Apodaca Patrick V 4
4 · PNM RESOURCES INC · Filed Mar 5, 2024
Insider Transaction Report
Form 4
Apodaca Patrick V
SR VP, GEN COUNSEL & SECY
Transactions
- Exercise/Conversion
Common Stock
2024-03-01+5,205→ 91,907 total - Tax Payment
Common Stock
2024-03-01$36.80/sh−2,464$90,675→ 89,443 total - Award
Restricted Stock Rights
2024-03-01+2,861→ 15,927 total→ Common Stock (2,861 underlying)
Footnotes (4)
- [F1]The performance shares were earned as of December 31, 2023 for the 2021-2023 performance period, and settled on March 1, 2024.
- [F2]Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy 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 equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.
- [F3]Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.
- [F4]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).