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FORM 4 OMB APPROVAL
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[ ] Check this box if no longer OMB Number 3235-0287
subject to Section 16. Form 4 Expires: December 31, 2001
or Form 5 obligations may Estimated average burden
continue. See Instruction 1(b). hours per response............. 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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*
Palmeri Michael V.
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(Last) (First) (Middle)
400 North Fifth 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. IRS Or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
November 2001
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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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Form 4 (continued)
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TABLE I--NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1.Title of 2. Trans- 5. Amount of 6. Owner-
Security action 3. Trans- 4. Securities Acquired (A) Securities ship
(Instr. 3) Date action or Disposed of (D) Beneficially Form: 7. Nature of
(Month/ Code (Instr. 3, 4 and 5) Owned at Direct Indirect
Day/ (Instr. 8) ---------------------- End of Month (D) or Beneficial
Year) ---------- (A) or (Instr. 3 and 4) Indirect I) Ownership
Code V Amount (D) Price (Instr. 4) (Instr. 4)
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Common Stock 11-29-01 M 449 A $17.68
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Common Stock 11-29-01 F 801** D $41.00 12,657 D
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Common Stock 1,643 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 sold solely for the purpose of meeting
tax withholding requirements. Mr. Palmeri retained all other shares
received upon the noted option exercise.
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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
Security (Instr. 3) sion or action tion Securities Acquired
Exercise Date Code (A) or Disposed
Price of (Month/ (Instr. 8) of (D)(Instr. 3,4, and 5)
Derivative Day/ ----------- -------------------------
Security Year) Code V (A) (D)
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Employee Stock
Option (Right to Buy) $17.68 11-29-01 M 1,250
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6. Date Exercisable 9. Number
and Expiration 7. Title and Amount of of Derivative 10. Ownership
Date (Month/ Underlying Securities ative Form of
Day/Year) (Instr. 3 and 4) Securities Derivative 11. Nature of
---------------- -------------------- 8. Price of Beneficially Security: Indirect
Date Expira- Amount or Derivative Owned at Direct (D) Beneficial
Exer- tion Number of Security End of Month or Indirect Ownership
cisable Date Title Shares (Instr.5) (Instr. 4) (I)(Instr.4) (Instr.4)
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Common
(1) 2-18-02 Stock 1,250 0 D
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Explanation of Responses:
(1) The option became exercisable 1/3 of the grant per year commencing 2-18-93.
Michael V. Palmeri 12-10-01
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Michael V. Palmeri 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).