SEC Form 4 · accession 0001108426-15-000028
TXNM ENERGY INC · TXNM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas G Sategna
Officer — VP AND CORP CNTRL
Period of report
Mar 10, 2015
Accepted (ET)
Mar 12, 2015 · 5:23 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001108426
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Mar 10, 2015 | S | 5,565 | $27.44 | D | 0 | D | |
| Common StockF1 | Mar 12, 2015 | M | 6,000 | $27.52 | A | 6,000 | D | |
| Common Stock | Mar 12, 2015 | S | 6,000 | $28.02 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Stock SharesF2,F3 | — | Mar 10, 2015 | I | 6,994 | D | — | — | Common Stock | 6,994 | 6,202 | I |
| Stock OptionsF1,F6,F7 | $27.52 | Mar 12, 2015 | M | 6,000 | D | — | — | Common Stock | 6,000 | 6,000 | D |
| Restricted Stock RightsF4,F5 | — | holding | — | — | — | — | — | Common Stock | 2,384 | 2,384 | D |
Explanation of responses
- F1Based on the closing price on the date of the grant.
- F2The phantom stock shares acquired under the PNM Resources, Inc. Executive Savings Plan II convert to common stock on a one-for-one basis. Mr. Sategna exercised his right to transfer the value of a portion of his phantom stock shares acquired under the PNM Resources, Inc. Executive Savings Plan II into an alternative investment fund.
- F3Total represents phantom stock shares of PNM Resources, Inc. Common Stock held under the PNM Resources, Inc. Executive Savings Plan II as of March 10, 2015 (after giving effect to the transfer described in footnote 1 above).
- F4Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
- F5The restricted stock units vest in three equal annual installments from the grant dates. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).
- F6Stock options were awarded on multiple dates. The exercise price associated with each stock option award was based on the closing price of PNM Resources, Inc. common stock on the date of the grant.
- F7The options expire 10 years from the grant date.