Pinnacle West (NYSE: PNW) EVP Tetlow exercises RSUs, disposes shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Pinnacle West Capital EVP and COO Jacob Tetlow reported multiple equity award transactions in the form of Restricted Stock Units and common stock on February 20, 2026. Several RSU awards were exercised and settled in shares, consistent with footnotes stating each unit equals one share of common stock and includes dividend-equivalent units tied to cash dividends. To cover tax obligations and issuer-related settlements, Tetlow delivered portions of the common shares back to the company at $98.34 per share under disposition and tax-withholding codes. After these transactions, he held 2,692 common shares directly and 2,471 shares indirectly through a 401(k), reflecting a mix of award vesting, tax withholding, and ongoing ownership rather than open-market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
5,109 shares exercised/converted
Mixed
17 txns
Insider
Tetlow Jacob
Role
Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 781 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,408 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,531 | $0.00 | -- |
| Exercise | Restricted Stock Units | 1,389 | $0.00 | -- |
| Exercise | Common Stock | 781 | $0.00 | -- |
| Disposition | Common Stock | 127 | $98.34 | $12K |
| Tax Withholding | Common Stock | 294 | $98.34 | $29K |
| Exercise | Common Stock | 1,408 | $0.00 | -- |
| Disposition | Common Stock | 168 | $98.34 | $17K |
| Tax Withholding | Common Stock | 532 | $98.34 | $52K |
| Exercise | Common Stock | 1,531 | $0.00 | -- |
| Disposition | Common Stock | 120 | $98.34 | $12K |
| Tax Withholding | Common Stock | 605 | $98.34 | $59K |
| Exercise | Common Stock | 1,389 | $0.00 | -- |
| Disposition | Common Stock | 54 | $98.34 | $5K |
| Tax Withholding | Common Stock | 573 | $98.34 | $56K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 837 shares (Direct);
Common Stock — 2,471 shares (Indirect, by 401(k))
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 127 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 number of derivative securities in Column 5 includes 168 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 167 Restricted Stock Units received in connection with the settlement of dividend equivalent rights. The number of derivative securities in Column 5 includes 120 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 239 Restricted Stock Units received in connection with the settlement of dividend equivalent rights. The number of derivative securities in Column 5 includes 54 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 160 Restricted Stock Units received in connection with the settlement of dividend equivalent rights.
FAQ
What insider equity transactions did PNW executive Jacob Tetlow report?
Jacob Tetlow reported exercises of Restricted Stock Units and related common stock movements on February 20, 2026. Awards were settled in shares, with some stock delivered back to Pinnacle West for issuer settlements and tax withholding, while he retained a substantial direct and indirect share position.
What do the RSU footnotes mean in Jacob Tetlow’s PNW Form 4?
The footnotes explain that each Restricted Stock Unit equals one common share and is settled entirely in stock. They also note additional RSUs received from dividend-equivalent rights, which accrue when Pinnacle West pays cash dividends on its common shares, increasing Tetlow’s derivative award balances.
What is the significance of the dividend-equivalent RSUs for PNW executive Tetlow?
Dividend-equivalent RSUs increase Tetlow’s awards when Pinnacle West pays cash dividends. The filing states specific vested units were received this way, meaning his RSU balance grows over time as dividends are declared, and those units are eventually settled in additional common shares.