Form 4: PNW Executive Blankenship Reports Stock Transactions

Pinnacle West Capital Corp's VP, Controller and CAO, Elizabeth A. Blankenship, reported the vesting of performance shares and subsequent dispositions for tax and cash settlement.

Summary

• Elizabeth A. Blankenship, VP, Controller and CAO of Pinnacle West Capital Corp (PNW), reported transactions involving common stock.
• Acquired 3,098 shares of common stock on March 18, 2026, upon the vesting of performance shares granted in 2023.
• These performance shares were tied to total shareholder return, earnings per share growth, clean megawatts installed metrics, and dividend equivalent rights.
• Disposed of 373 shares for cash settlement related to dividend equivalent rights at a price of $100.92 per share.
• Disposed of an additional 733 shares, which were retained by the company for tax withholding purposes, also at $100.92 per share.
• Following these transactions, Blankenship directly owns 11,866 shares of common stock and indirectly owns 54 shares via a 401(k) plan.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as slightly positive because the vesting of performance shares indicates the company met its performance targets, which is a good sign for operational execution, despite the subsequent share dispositions.

Positives

• The vesting of 3,098 performance shares indicates the achievement of specific company performance metrics (total shareholder return, EPS growth, clean megawatts installed) set in 2023.

Negatives

• A total of 1,106 shares were disposed of (373 for cash settlement and 733 for tax withholding), reducing direct beneficial ownership.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that the vesting of performance shares and subsequent dispositions for tax and cash settlement are standard practices in executive compensation across various industries, reflecting the achievement of pre-defined corporate performance targets.

Comparison to Industry Standards

• The structure of performance-based equity awards tied to metrics like total shareholder return, EPS growth, and clean energy targets is a common practice in the utility sector and broader corporate landscape, aligning executive incentives with company performance and strategic goals.
• The disposition of shares for tax withholding is a universal practice for equity compensation, ensuring compliance with tax obligations upon vesting.
• Cash settlement of dividend equivalent rights is also a standard component of many equity compensation plans.

Related Party Transactions

• The transactions involve an officer of Pinnacle West Capital Corp and the company's common stock as part of an executive compensation plan.

Stakeholder Impact

• Shareholders: Minimal direct impact. The vesting of performance shares suggests the company met its performance goals, which is generally positive. The dispositions are routine for executive compensation.
• Employees: No direct impact mentioned.
• Customers: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Creditors: No direct impact mentioned.

Key Dates

Keywords

Pinnacle West Capital Corp, PNW, Form 4, Insider Trading, Executive Compensation, Stock Vesting, Performance Shares, Elizabeth A. Blankenship, Common Stock, Share Disposition