Charles N. Eldred - 07 Mar 2022 Form 4 Insider Report for PNM RESOURCES INC (TXNM)

Role: EVP Corp Development & Finance
Signature: /s/ Angela L. Pino, POA for Charles N. Eldred
Issuer symbol: TXNM
Transactions as of: 07 Mar 2022
Net transactions value: -$51,828
Form type: 4
Filing time: 09 Mar 2022, 14:50:41 UTC
Previous filing: 03 Mar 2022
Next filing: 16 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PNM	Common Stock	Options Exercise	$0	+1,346	+0.98%	$0.000000	139,099	07 Mar 2022	Direct	F1
transaction	PNM	Common Stock	Tax liability	$18,813	-408	-0.29%	$46.11	138,691	07 Mar 2022	Direct	F2
transaction	PNM	Common Stock	Options Exercise	$0	+1,218	+0.88%	$0.000000	139,909	07 Mar 2022	Direct	F1
transaction	PNM	Common Stock	Tax liability	$17,015	-369	-0.26%	$46.11	139,540	07 Mar 2022	Direct	F2
transaction	PNM	Common Stock	Options Exercise	$0	+1,145	+0.82%	$0.000000	140,685	07 Mar 2022	Direct	F1
transaction	PNM	Common Stock	Tax liability	$16,000	-347	-0.25%	$46.11	140,338	07 Mar 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	-1,346	-10%	$0.000000	11,506	07 Mar 2022	Common Stock	1,346		Direct	F3, F4
transaction	PNM	Restricted Stock Rights	Options Exercise	$0	-1,218	-11%	$0.000000	10,288	07 Mar 2022	Common Stock	1,218		Direct	F3, F4
transaction	PNM	Restricted Stock Rights	Options Exercise	$0	-1,145	-11%	$0.000000	9,143	07 Mar 2022	Common Stock	1,145		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).