Patrick V. Apodaca - Dec 5, 2023 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: Dec 5, 2023
Transactions value $: $0
Form type: 4
Date filed: 12/7/2023, 06:14 PM
Previous filing: Mar 8, 2023
Next filing: Mar 5, 2024

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	+8.92K	+215.3%	$0.00	13.1K	Dec 5, 2023	Common Stock	8.92K		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.