Form 4: Pinnacle West Capital Corp SVP & CFO Andrew Cooper Reports Stock Transactions

Andrew Cooper, SVP & CFO of Pinnacle West Capital Corp, reports acquisition and disposal of common stock related to vesting performance shares and tax withholding.

Summary

• Andrew Cooper, the SVP & CFO of Pinnacle West Capital Corp, filed a Form 4 detailing changes in beneficial ownership.
• On October 22, 2024, Cooper acquired 811 shares of common stock upon the vesting of performance shares granted in 2021, tied to an operational performance metric.
• On the same day, 340 shares were disposed of to cover tax withholding requirements at a price of $88.12 per share.
• Cooper also acquired 121 shares of common stock in settlement of dividend rights that vested with the performance shares.
• An additional 51 shares were disposed of for tax withholding related to the dividend shares at a price of $88.12 per share.
• Following these transactions, Cooper directly owns 4,543 shares of Pinnacle West Capital Corp common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as the filing primarily reflects routine transactions related to executive compensation and tax obligations. The vesting of performance shares is a slightly positive indicator.

Positives

• The vesting of performance shares suggests the achievement of operational performance metrics.

Industry Context

Form 4 filings are standard disclosures required by the SEC for corporate insiders, providing transparency into their trading activities and ownership positions in their companies.

Stakeholder Impact

• The transactions have a minor impact on shareholders as they reflect routine executive compensation adjustments.

Key Dates