Pinnacle West (PNW) EVP Jacob Tetlow granted 5,464 restricted stock units

Rhea-AI Filing Summary

Tetlow Jacob reported acquisition or exercise transactions in this Form 4 filing.

Pinnacle West Capital executive Jacob Tetlow received an equity award in the form of 5,464 Restricted Stock Units on February 17, 2026. Each unit represents the economic equivalent of one share of common stock and will be settled in stock when it vests.

The award vests in four equal annual installments beginning on February 20, 2027, providing long-term incentive compensation. From the grant date until vesting, Tetlow will also receive dividend equivalents as additional Restricted Stock Units, which, once vested, will be paid in cash.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Tetlow Jacob

Role Insider

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	5,464	$0.00	--

Holdings After Transaction: Restricted Stock Units — 5,464 shares (Direct)

Footnotes (1)

1. On February 17, 2026, the recipient received the number specified above of Restricted Stock Units and related Dividend Equivalents. 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 common stock. When the Company declares a cash dividend on its stock from the date of grant until the applicable vesting date, the recipient will be credited with additional Restricted Stock Units in satisfaction of the Dividend Equivalents Award. Vested Restricted Stock Units in satisfaction of the Dividend Equivalents Award will be made in cash. The Restricted Stock Units award was granted and was effective in February 2026, and vests in four equal, annual installments beginning on February 20, 2027.

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^*

Tetlow Jacob

(Last) (First) (Middle)

400 N. 5TH STREET

(Street)

PHOENIX AZ 85004

(City) (State) (Zip)

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

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

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			EVP, COO, APS

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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

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

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

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

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
Restricted Stock Units	(1)	02/17/2026		A		5,464		(2)	(2)	Common Stock	5,464	(1)	5,464	D

Explanation of Responses:

1. On February 17, 2026, the recipient received the number specified above of Restricted Stock Units and related Dividend Equivalents. 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 common stock. When the Company declares a cash dividend on its stock from the date of grant until the applicable vesting date, the recipient will be credited with additional Restricted Stock Units in satisfaction of the Dividend Equivalents Award. Vested Restricted Stock Units in satisfaction of the Dividend Equivalents Award will be made in cash.

2. The Restricted Stock Units award was granted and was effective in February 2026, and vests in four equal, annual installments beginning on February 20, 2027.

Remarks:

	/s/ Melissa Sallee, Attorney-in-Fact	02/19/2026
	** 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.

FAQ

What insider transaction did PNW executive Jacob Tetlow report on this Form 4?

Jacob Tetlow reported receiving an award of 5,464 Restricted Stock Units in February 2026. These units represent deferred equity compensation tied to Pinnacle West Capital’s common stock and are designed to align his interests with long-term shareholder value.

How do the 5,464 Restricted Stock Units granted to PNW’s Jacob Tetlow vest?

The 5,464 Restricted Stock Units granted to Jacob Tetlow vest in four equal annual installments. Vesting begins on February 20, 2027, meaning 25% of the award vests each year over a four-year period.

What does each Restricted Stock Unit represent for PNW’s Jacob Tetlow?

Each Restricted Stock Unit represents the economic equivalent of one share of Pinnacle West Capital common stock. When the units vest, they will be settled in actual shares of common stock delivered to Jacob Tetlow.

How are dividend equivalents handled on Jacob Tetlow’s PNW Restricted Stock Units?

From grant until vesting, cash dividends declared on Pinnacle West Capital stock generate additional Restricted Stock Units for Jacob Tetlow as dividend equivalents. When those dividend-equivalent units vest, they are settled and paid out in cash.

Is the February 2026 PNW Form 4 for Jacob Tetlow a stock purchase or a compensation grant?

The February 2026 Form 4 reflects a compensation grant, not an open-market stock purchase. Jacob Tetlow acquired 5,464 Restricted Stock Units as part of his equity-based pay, awarded at a reported price of $0.0000 per unit.