Pinnacle West Capital Corp: The Vanguard Group filed Amendment No. 15 to its Schedule 13G/A reporting beneficial ownership of 0 shares of Common Stock, representing 0%. The filing explains an internal realignment on January 12, 2026 that led Vanguard subsidiaries to report holdings separately. The amendment is signed on March 27, 2026 by Ashley Grim, Head of Global Fund Administration.
Pinnacle West Capital executive Elizabeth A. Blankenship, VP, Controller and CAO, reported compensation-related stock activity in Common Stock on March 18, 2026. She received a grant of 3,098 shares upon vesting of performance shares granted in 2023, tied to total shareholder return, earnings per share growth, clean megawatts installed, and dividend-equivalent rights.
Of these and related performance share settlements, 373 shares were delivered back to the company as a cash settlement of performance shares received in connection with dividend-equivalent rights at 100.92 per share, and 733 shares were retained by the company to satisfy tax withholding requirements, with all remaining shares retained by the executive. Following these transactions, she directly holds 11,866 shares and indirectly holds 54 shares through a 401(k) plan.
Pinnacle West Capital EVP and COO of APS Jacob Tetlow reported a compensation-related stock transaction involving performance shares. He acquired 20,879 shares of common stock upon vesting of 2023 performance share awards tied to total shareholder return, earnings per share growth, clean megawatts installed, and dividend-equivalent rights.
Of the vested shares, 2,490 were settled in cash to the company and 7,880 shares were retained by the company to cover tax withholding obligations, while Tetlow kept the remaining shares. After these transactions, he directly owns 13,201 common shares and indirectly holds 2,467 shares through a 401(k) plan.
Pinnacle West Capital EVP & Chief Nuclear Officer Adam C. Heflin reported equity compensation and related share dispositions. He acquired 22,157 shares of common stock at no cost through 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, 2,642 shares were delivered back to the company as a cash settlement of performance shares received from dividend-equivalent rights, and 8,364 shares were retained by the company to cover tax withholding obligations, with Heflin retaining the remaining shares from the award. Following these transactions, he directly holds 39,471 common shares and has an additional 6 shares held indirectly in a trust.
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.