<SEC-DOCUMENT>0001628280-25-022474.txt : 20250506
<SEC-HEADER>0001628280-25-022474.hdr.sgml : 20250506
<ACCEPTANCE-DATETIME>20250506115754
ACCESSION NUMBER:		0001628280-25-022474
CONFORMED SUBMISSION TYPE:	144
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250506
DATE AS OF CHANGE:		20250506

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PINNACLE WEST CAPITAL CORP
		CENTRAL INDEX KEY:			0000764622
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				860512431
		STATE OF INCORPORATION:			AZ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		144
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	001-08962
		FILM NUMBER:		25916174

	BUSINESS ADDRESS:	
		STREET 1:		400 NORTH FIFTH STREET
		STREET 2:		MS 8695
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
		BUSINESS PHONE:		602 250 1000

	MAIL ADDRESS:	
		STREET 1:		400 NORTH FIFTH STREET
		STREET 2:		MS 8695
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AZP GROUP INC
		DATE OF NAME CHANGE:	19870506

REPORTING-OWNER:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mountain Paul J
		CENTRAL INDEX KEY:			0001929738
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		144

	MAIL ADDRESS:	
		STREET 1:		400 N 5TH ST
		CITY:			PHOENIX
		STATE:			AZ
		ZIP:			85004
</SEC-HEADER>
<DOCUMENT>
<TYPE>144
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <!-- Generated by Workiva -->
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001929738</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0000764622</issuerCik>
      <issuerName>Pinnacle West Capital Corporation</issuerName>
      <secFileNumber>001-08962</secFileNumber>
      <issuerAddress>
        <com:street1>400 North 5th Street</com:street1>
        <com:city>Phoenix</com:city>
        <com:stateOrCountry>AZ</com:stateOrCountry>
        <com:zipCode>85004</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>602-250-3985</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>Mountain Family Trust/Paul J. Mountain</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Officer</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>Wells Fargo</name>
        <address>
          <com:street1>2025 East Beltline S.E.</com:street1>
          <com:street2>Suite 501</com:street2>
          <com:city>Grand Rapids</com:city>
          <com:stateOrCountry>MI</com:stateOrCountry>
          <com:zipCode>49546</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>1503</noOfUnitsSold>
      <aggregateMarketValue>144147</aggregateMarketValue>
      <noOfUnitsOutstanding>71264947</noOfUnitsOutstanding>
      <approxSaleDate>05/06/2025</approxSaleDate>
      <securitiesExchangeName>NYSE</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/20/2018</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>95</amountOfSecuritiesAcquired>
      <paymentDate>02/20/2018</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>10/17/2018</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>187</amountOfSecuritiesAcquired>
      <paymentDate>10/17/2018</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/19/2019</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>166</amountOfSecuritiesAcquired>
      <paymentDate>02/19/2019</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/20/2019</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>144</amountOfSecuritiesAcquired>
      <paymentDate>02/20/2019</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>10/22/2019</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>179</amountOfSecuritiesAcquired>
      <paymentDate>10/22/2019</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>03/17/2020</acquiredDate>
      <natureOfAcquisitionTransaction>Stock received in connection with dividend reinvestment</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>42</amountOfSecuritiesAcquired>
      <paymentDate>03/17/2020</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>02/20/2024</acquiredDate>
      <natureOfAcquisitionTransaction>Stock issued in connection with awards granted under the Company's Long Term Incentive Plan</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>648</amountOfSecuritiesAcquired>
      <paymentDate>02/20/2024</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <securitiesToBeSold>
      <securitiesClassTitle>Common Stock</securitiesClassTitle>
      <acquiredDate>03/01/2024</acquiredDate>
      <natureOfAcquisitionTransaction>Stock received in connection with dividend reinvestment</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Pinnacle West Capital Corporation</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>42</amountOfSecuritiesAcquired>
      <paymentDate>03/01/2024</paymentDate>
      <natureOfPayment>N/A</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <remarks>Aggregate value based on 5/5/25 stock price. Number of shares outstanding as of 4/24/25. The filing of this Form 144 shall not be construed as an admission that the undersigned is an Affiliate of the Issuer.</remarks>
    <noticeSignature>
      <noticeDate>05/06/2025</noticeDate>
      <signature>/s/ Diane Wood, Attorney-in-Fact</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
