--- schema_version: "secwatch.filing_event.v1" accession: "0000764622-23-000067" form_type: "8-K" ticker: "PNW" cik: "0000764622" company_name: "PINNACLE WEST CAPITAL CORP" filed_at: "2023-05-19T23:59:59+00:00" generated_at: "2026-06-14T20:18:44.029153+00:00" event_type: "other_material" sentiment: "positive" materiality_score: 0.5 calibrated_materiality_score: 0.5 confidence: "high" source: SEC EDGAR --- # PNW shareholders approve 3.08M share increase to incentive plan, extend term to 2033 ## Summary - Shareholders approved First Amendment to 2021 Long-Term Incentive Plan: adds 3,082,390 shares, changes time-based vesting from 3 to 1 year, extends plan to June 1, 2033. - All 10 director nominees elected; broker non-votes of 8,139,499 shares on each director. - Advisory say-on-pay approved (88.1M for, 4.9M against); annual frequency chosen for future votes. - Ratification of Deloitte as independent auditor for 2023 passed with 93.5M votes for. - Shareholder proposal to separate Chairman and CEO roles defeated (22.0M for, 70.8M against). ## SEC filing metadata - accession: 0000764622-23-000067 - form_type: 8-K - ticker: PNW - cik: 0000764622 - company_name: PINNACLE WEST CAPITAL CORP - filed_at: 2023-05-19T23:59:59+00:00 - event_type: other_material - sentiment: positive - materiality_score: 0.5 - calibrated_materiality_score: 0.5 - confidence: high - sec_items: 5.02, 5.07, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/0000764622-23-000067-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/pnw-20230519.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000764622-23-000067 - JSON: https://secwatch.observer/filing/0000764622-23-000067.json - Plain text: https://secwatch.observer/filing/0000764622-23-000067.txt ## Key facts - Shareholder Votes PINNACLE WEST CAPITAL CORP shareholders approved Ratification of appointment of Deloitte & Touche LLP as independent accountant at the 2023-05-17 meeting. - Proposal: auditor ratification - Outcome: passed - Meeting: 2023-05-17 source text: Item 5. The appointment of Deloitte & Touche LLP as independent accountant for the year ending December 31, 2023 was ratified, with the following votes cast: FOR AGAINST ABSTAIN 93,545,999 7,637,172 236,365 evidence_url: https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/0000764622-23-000067-index.htm - Shareholder Votes PINNACLE WEST CAPITAL CORP shareholders approved Election of directors at the 2023-05-17 meeting. - Proposal: director election - Outcome: passed - Meeting: 2023-05-17 source text: Item 1. The nominees listed below were elected directors with the respective votes set forth opposite their names: FOR WITHHELD BROKER NON-VOTE Glynis A. Bryan 92,350,002 930,035 8,139,499 Gonzalo A. de la Melena, Jr. 92,204,001 1,076,036 8,139,499 Richard P. Fox 90,933,051 2,346,986 8,139,499 Jeffrey B. Guldner 89,349,665 3,930,372 8,139,499 Kathryn L. Munro 88,679,500 4,600,537 8,139,499 Bruce J. Nordstrom 87,791,045 5,488,992 8,139,499 Paula J. Sims 91,982,503 1,297,534 8,139,499 William H. Spence 92,313,775 966,262 8,139,499 Kristine L. Svinicki 92,580,738 699,299 8,139,499 James E. Trevathan, Jr. 92,265,250 1,014,787 8,139,499 evidence_url: https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/0000764622-23-000067-index.htm - Shareholder Votes PINNACLE WEST CAPITAL CORP shareholders rejected Shareholder proposal requesting the Company to adopt a policy and amend the governing documents as necessary to separate the role of Chairman and Chief Executive Officer at the 2023-05-17 meeting. - Outcome: failed - Meeting: 2023-05-17 source text: Item 6. The shareholder proposal requesting the Company to adopt a policy and amend the governing documents as necessary to separate the role of Chairman and Chief Executive Officer was not approved, with the following votes cast: FOR AGAINST ABSTAIN BROKER NON-VOTE 21,966,421 70,819,948 493,668 8,139,499 evidence_url: https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/0000764622-23-000067-index.htm - Shareholder Votes PINNACLE WEST CAPITAL CORP shareholders approved First Amendment to the 2021 Plan at the 2023-05-17 meeting. - Proposal: equity plan - Outcome: passed - Meeting: 2023-05-17 source text: Item 4. The First Amendment to the 2021 Plan was approved, with the following votes cast: FOR AGAINST ABSTAIN BROKER NON-VOTE 86,109,782 6,783,889 386,366 8,139,499 evidence_url: https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/0000764622-23-000067-index.htm - Shareholder Votes PINNACLE WEST CAPITAL CORP shareholders approved Advisory vote on the frequency of the advisory vote on executive compensation at the 2023-05-17 meeting. - Proposal: say on pay frequency - Outcome: passed - Meeting: 2023-05-17 source text: Item 3. The advisory vote on the frequency of the advisory vote on executive compensation favored an annual vote, with the following votes cast: 1 YEAR 2 YEARS 3 YEARS ABSTAIN BROKER NON-VOTE 91,241,199 171,888 1,628,973 237,977 8,139,499 evidence_url: https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/0000764622-23-000067-index.htm - Shareholder Votes PINNACLE WEST CAPITAL CORP shareholders approved Advisory resolution to approve executive compensation at the 2023-05-17 meeting. - Proposal: say on pay - Outcome: passed - Meeting: 2023-05-17 source text: Item 2. The advisory resolution to approve executive compensation, as disclosed in the Proxy Statement, was approved, with the following votes cast: FOR AGAINST ABSTAIN BROKER NON-VOTE 88,057,257 4,873,328 349,452 8,139,499 evidence_url: https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/0000764622-23-000067-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.