Form 4: Pinnacle West Capital Corp Executive Reports Stock Transactions

Robert Edgar Smith, EVP, CLO, and CDO of Pinnacle West Capital Corp, reports acquisition and disposal of common stock related to performance share vesting and tax withholding.

Summary

• On March 18, 2025, Robert Edgar Smith, an executive at Pinnacle West Capital Corp, reported transactions involving the company's common stock.
• Smith acquired 17,898 shares upon the vesting of performance shares granted in 2022, tied to total shareholder return, earnings per share growth, and clean megawatts installed metrics.
• He also disposed of 2,261 shares representing the cash settlement of performance shares received in connection with dividend equivalent rights at a price of $93.38 per share.
• Additionally, 6,468 shares were retained by the company to cover tax withholding requirements at a price of $93.38 per share.
• Following these transactions, Smith directly owns 18,328 shares of Pinnacle West Capital Corp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transactions are routine and related to compensation and tax obligations. There is no indication of unusual activity or concern.

Positives

• The vesting of performance shares indicates that the company has met certain performance targets related to shareholder return, earnings per share growth, and clean energy initiatives.
• The executive's continued direct ownership of 18,328 shares suggests confidence in the company's future performance.

Negatives

• The disposal of shares for tax withholding purposes and cash settlement of dividend equivalent rights reduces the executive's overall holdings, although this is a common practice.

Industry Context

Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's valuation and future prospects. Form 4 filings are a standard part of regulatory compliance for publicly traded companies.

Comparison to Industry Standards

• Executive compensation packages often include performance-based equity awards, aligning management's interests with those of shareholders.
• Tax withholding practices related to equity compensation are standard across publicly traded companies.
• Monitoring executive stock transactions is a common practice among investors to gauge sentiment and potential future performance.

Stakeholder Impact

• The vesting of performance shares can be viewed positively by shareholders as it indicates the company has achieved certain performance goals.
• The tax withholding requirements impact the executive's net compensation, but this is a standard practice.

Key Dates

Keywords

Pinnacle West Capital Corp, Robert Edgar Smith, Form 4, Stock Transactions, Performance Shares, Dividend Equivalent Rights, Tax Withholding, Beneficial Ownership