Tetlow Jacob 4

What Happened

• Jacob Tetlow, EVP and COO of Pinnacle West Capital Corp (PNW / APS), was granted 5,464 Restricted Stock Units (RSUs) on February 17, 2026. The award is a derivative grant (not an open-market buy or sale) and will be settled in common stock when vested. No per-share price or immediate cash value is disclosed in the filing.

Key Details

• Transaction date: 2026-02-17; Form 4 filed 2026-02-19 (filed timely).
• Award type: Restricted Stock Units (derivative); amount: 5,464 RSUs.
• Vesting: Four equal annual installments beginning February 20, 2027.
• Dividend treatment: Dividend equivalents accrue as additional RSUs from grant date until vesting; vested dividend equivalents will be paid in cash (see footnote).
• Shares owned after the transaction: Not specified in the Form 4 filing.
• Footnotes: F1 describes RSU settlement and dividend equivalent treatment; F2 confirms grant effective Feb 2026 and the four-year vesting schedule.

Context

• RSU grants are standard executive compensation and do not represent an immediate purchase or sale of shares. These awards typically incentivize retention and align executives with shareholder interests as they vest over time.