Form 4: Pinnacle West VP Reports RSU Vesting and Stock Transactions

Pinnacle West Capital Corp's VP, Controller, and CAO, Elizabeth A. Blankenship, reported the vesting of Restricted Stock Units and related stock transactions.

Summary

• Elizabeth A. Blankenship, VP, Controller, and CAO of Pinnacle West Capital Corp (PNW), reported multiple transactions involving common stock and Restricted Stock Units (RSUs).
• On February 20, 2026, Blankenship acquired a total of 1,989 shares of common stock through the vesting of various RSU awards (490, 476, 589, and 434 shares respectively).
• Concurrently, Blankenship disposed of 197 shares of common stock at a price of $98.34 per share for the cash settlement of dividend equivalent rights (81, 54, 46, and 16 shares).
• Additionally, 539 shares of common stock were disposed of at $98.34 per share to meet tax withholding requirements (132, 136, 158, and 113 shares).
• Following these transactions, Blankenship's direct beneficial ownership of common stock is 9,874 shares, with an additional 54 shares held indirectly through a 401(k) plan.
• The RSUs represent a contingent right to receive the economic equivalent of one share of the Company's common stock and will be settled entirely in shares.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral to slightly positive filing. The transactions are routine compensation events, reflecting the vesting of long-term incentives and the executive's continued ownership, which aligns interests with shareholders.

Positives

• The vesting of Restricted Stock Units indicates the fulfillment of long-term incentive compensation for a key executive.
• The executive's direct beneficial ownership of common stock increased to 9,874 shares after these transactions, demonstrating continued alignment with shareholder interests.

Negatives

• A total of 197 shares were disposed of for cash settlement of dividend equivalent rights, reducing direct share ownership.
• A total of 539 shares were disposed of to cover tax withholding obligations, which is a routine but dilutive event for the executive's direct holdings.

Future Outlook

The filing indicates ongoing vesting schedules for previously granted Restricted Stock Units, with awards granted in February 2022, 2023, 2024, and 2025 vesting in four equal annual installments. The remaining derivative securities beneficially owned by the executive include 482, 1,177, and 1,305 Restricted Stock Units, which will vest in future periods.

Industry Context

StockSavvy.ai notes that Form 4 filings are standard disclosures for insider transactions, providing transparency into executive stock ownership and compensation. The reported transactions, primarily related to RSU vesting and subsequent tax withholding and dividend equivalent settlements, are routine events in executive compensation packages within the utility sector, reflecting the long-term incentive structure common in publicly traded companies like Pinnacle West Capital Corp.

Stakeholder Impact

• Shareholders: The filing provides transparency into executive compensation and ownership, which can be a factor in assessing management alignment.
• Employees: The RSU vesting demonstrates the company's executive compensation structure, which may influence broader employee incentive programs.

Next Steps

• Future annual installments of Restricted Stock Units will continue to vest according to their respective schedules.

Key Dates

Keywords

Pinnacle West Capital Corp, PNW, Form 4, Insider Transaction, Restricted Stock Units, RSU Vesting, Common Stock, Executive Compensation, Beneficial Ownership