18 Feb 2022	Direct	F1
transaction	PNW	Common Stock	Tax liability	$3,928	-57	-30%	$68.92	130	18 Feb 2022	Direct	F2
transaction	PNW	Common Stock	Options Exercise		+165	+127%		295	18 Feb 2022	Direct	F1
transaction	PNW	Common Stock	Disposed to Issuer	$11,372	-165	-56%	$68.92	130	18 Feb 2022	Direct
transaction	PNW	Common Stock	Options Exercise		+164	+126%		294	18 Feb 2022	Direct	F1
transaction	PNW	Common Stock	Tax liability	$5,376	-78	-27%	$68.92	216	18 Feb 2022	Direct	F2
transaction	PNW	Common Stock	Award		+18	+8.3%		234	18 Feb 2022	Direct	F3
transaction	PNW	Common Stock	Tax liability	$620	-9	-3.8%	$68.92	225	18 Feb 2022	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PNW	Restricted Stock Units	Options Exercise		-240	-33%		480	18 Feb 2022	Common Stock	240		Direct	F1, F4
transaction	PNW	Restricted Stock Units	Options Exercise		-329	-25%		987	18 Feb 2022	Common Stock	329		Direct	F1, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 and 2021 Restricted Stock Unit grants.
F4	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.
F5	The Restricted Stock Units award was granted and was effective in February 2021, and vests in four equal, annual installments beginning on February 20, 2022.