Form 4: Pinnacle West Capital Corp Executive Adam C. Heflin Reports Changes in Beneficial Ownership

EVP & CNO of APS, Adam C. Heflin, reports acquisition and disposal of Pinnacle West Capital Corp shares on March 18, 2025, according to a Form 4 filing.

Summary

• Adam C. Heflin, EVP & CNO of APS, reported changes in beneficial ownership of Pinnacle West Capital Corp shares on March 18, 2025.
• He acquired 22,696 shares of common stock upon vesting of performance shares granted in 2022 at $0.
• He disposed of 2,635 shares of common stock for $93.38 per share related to cash settlement of dividend equivalent rights.
• The company retained 8,598 shares for tax withholding requirements at $93.38 per share.
• Following these transactions, Heflin directly owns 21,514 shares and indirectly owns 6 shares in trust.

Sentiment

Score: 6

Explanation: Neutral sentiment as the filing primarily reports routine transactions related to vesting of performance shares and tax obligations.

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.

Negatives

• The disposal of shares to cover tax obligations reduces Heflin's direct ownership in the company.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The vesting of performance shares may positively impact shareholder sentiment as it indicates the company achieved certain performance goals.

Key Dates

Keywords

beneficial ownership, Form 4, Pinnacle West Capital Corp, PNW, Adam C. Heflin, stock, shares, EVP & CNO, APS, vesting, performance shares, dividend equivalent rights, tax withholding