Joseph Don Tarry - Dec 2, 2024 Form 4 Insider Report for TXNM ENERGY INC (TXNM)

Role
President and COO, Director
Signature
/s/ Angela L. Pino, POA for Joseph Don Tarry
Stock symbol
TXNM
Transactions as of
Dec 2, 2024
Transactions value $
-$146,905
Form type
4
Date filed
12/4/2024, 05:23 PM
Previous filing
May 6, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TXNM Common Stock Options Exercise $0 +6.62K +20.97% $0.00 38.2K Dec 2, 2024 Direct F1
transaction TXNM Common Stock Tax liability -$147K -3K -7.85% $49.05 35.2K Dec 2, 2024 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 TXNM Restricted Stock Rights Options Exercise $0 -6.62K -21.13% $0.00 24.7K Dec 2, 2024 Common Stock 6.62K 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 portion of previous awards of restricted stock rights that vested effective as of December 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 May 3, 2024, the reporting person was granted 19,851 restricted stock rights, one third of which vested on December 2, 2024 and the remaining two-thirds of which will vest on December 1, 2025, subject to the reporting person's continued employment through such vesting date.