Patrick V. Apodaca - Mar 7, 2022 Form 4 Insider Report for PNM RESOURCES INC (PNM)

Role
SVP, GEN COUNSEL & SECY
Signature
/s/ Angela L. Pino, POA for Patrick V. Apodaca
Stock symbol
PNM
Transactions as of
Mar 7, 2022
Transactions value $
-$40,807
Form type
4
Date filed
3/9/2022, 02:50 PM
Previous filing
Mar 3, 2022
Next filing
Mar 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PNM Common Stock Options Exercise $0 +670 +0.82% $0.00 81.9K Mar 7, 2022 Direct F1
transaction PNM Common Stock Tax liability -$14K -304 -0.37% $46.11 81.6K Mar 7, 2022 Direct F2
transaction PNM Common Stock Options Exercise $0 +658 +0.81% $0.00 82.3K Mar 7, 2022 Direct F1
transaction PNM Common Stock Tax liability -$13.7K -298 -0.36% $46.11 82K Mar 7, 2022 Direct F2
transaction PNM Common Stock Options Exercise $0 +624 +0.76% $0.00 82.6K Mar 7, 2022 Direct F1
transaction PNM Common Stock Tax liability -$13K -283 -0.34% $46.11 82.3K Mar 7, 2022 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PNM Restricted Stock Rights Options Exercise $0 -670 -11.07% $0.00 5.38K Mar 7, 2022 Common Stock 670 Direct F3, F4
transaction PNM Restricted Stock Rights Options Exercise $0 -658 -12.23% $0.00 4.72K Mar 7, 2022 Common Stock 658 Direct F3, F4
transaction PNM Restricted Stock Rights Options Exercise $0 -624 -13.21% $0.00 4.1K Mar 7, 2022 Common Stock 624 Direct F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the portions of previous awards of restricted stock rights that vested effective as of March 7, 2022.
F2 Represents 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.
F3 Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
F4 The 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).