Adam C. Heflin - Feb 17, 2023 Form 4 Insider Report for PINNACLE WEST CAPITAL CORP (PNW)

Role
EVP & CNO, APS
Signature
/s/ Diane Wood, Attorney-in-Fact
Stock symbol
PNW
Transactions as of
Feb 17, 2023
Transactions value $
-$155,082
Form type
4
Date filed
2/21/2023, 07:06 PM
Previous filing
Jun 13, 2022
Next filing
Feb 23, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PNW Common Stock Options Exercise +1.19K 1.19K Feb 17, 2023 Direct F1
transaction PNW Common Stock Disposed to Issuer -$3.08K -41 -3.43% $75.10 1.15K Feb 17, 2023 Direct F2
transaction PNW Common Stock Tax liability -$37.2K -495 -42.93% $75.10 658 Feb 17, 2023 Direct F3
transaction PNW Common Stock Options Exercise +3.32K +504.1% 3.98K Feb 17, 2023 Direct F1
transaction PNW Common Stock Disposed to Issuer -$8.64K -115 -2.89% $75.10 3.86K Feb 17, 2023 Direct F2
transaction PNW Common Stock Tax liability -$106K -1.41K -36.63% $75.10 2.45K Feb 17, 2023 Direct F3
holding PNW Common Stock 6 Feb 17, 2023 by 401K

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 -1.19K -24.99% 3.58K Feb 17, 2023 Common Stock 1.19K Direct F1, F4, F5, F6
transaction PNW Restricted Stock Units Options Exercise -3.32K -25% 9.95K Feb 17, 2023 Common Stock 3.32K Direct F1, F5, F7, F8
* 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 either in 100% shares of common stock or 100% in cash with respect to Restricted Stock Units received in connection with the settlement of dividend equivalent rights.
F2 Represents the cash settlement of Restricted Stock Units received in connection with the settlement of dividend equivalent rights.
F3 Shares retained by the Company for the purpose of meeting tax withholding requirements. The recipient retained all other shares.
F4 The number of derivative securities in Column 5 includes 41 vested Restricted Stock Units received in connection with the settlement of dividend equivalent rights. Dividend equivalent rights accrue with respect to these Restricted Stock Units when and as cash dividends are paid on the Company's common stock.
F5 The Restricted Stock Units award was granted and was effective in June 2022, and vests in four equal, annual installments beginning on February 20, 2023.
F6 Includes 125 Restricted Stock Units received in connection with the settlement of dividend equivalent rights.
F7 The number of derivative securities in Column 5 includes 115 vested Restricted Stock Units received in connection with the settlement of dividend equivalent rights. Dividend equivalent rights accrue with respect to these Restricted Stock Units when and as cash dividends are paid on the Company's common stock.
F8 Includes 345 Restricted Stock Units received in connection with the settlement of dividend equivalent rights.