Blankenship Elizabeth A 4

What Happened Elizabeth A. Blankenship, Vice President, Controller and Chief Accounting Officer of Pinnacle West Capital Corp (PNW), received a grant of 1,772 Restricted Stock Units (RSUs) on February 17, 2026. The filing shows this as an award (transaction code A); no cash changed hands and no per-share price is reported because this is a grant of derivative compensation that will convert to common stock when vested.

Key Details

• Transaction date: February 17, 2026 (filed Feb 19, 2026). Transaction code: A (award/grant).
• Award size: 1,772 RSUs; price listed as N/A (grant of units, not an open-market trade).
• Vesting: RSUs vest in four equal annual installments beginning February 20, 2027 (per footnote).
• Settlement: RSUs will be settled in common stock. Dividend equivalents credited as additional RSUs from grant date until vesting; vested dividend equivalents paid in cash.
• Shares owned after transaction: Not reported in the provided Form 4 excerpt.
• Timeliness: Filing appears timely (reported two days after the grant).

Context RSUs are a common form of executive compensation—this award represents a contingent right to receive shares in the future subject to vesting and does not represent an immediate buy or sell. Because vesting occurs over multiple years, the grant is primarily a retention/compensation event rather than an immediate market sentiment signal.