Joseph Don Tarry - 07 Mar 2026 Form 4 Insider Report for TXNM ENERGY INC (TXNM)

Role: President and CEO, Director
Signature: /s/ Angela L. Pino, POA for Joseph Don Tarry
Issuer symbol: TXNM
Transactions as of: 07 Mar 2026
Net transactions value: $0
Form type: 4
Filing time: 09 Mar 2026, 16:55:23 UTC
Previous filing: 04 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
TARRY JOSEPH DON	President and CEO, Director	CORPORATE HEADQUARTERS MS1275, ALBUQUERQUE	/s/ Angela L. Pino, POA for Joseph Don Tarry	09 Mar 2026	0001637037

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TXNM	Common Stock	Options Exercise		+1,700	+3.1%	$0.000000^*	55,956	07 Mar 2026	Direct	F1
transaction	TXNM	Common Stock	Tax liability		-770	-1.4%	$58.88^*	55,186	07 Mar 2026	Direct	F2
transaction	TXNM	Common Stock	Options Exercise		+2,424	+4.4%	$0.000000^*	57,610	07 Mar 2026	Direct	F1
transaction	TXNM	Common Stock	Tax liability		-1,097	-1.9%	$58.88^*	56,513	07 Mar 2026	Direct	F2
transaction	TXNM	Common Stock	Options Exercise		+3,124	+5.5%	$0.000000^*	59,637	07 Mar 2026	Direct	F1
transaction	TXNM	Common Stock	Tax liability		-1,414	-2.4%	$58.88^*	58,223	07 Mar 2026	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		-1,700	-5.1%	$0.000000^*	31,507	07 Mar 2026	Common Stock	1,700		Direct	F3, F4
transaction	TXNM	Restricted Stock Rights	Options Exercise		-2,424	-7.7%	$0.000000^*	29,083	07 Mar 2026	Common Stock	2,424		Direct	F3, F4
transaction	TXNM	Restricted Stock Rights	Options Exercise		-3,124	-11%	$0.000000^*	25,959	07 Mar 2026	Common Stock	3,124		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 March 7, 2026.
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 TXNM Energy, Inc. common stock.
F4	The restricted stock units vest in three equal annual installments. 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).