William H. Spence - May 18, 2022 Form 4 Insider Report for PINNACLE WEST CAPITAL CORP (PNW)

Role: Director
Signature: /s/ Diane Wood, Attorney-in-Fact
Stock symbol: PNW
Transactions as of: May 18, 2022
Transactions value $: $0
Form type: 4
Date filed: 5/20/2022, 03:14 PM
Previous filing: Apr 28, 2022
Next filing: Mar 15, 2023

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	Stock Units	Award		+1.88K			1.88K	May 18, 2022	Common Stock	1.88K		Direct	F1

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

Explanation of Responses:

Id	Content
F1	Each Stock Unit is the economic equivalent of one share of Pinnacle West common stock. The Stock Units vested on May 18, 2022 and, at the reporting person's election, will be settled in 100% shares of common stock, 50% in cash and 50% in common stock, or 100% in cash. The reporting person elected to defer settlement until the last business day of the month following the month in which the reporting person separates from service from the Company.

Content

Each Stock Unit is the economic equivalent of one share of Pinnacle West common stock. The Stock Units vested on May 18, 2022 and, at the reporting person's election, will be settled in 100% shares of common stock, 50% in cash and 50% in common stock, or 100% in cash. The reporting person elected to defer settlement until the last business day of the month following the month in which the reporting person separates from service from the Company.