Welcome to our dedicated page for Pinnacl West Cap SEC filings (Ticker: PNW), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Pinnacle West Capital Corporation filings document the reporting obligations of the holding company and Arizona Public Service, including combined Form 8-K reports filed or furnished by each registrant for its own information. Recent 8-K disclosures cover operating and financial results, earnings outlook materials, Regulation FD presentations, investor-meeting handouts, and the company’s NYSE-listed common stock.
Proxy filings describe shareholder voting matters, board governance, executive compensation, equity awards, pension-related compensation measures, and related annual meeting disclosures. The filing record also documents capital-structure information and regulatory-risk context for an Arizona electric utility business subject to energy, environmental, nuclear, tax and market-regulation requirements.
Pinnacle West Capital Chairman, CEO and President Theodore N. Geisler reported several equity-related transactions in company common stock. He received 24,287 shares on March 18, 2026 from the vesting of 2023 performance shares tied to total shareholder return, earnings per share growth, clean megawatts installed, and dividend-equivalent rights.
On the same date, 2,897 shares were returned to the company at $100.92 per share in connection with cash settlement of performance shares linked to dividend-equivalent rights. Another 8,954 shares were withheld by the company to cover tax obligations, while all remaining vested shares were retained.
Geisler then made a bona fide gift of 12,436 shares, transferring them to a revocable family trust. Following these moves, his direct holdings in common stock fell to zero, and his indirect holdings through the trust increased to 50,003 shares.
PINNACLE WEST CAPITAL CORP SVP Public Policy APS Jose Luis Esparza Jr reported compensation-related stock transactions in common stock. He received a grant of 3,712 shares at $0.00 per share tied to 2023 performance metrics, including total shareholder return, earnings per share growth, and clean megawatts installed, plus dividend-equivalent performance shares.
In connection with this vesting, 443 shares were disposed back to the company as a cash settlement of dividend-equivalent performance shares, and 1,402 shares were retained by the company to satisfy tax withholding at $100.92 per share. After these non-market transactions, Esparza directly holds 6,648 common shares.
Pinnacle West Capital SVP & CFO Andrew D. Cooper reported equity compensation activity involving company common stock. On March 18, 2026, he received 18,177 shares of common stock at $0.00 per share as a grant tied to 2023 performance share awards, including total shareholder return, earnings per share growth, clean megawatts installed, and dividend-equivalent rights.
On the same date, 2,160 shares were disposed of back to the company as a cash settlement of performance shares related to dividend-equivalent rights, and 6,704 shares were withheld by the company to cover tax obligations. After these transactions, Cooper directly held 29,053 shares of Pinnacle West Capital common stock.
Pinnacle West Capital senior vice president and general counsel Shirley A. Baum reported compensation-related stock transactions. She received 2,781 shares of common stock upon vesting of 2023 performance shares, then 327 shares were surrendered to the company and 1,052 shares were withheld to cover taxes at $100.92 per share. After these non‑market transactions, she directly holds 5,846 common shares.
Pinnacle West Capital Corporation and its utility subsidiary Arizona Public Service Company (APS) filed a Form 8-K to add exhibits tied to APS’s offering of $600,000,000 principal amount of 5.10% Notes due 2036 under an existing shelf registration.
An underwriting agreement, supplemental indenture, note form, legal opinion and additional information about issuance-related liabilities are included. APS estimates non-underwriting issuance and distribution expenses at $1,494,186, led by rating agency fees of $1,300,000, plus SEC fees, legal, accounting, printing and other administrative costs.
Pinnacle West Capital Corporation and Arizona Public Service Company filed an 8-K to share materials for March 2026 investor meetings outlining growth, investment, and regulatory plans. The company highlights a long-term EPS growth target of 5%-7% off the original 2024 midpoint, supported by a large capital program.
APS plans about $10.35 billion of capital investment from 2025-2028 to support system reliability, new gas generation, nuclear investment at Palo Verde, and major transmission projects, with rate base projected to grow under both ACC and FERC jurisdictions. The service territory continues to post strong sales growth, including 7.5% commercial and industrial sales growth in 2025 and long-term weather-normalized sales growth guidance of 5%-7% through 2030.
The materials describe a focus on affordability, including flat core O&M despite rapid customer growth and APS rates that have risen more slowly than Phoenix inflation. A 2025 APS rate case requests a net revenue increase of $580 million, a 13.99% day-one customer impact, based on an adjusted ACC rate base of $12.5 billion and a proposed 10.70% allowed ROE. The company also outlines an optimized 2026-2028 financing plan combining cash from operations, debt, and approximately $650 million of equity, alongside dividend growth (about 3.7% CAGR in annualized dividends per share) and an emphasis on maintaining investment-grade credit ratings.
Pinnacle West Capital Corporation, parent of Arizona Public Service (APS), provides an overview of its regulated electric utility business for the year ended December 31, 2025. The company reports consolidated assets of approximately $30 billion and derives essentially all revenue and earnings from APS.
APS serves about 1.4 million customers, recorded a 2025 peak demand of 8,648 MW, and notes that roughly 58% of its 2025 energy supply came from clean resources including nuclear, renewables, and demand-side management. The filing details a large resource mix centered on the Palo Verde nuclear plant, extensive solar and battery projects, long-term power purchase agreements, and plans for additional flexible natural gas generation. It also describes the April 2025 retirement of the coal-fired Cholla units, ongoing Four Corners coal operations, significant environmental and climate-related regulatory developments, and long-term obligations for nuclear decommissioning and coal ash management.
Pinnacle West Capital Corporation reported 2025 net income attributable to common shareholders of $616.5 million, or $5.05 per diluted share, slightly above $608.8 million, or $5.24 per diluted share, in 2024. Operating revenues rose to $5.34 billion from $5.12 billion as strong customer and sales growth offset higher fuel, interest and operating costs.
Fourth-quarter 2025 results improved to net income of $15.4 million, or $0.13 per diluted share, compared with a net loss of $6.8 million, or $0.06 per share, a year earlier. APS delivered 2.4% customer growth and 5.0% weather‑normalized retail electricity sales growth in 2025, driven by new residents, businesses and large commercial and manufacturing projects.
For 2026, the company estimates consolidated earnings of $4.55 to $4.75 per diluted share on a weather‑normalized basis and targets long‑term EPS growth of 5% to 7% off its original 2024 midpoint. Management highlighted continued infrastructure investment, a capital plan totaling about $10.35 billion for 2025‑2028 at APS, and an ongoing focus on reliability, wildfire mitigation and keeping customer bills as low as possible.
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.