TXNM Energy Files 8-K on Officer/Director Changes
Ticker: TXNM · Form: 8-K · Filed: Dec 3, 2024 · CIK: 1108426
| Field | Detail |
|---|---|
| Company | Txnm Energy Inc (TXNM) |
| Form Type | 8-K |
| Filed Date | Dec 3, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $725,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: corporate-governance, officer-appointment, director-election
Related Tickers: PNM
TL;DR
TXNM Energy 8-K: Director/officer changes and comp arrangements filed.
AI Summary
TXNM Energy, Inc. (formerly PNM Resources Inc.) filed an 8-K on December 3, 2024, reporting changes related to directors and officers, including elections and appointments, as well as compensatory arrangements for certain officers. The filing also notes the company's fiscal year end is December 31st and its principal executive offices are located at 414 Silver Ave. SW, Albuquerque, NM.
Why It Matters
This filing indicates potential shifts in the company's leadership and compensation structures, which could impact strategic direction and investor confidence.
Risk Assessment
Risk Level: low — The filing is a routine disclosure of corporate governance and personnel matters, not indicating immediate financial distress or significant operational changes.
Key Numbers
- 001-32462 — Commission File Number (Identifies the company's filing with the SEC)
- 85-0468296 — IRS Employer Identification No. (Company's tax identification number)
Key Players & Entities
- TXNM Energy, Inc. (company) — Registrant
- PNM Resources Inc. (company) — Former company name
- Robert Bischoff (person) — Contact person for mail address
- Albuquerque, New Mexico (location) — Principal executive offices and mailing address
- December 3, 2024 (date) — Date of report
- December 2, 2024 (date) — Date of earliest event reported
FAQ
What specific changes were made regarding directors or certain officers?
The filing indicates the election of directors and appointment of certain officers, along with changes in compensatory arrangements for certain officers, though specific details are not provided in this summary.
When did TXNM Energy, Inc. change its name from PNM Resources Inc.?
The filing indicates the former company name was PNM Resources Inc. and the date of name change was June 18, 2001.
What is the primary business of TXNM Energy, Inc.?
TXNM Energy, Inc. is in the ELECTRIC SERVICES industry, with SIC code 4911.
Where are TXNM Energy, Inc.'s principal executive offices located?
The principal executive offices are located at 414 Silver Ave. SW, Albuquerque, New Mexico 87102-3289.
What is the fiscal year end for TXNM Energy, Inc.?
The fiscal year end for TXNM Energy, Inc. is December 31.
Filing Stats: 681 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2024-12-03 16:15:53
Key Financial Figures
- $725,000 — increase in Mr. Tarry's base salary to $725,000 and (ii) an increase in Mr. Tarry's tar
Filing Documents
- pnm-20241203.htm (8-K) — 26KB
- 0001108426-24-000098.txt ( ) — 173KB
- pnm-20241203.xsd (EX-101.SCH) — 2KB
- pnm-20241203_def.xml (EX-101.DEF) — 14KB
- pnm-20241203_lab.xml (EX-101.LAB) — 25KB
- pnm-20241203_pre.xml (EX-101.PRE) — 15KB
- pnm-20241203_htm.xml (XML) — 3KB
Executive Compensation Changes
Executive Compensation Changes On December 2, 2024, the Compensation and Human Capital Committee (the "Compensation Committee") of the Board approved the following compensation changes for Mr. Tarry, in each case effective as of December 3, 2024: (i) an increase in Mr. Tarry's base salary to $725,000 and (ii) an increase in Mr. Tarry's target annual cash incentive award opportunity to 90% of his annual base salary. In addition, on December 2, 2024, the Board, upon the recommendation of the Compensation Committee, approved the following changes to Mr. Tarry's target annual long-term incentive award opportunity, in each case effective as of December 3, 2024: (i) an increase in Mr. Tarry's time-vested restricted stock rights award opportunity under TXNM's 2022 Long-Term Incentive Plan to 67.5% of his annual base salary, and (ii) an increase in Mr. Tarry's total target annual long-term incentive award opportunity under TXNM's 2023 and 2024 Long-Term Incentive Plans to 225% of his annual base salary. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TXNM ENERGY, INC. (Registrant) Date: December 3, 2024 /s/ Gerald R. Bischoff Gerald R. Bischoff Vice President and Corporate Controller (Officer duly authorized to sign this report)