SEC Form 4 · accession 0001562180-18-001574

TXNM ENERGY INC · TXNM

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

A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).

Reporting owner

Patricia K Collawn

Officer — CHAIRMAN, PRESIDENT AND CEO · Director

Period of report

Mar 7, 2018

Accepted (ET)

Mar 9, 2018 · 12:31 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 7, 2018	M	4,802	—	A	444,572	D
Common Stock^F2	Mar 7, 2018	F	2,125	$35.10	D	442,447	D
Common Stock^F1	Mar 7, 2018	M	4,628	—	A	447,075	D
Common Stock^F2	Mar 7, 2018	F	2,048	$35.10	D	445,027	D

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Rights^F3,F4	—	Mar 7, 2018	M	4,802	D	—	—	Common Stock	4,802	34,199	D
Restricted Stock Rights^F3,F4	—	Mar 7, 2018	M	4,628	D	—	—	Common Stock	4,628	29,571	D
Stock Options^F5,F6,F7	—	holding	—	—	—	—	—	Common Stock	62,000	62,000	D
Phantom Stock Shares^F10,F8,F9	—	holding	—	—	—	—	—	Common Stock	93,709	93,709	I

Explanation of responses

F1Represents the portions of previous awards of restricted stock rights that vested effective as of March 7, 2018.
F10Total represents phantom stock shares of PNM Resources, Inc. Common Stock acquired under the PNM Resources, Inc. Executive Savings Plan II as of February 28, 2018.
F2Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy 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 equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.
F3Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
F4The 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).
F5Based on the closing price on the date of the grant.
F6The options vested in three equal annual installments from grant date and are fully vested.
F7The options expire 10 years from grant date.
F8The security converts to common stock on a one-for-one basis.
F9The 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.