Brian Iverson - Sep 16, 2024 Form 4 Insider Report for TXNM ENERGY INC (TXNM)

Role
Gen Couns, SVP Reg-Pub Policy
Signature
/s/ Angela L. Pino, POA for BRIAN IVERSON
Stock symbol
TXNM
Transactions as of
Sep 16, 2024
Transactions value $
-$69,160
Form type
4
Date filed
9/17/2024, 04:34 PM
Previous filing
Feb 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TXNM Common Stock Options Exercise +4.65K +4650% 4.75K Sep 16, 2024 Direct F1, F2
transaction TXNM Common Stock Tax liability -$69.2K -1.61K -33.85% $43.01 3.14K Sep 16, 2024 Direct F3

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 TXNM Restricted Stock Rights Award $0 +9.3K $0.00 9.3K Sep 16, 2024 Common Stock 9.3K Direct F2, F4
transaction TXNM Restricted Stock Rights Options Exercise $0 -4.65K -50% $0.00 4.65K Sep 16, 2024 Common Stock 4.65K Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the portion of restricted stock rights granted on September 16, 2024 that vested on such grant date.
F2 Each restricted stock right represents a contingent right to receive one share of the Company common stock.
F3 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.
F4 Fifty percent of the restricted stock rights vest immediately on the grant date, and the remaining restricted stock rights will vest on the first anniversary of the grant date, subject to the reporting person's continued employment with the Company through such vesting date. 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).