X0306 4 2016-02-16 0 0000764622 PINNACLE WEST CAPITAL CORP PNW 0001226552 HATFIELD JAMES R 400 N. FIFTH STREET MS 8602 PHOENIX AZ 85004 0 1 0 0 EVP & CFO, PNW & APS Common Stock 2016-02-16 4 A 0 2997 0.00 A 2997 D Common Stock 2016-02-16 4 F 0 1196 67.25 D 1801 D Common Stock 2016-02-16 4 A 0 333 0.00 A 2134 D Common Stock 2016-02-16 4 F 0 131 67.25 D 2003 D Common Stock 2016-02-16 4 G 0 2003 0.00 D 0 D Common Stock 2016-02-16 4 G 0 2003 0.00 A 52633 I by trust Common Stock 2939 I by 401(k) Restricted Stock Units 2016-02-16 4 A 0 5056 0.00 A Common Stock 5056 5056 D Shares acquired upon the vesting of the portion of the performance shares granted in 2013 that were tied to the total shareholder return performance metric. Shares retained by the Company for the purpose of meeting tax withholding requirements. The recipient retained all other shares. Represents shares of common stock received by the individual in settlement of dividend rights that vested in connection with the performance shares that vested on February 16, 2016. The reporting person gifted the shares received on February 16, 2016 to a revocable family trust. Each Restricted Stock Unit represents a contingent right to receive the economic equivalent of one share of the Company's common stock. The Restricted Stock Units will be settled, at the reporting person's election, in shares of common stock or 50% in common stock and 50% in cash. The Restricted Stock Units award was granted and was effective on February 16, 2016, and vests in four equal, annual installments beginning on February 20, 2017, and will be settled in four equal, annual installments beginning February 20, 2017. /s/ Diane Wood, Attorney-in-Fact 2016-02-18