Butler Ronald Jr 4

What Happened

• Ronald Butler Jr, a director of Pinnacle West Capital Corp (PNW), was reported as the recipient of 1,665 Stock Units that vested on May 14, 2026. The units are derivative awards (economic equivalent of common shares); no cash price or market value is reported on the Form 4. The Form 4 covering this vesting was filed on May 18, 2026.

Key Details

• Transaction date: 2026-05-14 (vested award). Form 4 filed: 2026-05-18.
• Transaction type/code: A — Award/Grant/Acquisition (derivative stock units).
• Shares/units received: 1,665 Stock Units; price: N/A (no cash purchase).
• Shares owned after transaction: Not specified in the filing.
• Footnote: Each Stock Unit equals one share of common stock. The units vested on May 14, 2026 and will be settled in shares, but the reporting person elected to defer settlement until the second anniversary of separation from service.
• Timeliness: Filing date (May 18) covers the May 14 vesting and appears to be within the two-business-day Form 4 reporting window.

Context

• This was a compensation-related vesting of stock units, not an open-market purchase or sale. Such vested units are routine for executives and directors and do not by themselves indicate a buy/sell decision. Because settlement is deferred, the shares were not immediately issued to the insider.