Pinnacle West director awarded 1,665 stock units

Butler Ronald Jr reported acquisition or exercise transactions in this Form 4 filing.

(Neutral)

(Neutral)How Sentiment works

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment works How the balance works

Form Type

Rhea-AI Filing Summary

Butler Ronald Jr reported acquisition or exercise transactions in this Form 4 filing.

Pinnacle West Capital director Ronald Butler Jr reported receiving a grant of 1,665 Stock Units, each economically equivalent to one share of common stock. The units vested on May 14, 2026 and will be settled in common shares, with settlement deferred until the second anniversary of his separation from the company.

This is a compensation-related award, not an open-market purchase or sale, and leaves Butler with 1,665 Stock Units directly owned after the transaction.

Insider Trade Summary

Grant/Award: 1,665 shares

Grant/Award 1 txn

Insider Butler Ronald Jr

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Units	1,665	$0.00	$0.00

Holdings After Transaction: Stock Units — 1,665 contracts (Direct)

Footnotes (1)

F1. Each Stock Unit is the economic equivalent of one share of Pinnacle West common stock. The Stock Units vested on May 14, 2026 and will be settled in shares of common stock. The reporting person elected to defer settlement until the second anniversary in which the reporting person separates from service from the Company.

Key Figures

Stock Units granted: 1,665 Stock Units Units after transaction: 1,665 Stock Units Economic equivalence: 1 Stock Unit = 1 share +1 more

4 metrics

Stock Units granted 1,665 Stock Units Grant to director Ronald Butler Jr on May 14, 2026

Units after transaction 1,665 Stock Units Total Stock Units held directly following the award

Economic equivalence 1 Stock Unit = 1 share Each Stock Unit equals one Pinnacle West common share economically

Vesting date May 14, 2026 Date on which the Stock Units vested

Key Terms

Stock Units, economic equivalent, settled in shares of common stock, deferr[ed] settlement

4 terms

Stock Units financial

"Each Stock Unit is the economic equivalent of one share of Pinnacle West common stock."

Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.

economic equivalent financial

"Each Stock Unit is the economic equivalent of one share of Pinnacle West common stock."

settled in shares of common stock financial

"The Stock Units vested on May 14, 2026 and will be settled in shares of common stock."

deferr[ed] settlement financial

"The reporting person elected to defer settlement until the second anniversary in which the reporting person separates from service from the Company."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Pinnacle West (PNW) director Ronald Butler Jr receive in this Form 4?

Ronald Butler Jr received a grant of 1,665 Stock Units, each equal in value to one Pinnacle West common share. The award is compensation, not a market trade, and was reported as an acquisition of derivative securities.

How many Pinnacle West (PNW) Stock Units were awarded to Ronald Butler Jr?

The filing shows a grant of 1,665 Stock Units to Ronald Butler Jr. Each Stock Unit is economically equivalent to one share of Pinnacle West common stock, providing equity-based compensation aligned with shareholder value.

When do Ronald Butler Jr’s Pinnacle West (PNW) Stock Units vest and settle?

The Stock Units vested on May 14, 2026 and will be settled in shares of common stock. Settlement is deferred until the second anniversary of the year in which Butler separates from service with the company.

Is Ronald Butler Jr buying or selling Pinnacle West (PNW) stock in this Form 4?

The Form 4 does not show any open-market buying or selling. It reports a grant of 1,665 Stock Units as compensation, categorized as a derivative acquisition rather than a purchase or sale of existing common shares.

How many Pinnacle West (PNW) Stock Units does Ronald Butler Jr hold after this transaction?

After this reported grant, Ronald Butler Jr holds 1,665 Stock Units directly. These units are derivative securities tied to Pinnacle West common stock and are scheduled for settlement in shares after his future separation from the company.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Accepted by SEC EDGAR 05/18/2026 - 04:56 PM EDT

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Butler Ronald Jr

(Last)

(First)

(Middle)

400 N. 5TH STREET

(Street)

PHOENIX

ARIZONA

85004

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PINNACLE WEST CAPITAL CORP [ PNW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Units	⁽¹⁾	05/14/2026		A		1,665		⁽¹⁾	⁽¹⁾	Common Stock	1,665	⁽¹⁾	1,665	D

Explanation of Responses:

1. Each Stock Unit is the economic equivalent of one share of Pinnacle West common stock. The Stock Units vested on May 14, 2026 and will be settled in shares of common stock. The reporting person elected to defer settlement until the second anniversary in which the reporting person separates from service from the Company.

Remarks:

	/s/ Melissa Sallee, Attorney-in-Fact	05/18/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR