4//SEC Filing
PNM RESOURCES INC 4
Accession 0001108426-15-000022
$TXNMCIK 0001108426operating
Filed
Mar 5, 7:00 PM ET
Accepted
Mar 6, 5:42 PM ET
Size
18.0 KB
Accession
0001108426-15-000022
Insider Transaction Report
Form 4
Talbot Ronald E
SR VP, CHIEF OPERATING OFFICER
Transactions
- Award
Common Stock
2015-03-04+19,769→ 32,048 total - Tax Payment
Common Stock
2015-03-04$27.85/sh−6,376$177,572→ 25,672 total - Exercise/Conversion
Common Stock
2015-03-05+2,771→ 28,443 total - Tax Payment
Common Stock
2015-03-05$28.30/sh−895$25,329→ 27,548 total - Exercise/Conversion
Common Stock
2015-03-06+1,287→ 28,835 total - Tax Payment
Common Stock
2015-03-06$27.34/sh−416$11,373→ 28,419 total - Award
Restricted Stock Rights
2015-03-04+3,465→ 7,094 total→ Common Stock (3,465 underlying)
Holdings
- 5,979
Phantom Stock Shares
→ Common Stock (5,979 underlying)
Footnotes (9)
- [F1]The performance shares were earned as of December 31, 2014 for the 2012-2014 performance period, as determined effective February 26, 2015.
- [F2]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 (2) 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.
- [F3]Represents the portions of previous awards of restricted stock rights that vested effective as of March 5 and 6, 2015.
- [F4]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.
- [F5]Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
- [F6]The restricted stock units vest in three equal annual installments, beginning on March 4, 2016. 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).
- [F7]The security converts to common stock on a one-for-one basis.
- [F8]The phantom 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.
- [F9]Total represents phantom stock shares of PNM Resources, Inc. acquired under the PNM Resources, Inc. Executive Savings Plan II as of February 28, 2015.
Documents
Issuer
PNM RESOURCES INC
CIK 0001108426
Entity typeoperating
IncorporatedNM
Related Parties
1- filerCIK 0001108426
Filing Metadata
- Form type
- 4
- Filed
- Mar 5, 7:00 PM ET
- Accepted
- Mar 6, 5:42 PM ET
- Size
- 18.0 KB