HUGHES JAMES ALTON 4

What Happened

• James Alton Hughes, a director of TXNM Energy Inc. (TXNM), received an award of 2,698 restricted stock units (RSUs) on June 10, 2026. The award was recorded at $0.00 per share (total acquisition value $0) and is coded as an Award/Grant (A) on the Form 4.

Key Details

• Transaction date: 2026-06-10; reported on Form 4 filed 2026-06-11 (timely filing).
• Grant: 2,698 RSUs @ $0.00 per share; total recorded acquisition value $0.
• Shares owned after transaction: Not specified in the filing.
• Footnote: RSUs vest on June 10, 2027 and will be settled in common stock upon or after vesting (and delivered per any Director Deferred Right Program elections). If vesting or delivery would occur during a blackout period, delivery will be delayed until after the blackout ends.
• Transaction code: A = Award/Grant.

Context

• This was a compensation award (restricted stock units), not an open-market purchase or sale. RSU grants indicate future potential share delivery upon vesting and do not necessarily reflect an immediate change in the director’s cash position or market view. The vesting schedule and blackout-delivery clause affect when shares will actually be received.