Iverson Brian 4
4 · TXNM ENERGY INC · Filed Mar 9, 2026
Research Summary
AI-generated summary of this filing
TXNM Energy SVP Brian Iverson Receives Award; Shares Withheld for Taxes
What Happened
Brian Iverson, General Counsel and SVP, Regulatory & Public Policy at TXNM Energy (TXNM), had 1,163 restricted stock rights vest on March 7, 2026. Those rights converted into 1,163 shares of common stock (acquired at $0.00). To satisfy tax withholding on the settlement, 414 shares were withheld at $58.88 per share (total value withheld = $24,376). The net result: 749 shares were delivered to Iverson after tax withholding. This was a vesting/settlement of previously granted restricted stock rights, not an open-market purchase or discretionary sale.
Key Details
- Transaction date: March 7, 2026; Form 4 filed March 9, 2026 (timely filing).
- Converted/vested: 1,163 restricted stock rights → 1,163 shares acquired (exercise/conversion code M) at $0.00.
- Tax withholding: 414 shares withheld/disposed at $58.88/share = $24,376 (code F).
- Net shares delivered to insider (implied): 1,163 − 414 = 749 shares.
- Footnotes: F1–F4 indicate these were vesting restricted stock rights (each right = one share), the company uses a modified cash/share withholding procedure to satisfy tax obligations, and the awards vest in scheduled installments.
- Shares owned after transaction: Not disclosed in the provided filing.
Context
- This was a routine vesting and net-settlement for taxes of restricted stock rights (not a market sale or purchase by the insider). The withholding was used to cover tax obligations rather than an open-market sale by Iverson.
- Such vesting transactions are common compensation events and do not, by themselves, indicate insider sentiment about the company’s stock.
Insider Transaction Report
Form 4
TXNM ENERGY INCTXNM
Iverson Brian
Gen Couns, SVP Reg-Pub Policy
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-03-07+1,163→ 9,533 total - Tax Payment
Common Stock
[F2]2026-03-07$58.88/sh−414$24,376→ 9,119 total - Exercise/Conversion
Restricted Stock Rights
[F3][F4]2026-03-07−1,163→ 5,578 total→ Common Stock (1,163 underlying)
Footnotes (4)
- [F1]Represents the portion of previous awards of restricted stock rights that vested effective as of March 7, 2026.
- [F2]Represents shares withheld by TXNM Energy, Inc. (the "Company") 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 TXNM Energy, 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).
Signature
/s/ Angela L. Pino, POA for Brian Iverson|2026-03-09