Form 4: Pinnacle West Capital Corp Director Reports Changes in Beneficial Ownership

Theodore N. Geisler, a director at Pinnacle West Capital Corp, reports transactions involving common stock, including acquisition through vesting of performance shares and gifting shares to a family trust.

Summary

• On March 18, 2025, Theodore N. Geisler, a director at Pinnacle West Capital Corp, acquired 24,284 shares of common stock upon the vesting of performance shares granted in 2022.
• These performance shares were tied to total shareholder return performance, earnings per share growth, and clean megawatts installed metrics.
• Geisler also disposed of 3,060 shares for $93.38 each, representing the cash settlement of performance shares received in connection with dividend equivalent rights.
• Additionally, 8,883 shares were retained by the company for tax withholding requirements.
• Geisler gifted 12,341 shares to a revocable family trust.
• Following these transactions, Geisler directly owns 12,341 shares and indirectly owns 32,248 shares through the trust.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing detailing transactions. It doesn't inherently convey positive or negative sentiment.

Positives

• The vesting of performance shares indicates that the company met certain performance targets related to shareholder return, earnings per share growth, and clean energy initiatives.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company directors and their holdings in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders in publicly traded companies, ensuring transparency and compliance with SEC regulations.
• Similar filings are made by executives and directors at comparable companies like Edison International (EIX) and Sempra Energy (SRE) when they engage in transactions involving their company's stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders by slightly altering the ownership structure.
• The gifting of shares to a family trust could be seen as a long-term commitment to the company's success.

Key Dates

Keywords

beneficial ownership, Form 4, Pinnacle West Capital Corp, PNW, director, Theodore N. Geisler, common stock, performance shares, dividend equivalent rights, trust, insider trading