Pinnacle West (NYSE: PNW) SVP converts RSUs, disposes shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Pinnacle West Capital Corp SVP and General Counsel Shirley A. Baum reported multiple equity award transactions dated February 20, 2026. She exercised several Restricted Stock Units, which each represent the right to receive one share of common stock and are settled entirely in shares, increasing her common stock holdings.
On the same date, a portion of the newly delivered common shares was disposed back to the company and withheld at a price of $98.34 per share to cover tax and other obligations, while the remainder was retained. After these acquisitions and related dispositions, Baum directly owned 4,444 shares of Pinnacle West common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,258 shares exercised/converted
Mixed
20 txns
Insider
Baum Shirley A
Role
SVP and GC
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 169 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 198 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 433 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 589 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 869 | $0.00 | -- |
| Exercise | Common Sock | 169 | $0.00 | -- |
| Disposition | Common Sock | 32 | $98.34 | $3K |
| Tax Withholding | Common Sock | 66 | $98.34 | $6K |
| Exercise | Common Sock | 198 | $0.00 | -- |
| Disposition | Common Sock | 32 | $98.34 | $3K |
| Tax Withholding | Common Sock | 80 | $98.34 | $8K |
| Exercise | Common Sock | 433 | $0.00 | -- |
| Disposition | Common Sock | 53 | $98.34 | $5K |
| Tax Withholding | Common Sock | 183 | $98.34 | $18K |
| Exercise | Common Sock | 589 | $0.00 | -- |
| Disposition | Common Sock | 46 | $98.34 | $5K |
| Tax Withholding | Common Sock | 241 | $98.34 | $24K |
| Exercise | Common Sock | 869 | $0.00 | -- |
| Disposition | Common Sock | 34 | $98.34 | $3K |
| Tax Withholding | Common Sock | 358 | $98.34 | $35K |
Holdings After Transaction:
Restricted Stock Unit — 0 shares (Direct);
Common Sock — 3,480 shares (Direct)
Footnotes (1)
- 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 100% shares of common stock. Represents the cash settlement of Restricted Stock Units received in connection with the settlement of dividend equivalent rights. Shares retained by the Company for purpose of meeting tax withholding requirements. The recipient retained all other shares. The number of derivative securities in Column 5 includes 32 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. The Restricted Stock Units award was granted and was effective in February 2022, and vests in four equal, annual installments beginning on February 20, 2023. The Restricted Stock Units award was granted and was effective in Mach 2022, and vests in four equal, annual installments beginning on February 20, 2023. The number of derivative securities in Column 5 includes 53 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. The Restricted Stock Units award was granted and was effective in February 2023, and vests in four equal, annual installments beginning on February 20, 2024. Includes 50 Restricted Stock Units received in connection with the settlement of dividend equivalent rights. The number of derivative securities in Column 5 includes 46 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. The Restricted Stock Units award was granted and was effective in February 2024, and vests in four equal, annual installments beginning on February 20, 2025. Includes 91 Restricted Stock Units received in connection with the settlement of dividend equivalent rights. The number of derivative securities in Column 5 includes 34 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. The Restricted Stock Units award was granted and was effective in February 2025, and vests in four equal, annual installments beginning on February 20, 2026. Includes 100 Restricted Stock Units received in connection with the settlement of dividend equivalent rights.
FAQ
What insider transactions did PNW SVP Shirley A. Baum report?
Shirley A. Baum reported exercising multiple Restricted Stock Units into Pinnacle West common stock and related share dispositions on February 20, 2026. Some shares were returned to the company or withheld to cover taxes, with the balance increasing her direct ownership position.
What are the Restricted Stock Units in the PNW Form 4 filing?
The Restricted Stock Units each represent a contingent right to receive the economic equivalent of one Pinnacle West common share. They are settled 100% in common stock as vesting conditions are met, with some awards vesting annually starting on specified February 20 dates in 2023, 2024, 2025, and 2026.
Were dividend equivalent rights involved in the PNW RSU transactions?
Yes. Several RSU positions include units received from dividend equivalent rights, which accrue when cash dividends are paid on Pinnacle West common stock. Some derivative security counts specifically include vested RSUs created through these dividend equivalents, which then settle in common shares alongside the underlying awards.