Form 4: Pinnacle West Capital Corp SVP & CFO Andrew D. Cooper Reports Changes in Beneficial Ownership

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

Summary

• On March 18, 2025, Andrew D. Cooper, SVP & CFO of Pinnacle West Capital Corp, reported changes in beneficial ownership of the company's common stock.
• Cooper acquired 14,296 shares of common stock upon the vesting of performance shares granted in 2022, tied to total shareholder return, earnings per share growth, and clean megawatts installed metrics, as well as dividend equivalent rights.
• Cooper disposed of 1,694 shares for cash settlement of performance shares received in connection with the settlement of dividend equivalent rights at a price of $93.38 per share.
• Additionally, 5,278 shares were withheld by the company to meet tax obligations at a price of $93.38 per share.
• Following these transactions, Cooper beneficially owns 15,049 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 positive sign, but the tax withholding is a neutral event.

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.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the alignment of management's interests with those of shareholders.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders and are comparable across all publicly traded companies.
• The metrics used for performance share vesting (total shareholder return, earnings per share growth, and clean megawatts installed) are common performance indicators in the utilities industry.

Stakeholder Impact

• The vesting of performance shares can positively impact shareholders by aligning management's interests with company performance.
• Tax withholding impacts the executive's net compensation.

Key Dates

Keywords

beneficial ownership, Form 4, Pinnacle West Capital Corp, Andrew D. Cooper, common stock, performance shares, dividend equivalent rights, tax withholding