4//SEC Filing
PNM RESOURCES INC 4
Accession 0001562180-16-001935
$TXNMCIK 0001108426operating
Filed
Mar 7, 7:00 PM ET
Accepted
Mar 8, 1:59 PM ET
Size
26.2 KB
Accession
0001562180-16-001935
Insider Transaction Report
Form 4
Talbot Ronald E
SR VP, CHIEF OPERATING OFFICER
Transactions
- Sale
Common Stock
2016-03-04$32.46/sh−1,688$54,792→ 29,739 total - Exercise/Conversion
Common Stock
2016-03-05+1,169→ 30,908 total - Tax Payment
Common Stock
2016-03-04$32.89/sh−373$12,268→ 31,427 total - Exercise/Conversion
Common Stock
2016-03-04+1,155→ 31,800 total - Tax Payment
Common Stock
2016-03-05$32.89/sh−378$12,432→ 30,530 total - Exercise/Conversion
Common Stock
2016-03-06+1,291→ 31,821 total - Tax Payment
Common Stock
2016-03-06$32.89/sh−417$13,715→ 31,404 total - Exercise/Conversion
Restricted Stock Rights
2016-03-05−1,169→ 7,779 total→ Common Stock (1,169 underlying) - Exercise/Conversion
Restricted Stock Rights
2016-03-04−1,155→ 8,948 total→ Common Stock (1,155 underlying) - Exercise/Conversion
Restricted Stock Rights
2016-03-06−1,291→ 6,488 total→ Common Stock (1,291 underlying)
Holdings
- 6,139
Phantom Stock Shares
→ Common Stock (6,139 underlying)
Footnotes (9)
- [F1]Represents the portions of previous awards of restricted stock rights that vested effective as of March 4, March 5, and March 6, 2016.
- [F2]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.
- [F3]Represents additional shares sold in the open market to satisfy the reporting persons tax obligations arising in connection with the vesting of the equity awards referenced in (1) above, in addition to the minimum statutory tax withholding for the vesting of equity awards.
- [F4]Price represents a weighted average fill price ranging from 32.45 to 32.47.
- [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. 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 stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan, and will settle upon the Reporting Person's retirement or other termination of service.
- [F9]Total represents phantom stock shares of PNM Resources, Inc. Common Stock acquired under the PNM Resources, Inc. Executive Savings Plan II as of February 29, 2016.
Issuer
PNM RESOURCES INC
CIK 0001108426
Entity typeoperating
IncorporatedNM
Related Parties
1- filerCIK 0001108426
Filing Metadata
- Form type
- 4
- Filed
- Mar 7, 7:00 PM ET
- Accepted
- Mar 8, 1:59 PM ET
- Size
- 26.2 KB