X0306 4 2020-02-20 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 Common Stock 2020-02-20 4 M 0 923 0.00 A 1261 D Common Stock 2020-02-20 4 D 0 923 101.09 D 338 D Common Stock 2020-02-20 4 M 0 923 0.00 A 1261 D Common Stock 2020-02-20 4 F 0 410 101.09 D 851 D Common Stock 2020-02-20 4 M 0 718 0.00 A 1569 D Common Stock 2020-02-20 4 F 0 320 101.09 D 1249 D Common Stock 2020-02-20 4 A 0 65 0.00 A 1314 D Common Stock 2020-02-20 4 F 0 30 101.09 D 1284 D Restricted Stock Units 2020-02-20 4 M 0 1846 D Common Stock 1846 2464 D Restricted Stock Units 2020-02-20 4 M 0 718 D Common Stock 718 2154 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. 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 granted in connection with the 2018 and 2019 Restricted Stock Unit grants. The Restricted Stock Units award was granted and was effective on October 17, 2018, and vests as follows: 1,232 vested on February 20, 2019; 1,846 shares vested on February 20, 2020; and 2,464 shares will vest on February 19, 2021. The Restricted Stock Units award was granted and was effective in February 2019, and vests in four equal, annual installments beginning on February 20, 2020. /s/ Diane Wood, Attorney-in-Fact 2020-02-24