secwatch.observer — SEC 8-K summary
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Issuer:     PINNACLE WEST CAPITAL CORP (PNW)
CIK:        0000764622
Form:       8-K
Filed at:   2023-05-19T23:59:59+00:00
Accession:  0000764622-23-000067
Event type: other_material
Sentiment:  positive
Materiality: 0.50
Item codes: 5.02, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PNW shareholders approve 3.08M share increase to incentive plan, extend term to 2033
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- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/0000764622-23-000067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764622/000076462223000067/pnw-20230519.htm
  HTML page:      https://secwatch.observer/filing/0000764622-23-000067

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer