Pinnacle West (PNW) director awarded 1,665 shares of common stock at $99.77

Rhea-AI Filing Summary

SPENCE WILLIAM H reported acquisition or exercise transactions in this Form 4 filing.

Pinnacle West Capital director William H. Spence received an award of 1,665 shares of Common Stock on May 14, 2026 at an indicated value of $99.77 per share. This was a compensation-related grant, not an open-market purchase. Following the award, he directly holds 6,291 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SPENCE WILLIAM H

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	1,665	$99.77	$166K

Holdings After Transaction: Common Stock — 6,291 shares (Direct, null)

Footnotes (1)

Key Figures

Shares granted: 1,665 shares Grant value per share: $99.77 per share Shares held after grant: 6,291 shares

3 metrics

Shares granted 1,665 shares Common Stock award to director on May 14, 2026

Grant value per share $99.77 per share Reported value for the 1,665-share award

Shares held after grant 6,291 shares Director’s direct ownership following the transaction

Key Terms

Form 4, Common Stock, Grant, award, or other acquisition, direct ownership

4 terms

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Grant, award, or other acquisition financial

""transaction_code_description": "Grant, award, or other acquisition""

direct ownership financial

""ownership_type": "direct""

Form 4 Insider Transactions: What Each Field Means →

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^*

SPENCE WILLIAM H

(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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/14/2026		A		1,665	A	$99.77	6,291	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

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)

FAQ

What insider transaction did Pinnacle West (PNW) disclose for William H. Spence?

Pinnacle West reported that director William H. Spence received an award of 1,665 shares of Common Stock. The grant was recorded at $99.77 per share, increasing his direct holdings to 6,291 shares following the transaction on May 14, 2026.

Was the Pinnacle West (PNW) Form 4 transaction a market purchase or a grant?

The Form 4 shows a grant or award acquisition, not an open-market purchase. Code “A” and the description “Grant, award, or other acquisition” indicate the 1,665 shares were granted as compensation rather than bought in the market by William H. Spence.

How many Pinnacle West (PNW) shares does William H. Spence hold after this grant?

After receiving the 1,665-share award, William H. Spence directly holds 6,291 Pinnacle West Common Stock shares. This total is reported in the Form 4 as “shares following transaction,” giving investors a snapshot of his updated direct ownership position.

What price per share is shown for the Pinnacle West (PNW) stock grant to William H. Spence?

The grant to William H. Spence is recorded at $99.77 per share. This figure reflects the indicated value used for reporting on the Form 4 and helps quantify the size of the compensation-related stock award he received on May 14, 2026.

What does transaction code “A” mean in the Pinnacle West (PNW) Form 4 filing?

Transaction code “A” in the Form 4 stands for a grant, award, or other acquisition of shares. In this case, it identifies William H. Spence’s 1,665 Pinnacle West shares as a compensation-related award rather than a discretionary market trade or sale.