Maria L Lacal Form 3 PINNACLE WEST CAPITAL / Maria L Lacal ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Lacal Maria L

(Last) (First) (Middle)

400 NORTH FIFTH STREET

MAIL STATION 8602

(Street)

PHOENIX AZ 85004

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
02/19/2020

3. Issuer Name and Ticker or Trading Symbol
PINNACLE WEST CAPITAL CORP [ PNW ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
EVP and CNO, PVGS, APS

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	19,666	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	(1)	Common Stock	447	(2)	D
Restricted Stock Units	(3)	(3)	Common Stock	754	(4)	D
Restricted Stock Units	(5)	(5)	Common Stock	1,167	(4)	D
Restricted Stock Units	(6)	(6)	Common Stock	1,324	(4)	D
Restricted Stock Units	(7)	(7)	Common Stock	2,064	(4)	D

Explanation of Responses:

1. The restricted stock units vest and will be settled on February 20, 2020.

2. Each Restricted Stock Unit represents a contingent right to receive the economic equivalent of one share of the Company's common stock. The Restricted Stock Units will be settled, at the reporting person's election, in 100% shares of common stock or 50% in common stock and 50% in cash.

3. The Restricted Stock Units vest and will be settled as follows: 377 will vest on each of February 20, 2020 and February 19, 2021.

4. Each Restricted Stock Unit represents a contingent right to receive the economic equivalent of one share of the Company's common stock. The Restricted Stock Units will be settled, at the reporting person's election, in 100% shares of common stock, 50% in common stock and 50% in cash, or 100% in cash.

5. The Restricted Stock Units vest and will be settled as follows: 389 will vest on each of February 20, 2020, February 19, 2021 and February 18, 2022.

6. The Restricted Stock Units vest and will be settled as follows: 331 will vest on each of February 20, 2020, February 19, 2021, February 18, 2022, and February 20, 2023.

7. The Restricted Stock Units vest and will be settled as follows: 516 will vest on each of February 19, 2021, February 18, 2022, February 20, 2023, and February 20, 2024.

Remarks:

	/s/ Maria L. Lacal	02/19/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.