SEC Form 4 · accession 0001108426-15-000126
TXNM ENERGY INC · TXNM
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Charles N Eldred
Officer — EXEC VP, CFO
Period of report
Nov 4, 2015
Accepted (ET)
Nov 5, 2015 · 6:00 pm EST
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 StockF1,F2 | Nov 4, 2015 | S | 5,409 | $28.3512 | D | 87,323 | 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 SharesF5,F3,F4 | — | holding | — | — | — | — | — | Common Stock | 6,696 | 6,696 | I |
| Restricted Stock RightsF6,F7 | — | holding | — | — | — | — | — | Common Stock | 9,732 | 9,732 | D |
| Stock OptionsF8,F9,F10 | — | holding | — | — | — | — | — | Common Stock | 14,000 | 14,000 | D |
Explanation of responses
- F1Represents shares sold in the open market to satisfy the reporting person's tax obligations arising in connection with the vesting of the equity awards, in addition to the minimum statutory tax withholding for the vesting of equity awards.
- F10The options expire 10 years from grant date.
- F2Reflects the sale of stock
- F3The security converts to common stock on a one-for-one basis.
- F4The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan, and will settle upon the Reporting Person's retirement or other termination of service.
- F5Total represents phantom stock shares of PNM Resources, Inc. Common Stock acquired under the PNM Resources, Inc. Executive Savings Plan II as of September 30, 2015.
- F6Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
- F7The restricted stock units vest in three equal annual installments. 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).
- F8Based on the closing price on the date of the grant.
- F9Stock 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.