BAILEY VICKY A 4

What Happened
Vicky A. Bailey, a director of TXNM Energy Inc. (TXNM), was granted 2,698 restricted stock units (RSUs) on 2026-06-10. The award was recorded at $0.00 per share (no cash paid) and will be settled in common stock upon vesting. The RSUs vest on June 10, 2027; if vesting or any deferred delivery date falls within a trading blackout, delivery of the vested shares will be delayed until after the blackout ends.

Key Details

• Transaction date: 2026-06-10; Form 4 filed: 2026-06-11 (filed the next day; within the usual two-business-day window).
• Transaction type/code: Award/Grant (A).
• Shares granted: 2,698 RSUs; price reported: $0.00; immediate value on the Form 4: $0.
• Vesting/settlement: Vest on 2027-06-10; settled in common stock upon or after vesting (subject to blackout delays).
• Shares owned after transaction: not disclosed on the Form 4.
• Other note: The filing excludes 8,725 shares previously owned directly by Ms. Bailey that were contributed to her revocable living trust (Vicky Bailey Revocable Living Trust).

Context
RSUs are equity awards that convert to shares at vesting; this grant is not a purchase or sale and does not involve immediate cash or market activity. Such grants are compensation/retention measures and do not, by themselves, indicate an insider buying or selling for investment reasons.