Pinnacle West (PNW) VP exercises RSUs and withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Pinnacle West Capital VP, Controller and CAO Elizabeth A. Blankenship reported multiple equity compensation transactions dated February 20, 2026. She exercised Restricted Stock Units that convert into common stock at no exercise price and received shares accordingly.
Some of the newly issued common shares were surrendered back to the company and withheld at $98.34 per share to cover tax and related obligations, while she retained the remaining shares. After these transactions, she directly held 9,874 shares of common stock and indirectly held 54 shares through a 401(k) plan.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,989 shares exercised/converted
Mixed
17 txns
Insider
Blankenship Elizabeth A
Role
VP, Controller and CAO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 490 | $0.00 | -- |
| Exercise | Restricted Stock Units | 476 | $0.00 | -- |
| Exercise | Restricted Stock Units | 589 | $0.00 | -- |
| Exercise | Restricted Stock Units | 434 | $0.00 | -- |
| Exercise | Common Stock | 490 | $0.00 | -- |
| Disposition | Common Stock | 81 | $98.34 | $8K |
| Tax Withholding | Common Stock | 132 | $98.34 | $13K |
| Exercise | Common Stock | 476 | $0.00 | -- |
| Disposition | Common Stock | 54 | $98.34 | $5K |
| Tax Withholding | Common Stock | 136 | $98.34 | $13K |
| Exercise | Common Stock | 589 | $0.00 | -- |
| Disposition | Common Stock | 46 | $98.34 | $5K |
| Tax Withholding | Common Stock | 158 | $98.34 | $16K |
| Exercise | Common Stock | 434 | $0.00 | -- |
| Disposition | Common Stock | 16 | $98.34 | $2K |
| Tax Withholding | Common Stock | 113 | $98.34 | $11K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 9,111 shares (Direct);
Common Stock — 54 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 81 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 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 2023, and vests in four equal, annual installments beginning on February 20, 2024. Includes 60 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 16 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 51 Restricted Stock Units received in connection with the settlement of dividend equivalent rights.
FAQ
What insider transactions did PNW executive Elizabeth Blankenship report?
Elizabeth A. Blankenship reported exercising Restricted Stock Units into Pinnacle West common stock and related share dispositions. Several transactions converted RSUs at a zero exercise price, with portions of the resulting common shares surrendered to the company or withheld to satisfy tax obligations at $98.34 per share.
What types of securities were involved in the PNW Form 4 filing?
The filing involves Restricted Stock Units and the company’s common stock. RSUs represent a right to receive the economic equivalent of one common share and are settled 100% in shares. Several RSU tranches vested and were converted into common stock on February 20, 2026.
How do dividend equivalent rights affect Elizabeth Blankenship’s PNW RSUs?
Dividend equivalent rights accrue on her Restricted Stock Units when cash dividends are paid on Pinnacle West common stock. These rights are settled as additional RSUs, increasing her derivative holdings; specific footnotes note vested RSUs received from such dividend equivalent settlements in multiple award years.