PNM Resources Files Proxy Statement

TL;DR

PNM Resources proxy statement filed, shareholders vote soon.

AI Summary

PNM Resources, Inc. filed a Definitive Proxy Statement (DEFA14A) on April 15, 2024. This filing is a solicitation of proxies from shareholders for an upcoming meeting. The company, headquartered in Albuquerque, NM, is in the electric services industry and is seeking shareholder input on corporate matters.

Why It Matters

This filing is crucial for shareholders as it outlines the agenda and proposals for the company's annual meeting, allowing them to exercise their voting rights on important corporate decisions.

Risk Assessment

Risk Level: low — This is a routine proxy filing, not indicating any immediate financial distress or significant operational changes.

Key Players & Entities

• PNM Resources, Inc. (company) — Registrant
• 414 SILVER AVE. SW (company) — Business Address
• ALBUQUERQUE (company) — City
• NM (company) — State
• MANZANO CORP (company) — Former Company Name

FAQ

Filing Documents

• pnm-20240415.htm (DEFA14A) — 20KB
• 0001108426-24-000021.txt ( ) — 144KB
• pnm-20240415.xsd (EX-101.SCH) — 1KB
• pnm-20240415_htm.xml (XML) — 1KB

From the Filing

pnm-20240415 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant x Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) o Definitive Proxy Statement o Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 PNM Resources, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required. o Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. o Fee paid previously with preliminary materials. o Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. To: All Employees From: Pat Vincent-Collawn, Chair and CEO and Don Tarry, President and COO Date: April 15, 2024 Re: Holding Company Name Change Proposal Good Morning, Last Friday, we made a filing that includes a proposal for our shareholders to vote on a name change for our holding company from PNM Resources to TXNM Energy. Our holding company was established with its current name in 2001 when PNM was our only utility. The proposed name change, if approved by shareholders, reflects the changes in our operations and business footprint over the last two decades. TNMP has grown at an accelerated pace for several consecutive years and is now nearly the same size as PNM's retail operations in New Mexico. TXNM Energy provides a more transparent indication that we operate in both states. Our PNM and TNMP customers and communities are our top priority, and this proposal does not change the way we operate, communicate or brand these entities, continuing our proud legacy in New Mexico and Texas. Our operating companies will continue to be known as PNM and TNMP. The shareholder proposal only updates the name and there are no changes to our structure, location or goals. If shareholders vote to approve the name change, our stock ticker will change to TXNM and all existing shares will be recognized under the new symbol. This is an exciting time that reflects the evolution of our company as we continue to deliver innovative solutions for our customers. Your hard work and dedication to our company's success have played a critical role in getting us to where we are today, poised for an exciting tomorrow. We understand that change brings questions, please feel free to reach out to askus@pnmresources.com . Thank you for your commitment to our company's vision and for the part you play in our ongoing success. We will develop and share any plans for the name change after the June 4 th shareholder vote. Thanks, Pat and Don 1 Additional Information and Where to Find It The name change proposal will be submitted to the Company's shareholders for their approval at the Company's 2024 annual meeting. In connection with its proposed solicitation of proxies for the annual meeting, the Company will file with the SEC a proxy statement which, among other things, will describe the proposal. Shareholders of the Company are urged to read the proxy statement and any other relevant documents filed with the SEC when they become available, because they will contain important information about the Company and the proposal. Shareholders may obtain a free copy of the proxy statement and other relevant documents (when available) that the Company files with the SEC at the SEC's Web site at www.sec.gov . In addition, those documents will be available free of charge in the investors section of the Company's Web site at www.pnmresources.com . Participants in the Solicitation The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies under SEC rules in respect of the foregoing proposal. Shareholders may obtain information regarding the Company's directors and executive officers in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Shareholders may obtain free copies of this document from the sources listed above. Additional information regarding the interests of the participants in the solicitation, if any, will be included in the proxy statement relating to the proposal. 2

View Full Filing

View this DEFA14A filing on SEC EDGAR