<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <!-- Generated by Workiva -->
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001628362</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0000764622</issuerCik>
      <issuerName>Pinnacle West Capital Corporation</issuerName>
      <secFileNumber>001-08962</secFileNumber>
      <issuerAddress>
        <com:street1>400 North 5th Street</com:street1>
        <com:street2>P.O. Box53999</com:street2>
        <com:city>Phoenix</com:city>
        <com:stateOrCountry>AZ</com:stateOrCountry>
        <com:zipCode>85004</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>602-250-3958</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Robert E. Smith</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Officer</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>ETrade</name>
        <address>
          <com:street1>P.O. Box 484</com:street1>
          <com:city>Jersey City</com:city>
          <com:stateOrCountry>NJ</com:stateOrCountry>
          <com:zipCode>07303-0484</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>4950</noOfUnitsSold>
      <aggregateMarketValue>422334</aggregateMarketValue>
      <noOfUnitsOutstanding>113611506</noOfUnitsOutstanding>
      <approxSaleDate>08/09/2024</approxSaleDate>
      <securitiesExchangeName>NYSE</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/18/2022</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long TermIncentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>800</amountOfSecuritiesAcquired>
      <paymentDate>02/18/2022</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>12/01/2022</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Reinvest</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>79</amountOfSecuritiesAcquired>
      <paymentDate>12/01/2022</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/17/2023</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long TermIncentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>1298</amountOfSecuritiesAcquired>
      <paymentDate>02/17/2023</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/17/2023</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Equivalent</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>127</amountOfSecuritiesAcquired>
      <paymentDate>02/17/2023</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>03/01/2023</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Reinvest</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>85</amountOfSecuritiesAcquired>
      <paymentDate>03/01/2022</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>06/01/2023</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Reinvest</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>99</amountOfSecuritiesAcquired>
      <paymentDate>06/01/2023</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>10/17/2023</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long TermIncentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>1657</amountOfSecuritiesAcquired>
      <paymentDate>10/17/2023</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>10/17/2023</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Equivalent</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>279</amountOfSecuritiesAcquired>
      <paymentDate>10/17/2023</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/20/2024</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Equivalent</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>168</amountOfSecuritiesAcquired>
      <paymentDate>02/20/2024</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/20/2024</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long TermIncentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>287</amountOfSecuritiesAcquired>
      <paymentDate>02/20/2024</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>06/01/2022</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Reinvest</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>22</amountOfSecuritiesAcquired>
      <paymentDate>06/01/2022</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>03/01/2022</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Reinvest</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>13</amountOfSecuritiesAcquired>
      <paymentDate>03/01/2022</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>09/01/2022</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Reinvest</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>22</amountOfSecuritiesAcquired>
      <paymentDate>09/01/2022</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>12/01/2021</acquiredDate>
      <natureOfAcquisitionTransaction>Dividend Reinvest</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>14</amountOfSecuritiesAcquired>
      <paymentDate>12/01/2021</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <remarks>Aggregate value based on 8/6/24 stock price. Number of shares outstanding as of 7/25/24. The filing of this Form 144 shall not be construed as an admission that the undersigned is an Affiliate of the Issuer.</remarks>
    <noticeSignature>
      <noticeDate>08/09/2024</noticeDate>
      <signature>/s/ Robert E. Smith</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
