Maestas Steven 4

What Happened

• Steven Maestas, a director of TXNM Energy Inc. (TXNM), received a grant of 2,698 restricted stock units (RSUs) on June 10, 2026. The reported acquisition price is $0.00. These RSUs will vest on June 10, 2027 and will be settled in common stock upon or after vesting per the Director Deferred Right Program.
• This is a compensation award (transaction code A), not an open-market purchase or sale. Awards are routine director compensation and do not represent an immediate cash investment or sale.

Key Details

• Transaction date: 2026-06-10; Filing date: 2026-06-11 (timely filing).
• Shares granted: 2,698 RSUs; reported acquisition price: $0.00.
• Vesting/settlement: RSUs vest on 2027-06-10 and will convert to common stock upon or after vesting.
• Footnote: If vesting or any applicable deferred delivery date falls during a blackout period, delivery of vested shares will be postponed until after the blackout ends.
• Shares owned after the transaction: Not disclosed in this filing.
• No 10b5-1 plan, tax withholding, or sales reported in this Form 4.

Context

• RSU grants are a form of compensation intended to align directors’ interests with shareholders; they don’t necessarily signal the insider is buying or selling stock.
• Because these RSUs vest in the future and may be delayed by blackout periods, the economic impact and timing of any stock delivery depend on future events (vesting and company trading restrictions).