Pinnacle West (PNW) files Form 144 for 6,496-share sale via Wells Fargo

Rhea-AI Filing Summary

Pinnacle West Capital Corporation (PNW) submitted a Form 144 notice for the proposed sale of 6,496 shares of common stock, with an aggregate market value of $609,194.88. The sale is to be effected through Wells Fargo Advisors on the NYSE with an approximate sale date of 08/11/2025, against a reported 119,427,244 shares outstanding.

The shares were acquired on 03/18/2025 as stock issued under the company’s Long Term Incentive Plan. The filing reports no securities sold in the past three months by the person for whose account the sale is proposed. The notice includes the seller's representation that they are not aware of any undisclosed material adverse information about the issuer. The filing does not identify the selling individual or provide details on any trading plan.

Insights

Corporate Governance Expert

TL;DR: Routine LTIP-derived proposed sale of 6,496 shares (~$609k); disclosure is standard and provides no new material issuer information.

The Form 144 documents a proposed sale of equity that was originally issued as compensation under the company’s Long Term Incentive Plan on 03/18/2025. The use of a broker (Wells Fargo Advisors) and the listing of an approximate sale date of 08/11/2025 follow normal disclosure protocols. The filing expressly states there were no sales in the prior three months and contains the customary representation about the absence of undisclosed material adverse information. The filing omits the seller's identity and any reference to a trading plan.

Securities Analyst

TL;DR: Transaction appears non-material to market capitalization; 6,496 shares equal a small fraction of 119,427,244 outstanding shares.

Quantitatively, the proposed sale equals an aggregate market value of $609,194.88 against 119,427,244 shares outstanding, indicating a negligible change to overall share supply. The acquisition date is listed as 03/18/2025 and the securities were issued under the company’s LTIP, which suggests these were compensatory awards rather than open-market purchases. No prior three-month sales were reported for the account, and the filing includes the standard attestation regarding material information. There is no additional context on intent, timing beyond the approximate sale date, or beneficiary identity.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common Stock	Wells Fargo Advisors One North Jefferson Avenue St. Louis MO 63103	6496	609194.88	119427244	08/11/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common Stock	03/18/2025	Stock issued in connection with awards granted under the Company's Long Term Incentive Plan	Pinnacle West Capital Corporation			6496	03/18/2025	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did PNW report in this Form 144?

The filing notifies a proposed sale of 6,496 common shares with aggregate market value $609,194.88, to be sold via Wells Fargo Advisors on the NYSE approximately 08/11/2025.

When and how were the shares being sold acquired?

The shares were acquired on 03/18/2025 as stock issued under Pinnacle West Capital Corporation’s Long Term Incentive Plan (LTIP).

How many shares does PNW report outstanding?

The filing reports 119,427,244 shares outstanding.

Were there any securities sold in the past three months by this person?

The filing states Nothing to Report for securities sold during the past three months by the person for whose account the securities are to be sold.

Does the filing identify the selling individual or disclose a trading plan?

No. The filing does not identify the selling individual and does not disclose any trading plan; it includes the standard seller representation about material information.