Pinnacle West Capital : Amendment to Initial Statement of Beneficial Ownership (Form 3/A)

Ownership Submission

FORM 3/A

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL 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 * Mountain Paul J 2. Date of Event Requiring Statement (Month/Day/Year) 2022-05-16 3. Issuer Name and Ticker or Trading Symbol PINNACLE WEST CAPITAL CORP [PNW] (Last) (First) (Middle) 400 N 5TH ST 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) VP, Finance and Treasurer / 5. If Amendment, Date Original Filed(Month/Day/Year) 2022-05-18 (Street) PHOENIX AZ 85004 6. Individual or Join/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security 2. Amount of Securities Beneficially Owned 3. Ownership Form: Direct (D) or Indirect (I) 4. Nature of Indirect Beneficial Ownership

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivate Security	2. Date Exercisable and Expiration Date	3. Title and Amount of Securities Underlying Derivative Security	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)	6. Nature of Indirect Beneficial Ownership
Date Exercisable	Expriation Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Director	10% Owner	Officer	Other
Mountain Paul J 400 N 5TH ST PHOENIX, AZ85004			VP, Finance and Treasurer

Signatures

/s/ Diane Wood, Attorney-in-Fact	2022-07-21
**Signature of Reporting Person	Date

Explanation of Responses:

(*)	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).
(1)	The restricted stock units vest and will be settled On February 20, 2023.
(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, 50% in common stock and 50% in cash, or 100% cash.
(3)	The Restricted Stock Units vest and will be settled as follows: 148 will vest on February 20, 2023 and February 20, 2024
(4)	The Restricted Stock Units vest and will be settled as follows: 288 will vest on February 20, 2023, February 20, 2024, and February 20, 2025
(5)	The Restricted Stock Units vest and will be settled as follows: 409 will vest on each of February 20, 2023, February 20, 2024, February 20, 2025, and February 20, 2026
(6)	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 in 100% shares of common stock.

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