Form 4: Pinnacle West Capital Corp: VP of Finance Paul J. Mountain Reports Changes in Beneficial Ownership

Paul J. Mountain, VP of Finance and Treasurer at Pinnacle West Capital Corp, reports changes in beneficial ownership of common stock due to vesting of performance shares, tax withholding, dividend rights settlement, and a gift to a revocable family trust.

Summary

• On October 22, 2024, Paul J. Mountain, VP of Finance and Treasurer at Pinnacle West Capital Corp, reported changes in his beneficial ownership of the company's common stock.
• He acquired 710 shares upon the vesting of performance shares granted in 2021, tied to an operational performance metric.
• An additional 106 shares were received in settlement of dividend rights that vested with the performance shares.
• The company retained 298 shares to cover tax withholding requirements at a price of $88.12 per share.
• Mountain gifted 473 shares to a revocable family trust.
• Following these transactions, Mountain directly owns 473 shares and indirectly owns 2,200 shares (2,023 through a trust and 277 through a 401K).

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing changes in beneficial ownership. It doesn't convey strong positive or negative sentiment, as it primarily reports transactions related to compensation and personal financial planning.

Positives

• The vesting of performance shares suggests the achievement of operational performance metrics set in 2021.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and directors. This filing indicates changes in ownership but doesn't necessarily reflect a change in the company's overall financial health or strategic direction.

Key Dates