---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-030516"
form_type: "8-K"
ticker: "PNW"
cik: "0000764622"
company_name: "PINNACLE WEST CAPITAL CORP"
filed_at: "2024-03-04T23:59:59+00:00"
generated_at: "2026-06-05T05:07:32.612425+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Pinnacle West enters forward sale agreements for 11.24M shares at $64.505/share

## Summary
- Forward sale agreements for 11,240,601 common shares; initial forward price $64.505.
- Settlement may occur at company's discretion up to September 4, 2025.
- Underwriters exercised option to purchase an additional 1,466,165 shares.
- Shares sold to underwriters on March 4, 2024; company to receive proceeds upon forward settlement.

## SEC filing metadata
- accession: 0001104659-24-030516
- form_type: 8-K
- ticker: PNW
- cik: 0000764622
- company_name: PINNACLE WEST CAPITAL CORP
- filed_at: 2024-03-04T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764622/000110465924030516/0001104659-24-030516-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764622/000110465924030516/tm2330082d7_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-030516
- JSON: https://secwatch.observer/filing/0001104659-24-030516.json
- Plain text: https://secwatch.observer/filing/0001104659-24-030516.txt

## Key facts
- Material Agreements
  PINNACLE WEST CAPITAL CORP entered into Forward Sale Agreements with Mizuho Markets Americas LLC and Wells Fargo Bank, National Association valued at aggregate of 9,774,436 shares of common stock; aggregate of 1,466,165 shares under Additional Forwar (effective 2024-02-28).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Mizuho Markets Americas LLC and Wells Fargo Bank, National Association
  - Value: aggregate of 9,774,436 shares of common stock; aggregate of 1,466,165 shares under Additional Forwar
  - Effective: 2024-02-28
  source text: On February 28, 2024, Pinnacle West Capital Corporation (“Pinnacle West” or the “Company”) entered into separate forward sale agreements (each, a “Forward Sale Agreement” and, together, the “Forward Sale Agreements”) with Mizuho Markets Americas LLC and Wells Fargo Bank, National Association (each, a “Forward Purchaser” and, together, the “Forward Purchasers”), relating to an aggregate of 9,774,436 shares of the Company’s common stock, no par value (the “common stock”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/764622/000110465924030516/0001104659-24-030516-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.