X0306 4 2013-02-19 0 0000764622 PINNACLE WEST CAPITAL CORP PNW 0001521334 GULDNER JEFFREY B. 400 N. 5TH STREET PHOENIX AZ 85004 0 0 0 1 SVP, Cust. & Reg.-APS Common Stock 2013-02-19 4 A 0 1782 0.00 A 7316 D Common Stock 2013-02-19 4 F 0 845 54.98 D 6471 D Common Stock 2013-02-19 4 A 0 240 0.00 A 6711 D Common Stock 2013-02-19 4 F 0 103 54.98 D 6608 D Common Stock 100 I by 401(k) Restricted Stock Units 2013-02-19 4 A 0 2864 0.00 A Common Stock 2864 2864 D Shares acquired upon the vesting of a portion of the performance shares granted in 2010. 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 19, 2013. 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 vest and will be settled in four equal, annual installments beginning on February 20, 2014. /s/ Diane Wood, Attorney-in-Fact 2013-02-21