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

Robert Edgar Smith, EVP, GC, and CDO of Pinnacle West Capital Corp, reports acquisition and disposal of common stock due to vesting of performance shares and tax withholding.

Summary

• On October 22, 2024, Robert Edgar Smith, an executive at Pinnacle West Capital Corp, reported changes in beneficial ownership of the company's common stock.
• Smith acquired 3,531 shares upon the vesting of performance shares granted in 2021, tied to an operational performance metric.
• Additionally, 528 shares were received in settlement of dividend rights that vested with the performance shares.
• The company retained 1,461 shares and 219 shares to cover tax withholding requirements related to the vesting of performance shares and dividend rights, respectively.
• Following these transactions, Smith directly owns 8,776 shares of Pinnacle West Capital Corp common stock.

Sentiment

Score: 5

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

Positives

• The vesting of performance shares indicates that the company met certain operational performance metrics.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Key Dates