Theodore N. Geisler - Apr 1, 2025 Form 4 Insider Report for PINNACLE WEST CAPITAL CORP (PNW)

Role: Chairman, CEO and President, Director
Signature: /s/ Diane Wood, Attorney-in-Fact
Stock symbol: PNW
Transactions as of: Apr 1, 2025
Transactions value $: $0
Form type: 4
Date filed: 4/2/2025, 06:05 PM
Previous filing: Mar 20, 2025
SEC: View on sec.gov

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	Award		-9.45K	-100%		0	Apr 1, 2025	Common Stock	9.45K		Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	On April 1, 2025, the recipient received the number specified above of Restricted Stock Units and the recipient also received related Dividend Equivalents grants. 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 in common stock. When the Company declares a cash dividend on its stock from the date of grant until the applicable vesting date, the recipient will be credited with additional Restricted Stock Units in satisfaction of the Dividend Equivalents Award. Vested Restricted Stock Units in satisfaction of the Dividend Equivalents Award will be made in cash.
F2	The Restricted Stock Units award was granted and was effective in April 2025, and vests in four equal, annual installments beginning on February 20, 2026.

Content

On April 1, 2025, the recipient received the number specified above of Restricted Stock Units and the recipient also received related Dividend Equivalents grants. 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 in common stock. When the Company declares a cash dividend on its stock from the date of grant until the applicable vesting date, the recipient will be credited with additional Restricted Stock Units in satisfaction of the Dividend Equivalents Award. Vested Restricted Stock Units in satisfaction of the Dividend Equivalents Award will be made in cash.

The Restricted Stock Units award was granted and was effective in April 2025, and vests in four equal, annual installments beginning on February 20, 2026.