Patrick Apodaca V. - 05 Dec 2023 Form 4 Insider Report for PNM RESOURCES INC (TXNM)

Role: SVP, GEN COUNSEL & SECY
Signature: /s/ Angela L. Pino, POA for Patrick V. Apodaca
Issuer symbol: TXNM
Transactions as of: 05 Dec 2023
Net transactions value: $0
Form type: 4
Filing time: 07 Dec 2023, 18:14:16 UTC
Previous filing: 08 Mar 2023
Next filing: 05 Mar 2024
SEC: View on sec.gov

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	Award	$0	+8,922	+215%	$0.000000	13,066	05 Dec 2023	Common Stock	8,922		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each restricted stock right represents a contingent right to receive one share of common stock of PNM Resources, Inc. (the "Company").
F2	The restricted stock units vest on the earliest of (i) 24 months from the grant date, (ii) the closing of the previously disclosed potential transaction among the Company, Avangrid, Inc. and NM Green Holdings, Inc., pursuant to which NM Green Holdings, Inc. will merge with and into the Company with the Company surviving as a wholly-owned subsidiary of Avangrid, Inc. (the "Transaction"), or (iii) six months following the date on which either the Company or Avangrid, Inc. decides to abandon the Transaction; provided that the reporting person remains employed through the vesting date.

Content

Each restricted stock right represents a contingent right to receive one share of common stock of PNM Resources, Inc. (the "Company").

The restricted stock units vest on the earliest of (i) 24 months from the grant date, (ii) the closing of the previously disclosed potential transaction among the Company, Avangrid, Inc. and NM Green Holdings, Inc., pursuant to which NM Green Holdings, Inc. will merge with and into the Company with the Company surviving as a wholly-owned subsidiary of Avangrid, Inc. (the "Transaction"), or (iii) six months following the date on which either the Company or Avangrid, Inc. decides to abandon the Transaction; provided that the reporting person remains employed through the vesting date.