| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | TXNM | Common Stock | Options Exercise | $0 | +26.8K | +3.79% | $0.00 | 734K | Aug 2, 2024 | Direct | F1 |
| transaction | TXNM | Common Stock | Tax liability | -$506K | -12.1K | -1.65% | $41.77 | 722K | Aug 2, 2024 | Direct | F2 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | TXNM | Restricted Stock Rights | Options Exercise | $0 | -26.8K | -37.97% | $0.00 | 43.7K | Aug 2, 2024 | Common Stock | 26.8K | Direct | F3, F4 |
| Id | Content |
|---|---|
| F1 | Represents the portions of previous awards of restricted stock rights that vested effective as of August 2, 2024. |
| F2 | Represents shares withheld by TXNM Energy, Inc. (the "Company") 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 common stock of the Company. |
| F4 | On December 5, 2023, the reporting person was granted 26,766 restricted stock rights vesting 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. was to 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. As previously announced, on December 31, 2023, Avangrid, Inc. informed the Company that it was terminating the Transaction. As a result, the reporting person's restricted stock rights vested on the first trading day after the expiration of the blackout period that was in effect on the date on which the applicable six-month period expired. |