Iverson Brian 4

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.