How Geisler was paid
$8.4M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Pension | Other | Total |
|---|---|---|---|---|---|---|
| Theodore N. GeislerChairman of the Board, President and Chief Executive Officer of PNW and APS | $938,356 | $5,257,108 | $1,853,040 | $333,545 | $32,603 | $8,414,652 |
| Jeffrey B. GuldnerFormer Chairman, President and CEO and currently Special Advisor to the CEO | $744,247 | — | $541,443 | $1,506,661 | $35,764 | $2,828,115 |
| Andrew D. CooperSenior Vice President and Chief Financial Officer, PNW and APS | $680,000 | $1,787,327 | $684,012 | $206,306 | $35,215 | $3,392,860 |
| Shirley A. BaumSenior Vice President and General Counsel, PNW and APS | $486,575 | $788,780 | $431,100 | $147,944 | $32,248 | $1,886,647 |
| Adam C. HeflinExecutive Vice President and Chief Nuclear Officer of PVGS, APS | $760,000 | $1,465,175 | $998,925 | $376,444 | $27,915 | $3,628,459 |
| Jacob TetlowExecutive Vice President and Chief Operating Officer of APS | $700,000 | $1,673,955 | $754,031 | $634,480 | $33,521 | $3,795,987 |
| Robert E. SmithFormer Executive VP, Chief Legal Officer and Chief Development Officer and Special Advisor to the CEO | $514,658 | $1,360,231 | $421,609 | $377,576 | $34,729 | $2,708,803 |
What changed and why
- $8.4MTheodore N. Geisler received total compensation of $8,414,652 in his first year as CEO of Pinnacle West and APS.
- $2.8MJeffrey B. Guldner transitioned to Special Advisor to the CEO in 2025 and received total compensation of $2,828,115.
- 96.6%The say-on-pay vote received strong support with 96.6% approval from shareholders at the prior annual meeting.
- The company increased its shareholder dividend for the 14th consecutive year in 2025.
- $5.05Pinnacle West achieved year-end earnings of $5.05 per diluted share.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.