<?xml version="1.0" encoding="UTF-8"?><own:edgarSubmission xmlns:com="http://www.sec.gov/edgar/common" xmlns:own="http://www.sec.gov/edgar/ownership">
  <!-- Generated by Workiva -->
  <own:headerData>
    <own:submissionType>144</own:submissionType>
    <own:filerInfo>
      <own:filer>
        <own:filerCredentials>
          <own:cik>0001780676</own:cik>
          <own:ccc>XXXXXXXX</own:ccc>
        </own:filerCredentials>
      </own:filer>
      <own:liveTestFlag>LIVE</own:liveTestFlag>



    </own:filerInfo>
  </own:headerData>
  <own:formData>
    <own:issuerInfo>
      <own:issuerCik>0000764622</own:issuerCik>
      <own:issuerName>Pinnacle West Capital Corporation</own:issuerName>
      <own:secFileNumber>001-08962</own:secFileNumber>
      <own:issuerAddress>
        <com:street1>400 North 5th Street</com:street1>
        <com:street2>PO Box 53999</com:street2>
        <com:city>Phoenix</com:city>
        <com:stateOrCountry>AZ</com:stateOrCountry>
        <com:zipCode>85004</com:zipCode>
      </own:issuerAddress>
      <own:issuerContactPhone>602-250-4402</own:issuerContactPhone>
      <own:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Elizabeth A Blankenship</own:nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <own:relationshipsToIssuer>
        <own:relationshipToIssuer>VP Controller and CAO</own:relationshipToIssuer>
      </own:relationshipsToIssuer>
    </own:issuerInfo>
    <own:securitiesInformation>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:brokerOrMarketmakerDetails>
        <own:name>Cerity Partners</own:name>
        <own:address>
          <com:street1>7659 E Pinnacle Peak Rd., Suite 100</com:street1>
          <com:city>Scottsdale</com:city>
          <com:stateOrCountry>AZ</com:stateOrCountry>
          <com:zipCode>85255</com:zipCode>
        </own:address>
      </own:brokerOrMarketmakerDetails>
      <own:noOfUnitsSold>980</own:noOfUnitsSold>
      <own:aggregateMarketValue>98803.6</own:aggregateMarketValue>
      <own:noOfUnitsOutstanding>121197234</own:noOfUnitsOutstanding>
      <own:approxSaleDate>08/07/2026</own:approxSaleDate>
      <own:securitiesExchangeName>NYSE</own:securitiesExchangeName>
    </own:securitiesInformation>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>02/20/2015</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>30</own:amountOfSecuritiesAcquired>
      <own:paymentDate>02/20/2015</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>02/19/2016</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>59</own:amountOfSecuritiesAcquired>
      <own:paymentDate>02/19/2016</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>02/17/2017</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>84</own:amountOfSecuritiesAcquired>
      <own:paymentDate>02/17/2017</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>02/20/2018</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>198</own:amountOfSecuritiesAcquired>
      <own:paymentDate>02/20/2018</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>02/20/2018</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>94</own:amountOfSecuritiesAcquired>
      <own:paymentDate>02/20/2018</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>10/17/2018</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>235</own:amountOfSecuritiesAcquired>
      <own:paymentDate>10/17/2018</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>02/19/2019</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>213</own:amountOfSecuritiesAcquired>
      <own:paymentDate>02/19/2019</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>02/20/2019</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>60</own:amountOfSecuritiesAcquired>
      <own:paymentDate>02/20/2019</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:securitiesToBeSold>
      <own:securitiesClassTitle>Common Stock</own:securitiesClassTitle>
      <own:acquiredDate>10/22/2019</own:acquiredDate>
      <own:natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long-Term Incentive Plan</own:natureOfAcquisitionTransaction>
      <own:nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</own:nameOfPersonfromWhomAcquired>
      <own:isGiftTransaction>N</own:isGiftTransaction>
      <own:amountOfSecuritiesAcquired>7</own:amountOfSecuritiesAcquired>
      <own:paymentDate>10/22/2019</own:paymentDate>
      <own:natureOfPayment>N/A</own:natureOfPayment>
    </own:securitiesToBeSold>
    <own:nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</own:nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <own:remarks>Aggregate value based on 8/06/26 stock price. Number of shares outstanding as of 7/28/26. The filing of this Form 144 shall not be construed as an admission that the undersigned is an Affiliate of the Issuer.</own:remarks>
    <own:noticeSignature>
      <own:noticeDate>08/07/2026</own:noticeDate>
      <own:signature>/s/ Elizabeth A Blankenship</own:signature>
    </own:noticeSignature>
  </own:formData>
</own:edgarSubmission>
