Earnings Feed
Start Free
TXNM ENERGY INC·4

Mar 9, 4:55 PM ET

TARRY JOSEPH DON 4

Research Summary

AI-generated summary

Updated

TXNM Energy CEO Joseph Don Tarry: RSUs Vest; Shares Sold for Taxes

What Happened

  • Joseph Don Tarry, President, CEO and Director of TXNM Energy (TXNM), had previously granted restricted stock rights (RSUs) vest effective March 7, 2026. A total of 7, and/or grouped, 7,248 underlying shares were settled through conversion of those RSU awards (entries show conversions of 1,700; 2,424; and 3,124 shares).
  • To satisfy tax withholding on the settlement, the company withheld/sold 770, 1,097 and 1,414 shares (3,281 shares total) at $58.88 per share, generating proceeds of $45,338; $64,591; and $83,256 respectively — about $193,185 in total. The derivative conversions are reported at $0 exercise price because these were RSU settlements, not option purchases.

Key Details

  • Transaction date: March 7, 2026; Form 4 filed March 9, 2026 (filed within the typical 2-business-day window).
  • Conversions (derivative exercises): 1,700; 2,424; 3,124 RSU rights converted into shares (reported as "M" transactions at $0.00).
  • Tax withholding (share disposal): 770; 1,097; 1,414 shares withheld/sold (reported as "F" transactions) at $58.88/share, totaling ~$193,185.
  • Shares owned after transaction: not specified in the provided filing excerpt.
  • Relevant footnotes:
    • F1/F3: These were previously awarded restricted stock rights; each right converts to one share.
    • F2: The company uses a modified share-withholding approach — it withholds cash for taxes and directs a broker to buy shares on the open market; only the net shares are delivered to the recipient.
    • F4: These RSUs vest in three equal annual installments (this vesting event was one installment).
  • No 10b5-1 plan or late-filing indication reported in the excerpt.

Context

  • This was a standard RSU vesting and tax-withholding settlement, not an open-market sale made to take a position. The reporting shows a cashless/net-share settlement to satisfy tax obligations rather than an independent discretionary stock sale by the insider.
  • For retail investors: purchases or direct buys by insiders are often viewed as stronger bullish signals than routine vesting events with withholding. This filing documents routine compensation settlement and tax withholding.