de la Melena Gonzalo A Jr 4

What Happened

• Gonzalo A. de la Melena Jr., a director of Pinnacle West Capital Corp. (PNW), had 1,665 Stock Units vest on May 14, 2026. These Stock Units are the economic equivalent of one share each and will be settled in common stock. The filing shows the award/vesting (derivative acquisition) and no cash purchase or sale occurred.

Key Details

• Transaction date: May 14, 2026 (reported on Form 4 filed May 18, 2026)
• Transaction type/code: A (award/vesting of derivative stock units)
• Number of units vested: 1,665 Stock Units (each equals one share)
• Price/amount: N/A (derivative award; no purchase price)
• Shares owned after transaction: Not disclosed on the filing
• Footnote: The reporting person elected to defer settlement of the vested Stock Units until the second anniversary of the date on which he separates from service with the company (i.e., shares will be issued later upon separation plus the two‑year deferral)
• Filing timeliness: Form 4 was filed May 18, 2026, which falls within the two business‑day filing window for a May 14 transaction

Context

• This was a vesting/award event (not a market buy or sale). Such deferred stock unit settlements are common compensation/retention arrangements for insiders and do not by themselves indicate a buy or sell signal.