Ronald Butler Jr. - 21 May 2025 Form 4 Insider Report for PINNACLE WEST CAPITAL CORP (PNW)

Role: Director
Signature: /s/ Diane Wood, Attorney-in-Fact
Issuer symbol: PNW
Transactions as of: 21 May 2025
Net transactions value: $0
Form type: 4
Filing time: 22 May 2025, 18:09:46 UTC
Previous filing: 02 Aug 2024
Next filing: 02 Feb 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Butler Ronald Jr	Director	400 N. 5TH STREET, PHOENIX	/s/ Diane Wood, Attorney-in-Fact	22 May 2025	0002010249

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		-1,783	-50%		1,783	21 May 2025	Common Sock	1,783		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 21, 2025 and will be settled in shares of common stock. The reporting person elected to defer settlement until second anniversary in which the reporting person separates from service from the Company.