X0306 4 2020-02-18 0 0000764622 PINNACLE WEST CAPITAL CORP PNW 0001628362 Smith Robert Edgar 400 NORTH FIFTH STREET MAIL STATION 8602 PHOENIX AZ 85004 0 1 0 0 SVP and General Counsel Restricted Stock Units 2020-02-18 4 A 0 2752 A Common Stock 2752 2752 D 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 100% shares of common stock, 50% in common stock and 50% in cash, or 100% in cash. The Restricted Stock Units award was granted and was effective on February 18, 2020, and vests in four equal, annual installments beginning on February 19, 2021, and will be settled in four equal, annual installments beginning February 19, 2021. /s/ Diane Wood, Attorney-in-Fact 2020-02-20