SEC Form 4 · accession 0001562180-16-001936

TXNM ENERGY INC · TXNM

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — VP and Corporate Controller

Period of report

Mar 4, 2016

Accepted (ET)

Mar 8, 2016 · 1:59 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
Common Stock^F1	Mar 4, 2016	M	425	—	A	13,082	D
Common Stock^F2	Mar 4, 2016	F	138	$32.89	D	12,944	D
Common Stock^F3	Mar 4, 2016	S	3,000	$32.32	D	9,944	D
Common Stock^F1	Mar 5, 2016	M	402	—	A	10,346	D
Common Stock^F2	Mar 5, 2016	F	130	$32.89	D	10,216	D
Common Stock^F1	Mar 6, 2016	M	428	—	A	10,644	D
Common Stock^F2	Mar 6, 2016	F	139	$32.89	D	10,505	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Rights^F4,F5	—	Mar 4, 2016	M	425	D	—	—	Common Stock	425	3,259	D
Restricted Stock Rights^F4,F5	—	Mar 5, 2016	M	402	D	—	—	Common Stock	402	2,857	D
Restricted Stock Rights^F4,F5	—	Mar 6, 2016	M	428	D	—	—	Common Stock	428	2,429	D

F1Represents the portions of previous awards of restricted stock rights that vested effective as of March 4, March 5, and March 6, 2016.
F2Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the vesting of the restricted stock rights referenced in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of restricted stock rights upon vesting, in which it (i) withholds (in cash) the amount required to satisfy the tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of the vested restricted stock rights award at the prevailing market price. Only these "net shares" are delivered to the recipient of the award.
F3Price represents a weighted average fill price ranging from 32.30 to 32.33.
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. 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).