Flanagan Susan T. 4

What Happened
Susan T. Flanagan, a director of Pinnacle West Capital Corp. (PNW), had 1,665 Stock Units vest on May 14, 2026. The filing reports an award/grant (transaction code A) for 1,665 units (derivative securities). No per-share price or cash value is reported in the Form 4 because these were stock units that convert to shares rather than an open-market purchase or sale.

Key Details

• Transaction date: May 14, 2026 (reported on Form 4 filed May 18, 2026).
• Transaction type/code: Award/Grant (A) — 1,665 Stock Units (derivative).
• Price/Value: N/A on the filing (stock units are an economic equivalent of shares).
• Settlement: The Stock Units vested and "will be settled in shares of common stock." The reporting person elected to defer settlement until the last business day of the month following the month in which she separates from service.
• Shares owned after transaction: not specified in this filing.
• Filing timeliness: Form 4 filed with accession 0001628280-26-036013 on May 18, 2026 (the filing lists the May 14 vesting date).

Context
Stock unit vesting is a compensation event rather than a purchase or sale. It increases potential future share holdings once settled but does not necessarily indicate buying or selling intent. For retail investors, note this is a routine director compensation vesting; the units will convert to common shares when settled per the reporting person's deferred-settlement election.