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FORM 5 OMB APPROVAL
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[ ] Check this box if no longer OMB Number 3235-0362
subject to Section 16. Form 4 Expires: December 31, 2001
or Form 5 obligations may continue. Estimated average burden
See Instruction 1(b). hours per response.............. 1.0
[ ] Form 3 Holdings Reported -------------------------------------
[X] Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the
Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Shultz Martin L.
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(Last) (First) (Middle)
400 N. 5th Street
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(Street)
Phoenix AZ 85004
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(City (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Pinnacle West Capital Corporation (PNW)
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3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
12/31/00
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5. If Amendment, Date of Original
(Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Vice President
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1.Title of Security 2.Trans- 3.Trans- 4.Securities Acquired (A) 5.Amount of 6.Owner- 7.Nature of
(Instr. 3) action action or Disposed of (D) Securities Ben- ship Indirect
Date Code (Instr. 3, 4 and 5) eficially Owned Form: Di- Beneficial
(Month/ (Instr.8) ------------------------ at end of rect (D) Ownership
Day/ (A) or Issuer's Fiscal or Indi- (Instr. 4)
Year) Amount (D) Price Year (Instr. 3 rect (I)
and 4) (Instr. 4)
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Common Stock 09/27/00 M4 479 A $31.44 D
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Common Stock 09/27/00 S4 1,521 D** $49.62 D
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Common Stock 09/27/00 M4 194 A $27.44 D
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Common Stock 09/27/00 S4 473 D** $49.62 D
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Common Stock 11/15/00 A 1,200 A $44.03 D
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Common Stock 12/18/00 F 53 D** $45.53 8,068.84 D
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Common Stock 5,703.39 I By 401(k)
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* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
** The minimum amount of shares were withheld solely for the purpose of meeting tax withholding
requirements. Mr. Shultz retained all other shares received upon the noted lapse of restrictions.
Potential persons who are to respond to the collection of information contained in this form are
not required to respond unless the form displays a currently valid OMB Number.
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Table II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
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1.Title of Derivative 2.Conver- 3.Trans- 4.Transac- 5.Number of Derivative 6.Date Exercis-
Security (Instr. 3) sion or action tion Securities Acquired able and Expi-
Exercise Date Code (A) or Disposed of ration Date
Price of (Month/ (Instr.8) (D) (Instr. 3,4, and 5) (Month/Day/Year)
Derivative Day/Year) ------------------- --------------------
Security (A) (D) Date Expira-
Exer- tion
cisable Date
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Employee Stock Option
(Right to Buy) $31.44 09/27/00 M 2,000 (1) 11/19/07
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Employee Stock Option
(Right to Buy) $27.44 09/27/00 M 667 (2) 11/14/05
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Employee Stock Option
(Right to Buy) $44.03 11/15/00 A 6,000 (3) 11/14/10
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7.Title and Amount of 8. Price 9. Number 10. Ownership 11. Nature
Underlying Securities of Derivative of Derivative of Derivative of Indirect
(Instr. 3 and 4) Security Securities Security: Beneficial
---------------------- (Instr. 5) Beneficially Direct Ownership
Amount or Owned at (D) or Indirect (Instr.4)
Number of End of Year (I)(Instr.4)
Title Shares Year(Instr.4)
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Common Stock 2,000 0 D
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Common Stock 667 0 D
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Common Stock 6,000 6,000 D
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Explanation of Responses:
(1) The option becomes exercisable 1/3 of the grant per year commencing
11-20-97.
(2) The option becomes exercisable 1/3 of the grant per year commencing
11-15-96.
(3) The option becomes exercisable 1/3 of the grant per year commencing
11-15-01.
Martin L. Shultz 2/14/01
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Martin L. Shultz Date
**Signature of Reporting Person
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.