4//SEC Filing
PNM RESOURCES INC 4
Accession 0001108426-14-000034
$TXNMCIK 0001108426operating
Filed
Mar 6, 7:00 PM ET
Accepted
Mar 7, 1:23 PM ET
Size
24.0 KB
Accession
0001108426-14-000034
Insider Transaction Report
Form 4
SATEGNA THOMAS G
VP AND CORP CNTRL
Transactions
- Tax Payment
Common Stock
2014-03-05$26.21/sh−743.72$19,493→ 1,567.28 total - Award
Common Stock
2014-03-05$26.21/sh+4,230$110,868→ 5,797.28 total - Tax Payment
Common Stock
2014-03-05$26.21/sh−1,361.28$35,679→ 4,436 total - Exercise/Conversion
Common Stock
2014-03-05$24.06/sh+6,000$144,360→ 10,436 total - Sale
Common Stock
2014-03-05$26.25/sh−6,000$157,500→ 4,436 total - Exercise/Conversion
Common Stock
2014-03-05$26.21/sh+2,311$60,571→ 2,311 total - Exercise/Conversion
Common Stock
2014-03-06$26.12/sh+440$11,493→ 4,876 total - Tax Payment
Common Stock
2014-03-06$26.12/sh−142$3,709→ 4,734 total - Exercise/Conversion
Stock Options
2014-03-05−6,000→ 12,000 total→ Common Stock (6,000 underlying) - Award
Restricted Stock Rights
2014-03-05−0→ 2,614 total→ Common Stock (1,194 underlying)
Holdings
- 12,847(indirect: PNM Common Stock Fund - PNM Resources Executive Savings Plan)
Phantom Stock Shares
→ Common Stock (12,847 underlying)
Footnotes (14)
- [F1]Represents the portion of a previous award of restricted stock rights that vested effective March 5 and 6, 2014.
- [F10]The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.
- [F11]Total represents phantom stock shares of PNM Resources, Inc. Common Stock acquired under the PNM Resources, Inc. Executive Savings Plan II as of February 28, 2014.
- [F12]Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
- [F13]Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock. The remaining restricted stock units vest in two equal annual installments, beginning on March 5, 2015. 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).
- [F14]Mr. Sategna's total unvested restricted stock rights was incorrectly reported as 5,245 in his Form 4s filed March 8 and March 13, 2013 when it should have been reported as 4,171 restricted stock rights. However, the previous Form 4s correctly reported all relevant transactions for the restricted stock rights.
- [F2]Due to rounding up and the broker's liquidation of a fractional share remaining at the time of settlement of Mr. Sategna's last sale reported on his Form 4 filed March 13, 2013, Mr. Sategna's total holding now reflects a one share reduction from that reported on March 13, 2013.
- [F3]Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the vesting of the restricted stock rights referenced in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of restricted stock rights upon vesting, in which it (i) withholds (in cash) the amount required to satisfy the 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 the vested restricted stock rights award at the prevailing market price. Only these "net shares" are delivered to the recipient of the award.
- [F4]The performance shares were earned as of December 31, 2013, as determined effective February 27, 2014.
- [F5]Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (3) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, in which it (i) withholds (in cash) the amount required to satisfy the 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.
- [F6]Based on the closing price on the date of the grant.
- [F7]The options vest in three equal annual installments from grant date.
- [F8]The options expire 10 years from grant date.
- [F9]The security converts to common stock on a one-for-one basis.
Documents
Issuer
PNM RESOURCES INC
CIK 0001108426
Entity typeoperating
IncorporatedNM
Related Parties
1- filerCIK 0001108426
Filing Metadata
- Form type
- 4
- Filed
- Mar 6, 7:00 PM ET
- Accepted
- Mar 7, 1:23 PM ET
- Size
- 24.0 KB