Corporate GovernanceJun 29, 2026, 04:07 PM
Pinnacle West approves $1.5M discretionary credit award for Adam Heflin
AI Summary
Pinnacle West Capital Corporation's Human Resources Committee approved a Discretionary Credit Award Agreement for Adam Heflin, Executive Vice President and Chief Nuclear Officer of Arizona Public Service Company. The award totals $1.5 million and will be credited to an account in installments between July 2026 and July 2029. The account is set to vest on May 1, 2030, provided Mr. Heflin remains employed with APS, with exceptions for specific circumstances.
Key Highlights
- Pinnacle West approved a $1.5 million Discretionary Credit Award for Adam Heflin.
- Award granted under the Deferred Compensation Plan of 2005.
- Credits of $300,000 each on July 1, 2026 and 2027.
- Credit of $400,000 on July 1, 2028.
- Credit of $500,000 on July 1, 2029.
- Account vests on May 1, 2030, contingent on continued employment.
- Forfeiture upon separation, except for death, disability, or termination without cause.
Price Impact
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