COLLAWN PATRICIA K 4

4 · TXNM ENERGY INC · Filed Mar 9, 2026

AI-generated summary of this filing

Updated Mar 9, 2026

TXNM Energy (TXNM) Exec Chair Patricia Collawn Receives Award

What Happened

Patricia K. Collawn, Executive Chair and Director of TXNM Energy, had previously awarded restricted stock rights vest in part on March 7, 2026. Three vesting events converted a total of 21,844 restricted stock rights into common shares (6,019; 8,577; 7,248). The company withheld 9,886 shares to satisfy tax withholding obligations (dispositions reported) at a reported per-share price of $58.88, a withholding value of about $582,087. The net result was delivery of approximately 11,958 shares to Ms. Collawn. Transaction codes: M = conversion/exercise of derivative; F = tax withholding.

Key Details

Transaction date: March 7, 2026; Form 4 filed March 9, 2026.
Per-share price used for withholding: $58.88.
Shares converted/vested: 21,844 total (6,019; 8,577; 7,248).
Shares withheld for taxes (disposed): 9,886 (value ≈ $582,087).
Net shares delivered to insider: ~11,958 (net value ≈ $704k).
Shares owned after transaction: not specified in the filing.
Footnotes: F1–F4 note these were previously granted restricted stock rights that vested (one right = one share), the company’s modified share‑withholding procedure to cover taxes, and the awards vest in three equal annual installments.
Filing timeliness: reported on March 9, 2026 for the March 7 vesting (no late filing indicator in the provided data).

Context

This was a settlement of vested restricted stock rights — effectively converting derivative awards into shares — not an open‑market purchase or a voluntary sale for investment purposes. The recorded "dispositions" are routine tax withholdings (company-directed), a common administrative step when equity awards vest. Retail investors should view this as an insider award settlement rather than a directional trade signal.

Form 4

Period: 2026-03-07

DirectorEXECUTIVE CHAIR

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-07+6,019→ 770,533 total
Tax Payment
Common Stock
[F2]
2026-03-07$58.88/sh−2,724$160,389→ 767,809 total
Exercise/Conversion
Common Stock
[F1]
2026-03-07+8,577→ 776,386 total
Tax Payment
Common Stock
[F2]
2026-03-07$58.88/sh−3,882$228,572→ 772,504 total
Exercise/Conversion
Common Stock
[F1]
2026-03-07+7,248→ 779,752 total
Tax Payment
Common Stock
[F2]
2026-03-07$58.88/sh−3,280$193,126→ 776,472 total
Exercise/Conversion
Restricted Stock Rights
[F3][F4]
2026-03-07−6,019→ 52,242 total
→ Common Stock (6,019 underlying)
Exercise/Conversion
Restricted Stock Rights
[F3][F4]
2026-03-07−8,577→ 43,665 total
→ Common Stock (8,577 underlying)
Exercise/Conversion
Restricted Stock Rights
[F3][F4]
2026-03-07−7,248→ 36,417 total
→ Common Stock (7,248 underlying)

Footnotes (4)

[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).

Signature

/s/ Angela L. Pino, POA for Patricia K. Collawn|2026-03-09

1 file