TXNM

SEC source: 0001562180-21-002110 · primarydocument.xml · derivative · entry 10

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,334

Underlying: Common Stock · 670 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002110 · primarydocument.xml · derivative · entry 9

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,004

Underlying: Common Stock · 1,974 shares

Expires not disclosed

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002110 · primarydocument.xml · nonDerivative · entry 8

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 77,975

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002110 · primarydocument.xml · nonDerivative · entry 7

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 78,347

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002110 · primarydocument.xml · nonDerivative · entry 6

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 77,527

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002110 · primarydocument.xml · nonDerivative · entry 5

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 77,809

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002110 · primarydocument.xml · nonDerivative · entry 4

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 77,186

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002110 · primarydocument.xml · nonDerivative · entry 3

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 77,490

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002110 · primarydocument.xml · nonDerivative · entry 2

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 76,820

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002110 · primarydocument.xml · nonDerivative · entry 1

Apodaca Patrick V · CIK 0001478313 · SVP, GEN COUNSEL & SECY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 81,193

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: The performance shares were earned as of December 31, 2020 for the 2018-2020 performance period, and settled on March 5, 2020.

SEC source: 0001562180-21-002107 · primarydocument.xml · derivative · entry 12

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,138

Underlying: Common Stock · 321 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002107 · primarydocument.xml · derivative · entry 11

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,459

Underlying: Common Stock · 372 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002107 · primarydocument.xml · derivative · entry 10

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,831

Underlying: Common Stock · 387 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002107 · primarydocument.xml · derivative · entry 9

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,218

Underlying: Common Stock · 2,043 shares

Expires not disclosed

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002107 · primarydocument.xml · nonDerivative · entry 8

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,575

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002107 · primarydocument.xml · nonDerivative · entry 7

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,721

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002107 · primarydocument.xml · nonDerivative · entry 6

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,400

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002107 · primarydocument.xml · nonDerivative · entry 5

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,569

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002107 · primarydocument.xml · nonDerivative · entry 4

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,197

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002107 · primarydocument.xml · nonDerivative · entry 3

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,373

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002107 · primarydocument.xml · nonDerivative · entry 2

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,986

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002107 · primarydocument.xml · nonDerivative · entry 1

TARRY JOSEPH DON · CIK 0001637037 · SVP, and CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 19,695

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: The performance shares were earned as of December 31, 2020 for the 2018-2020 performance period, and settled on March 5, 2020.

SEC source: 0001562180-21-002106 · primarydocument.xml · derivative · entry 12

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,438

Underlying: Common Stock · 332 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002106 · primarydocument.xml · derivative · entry 11

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,770

Underlying: Common Stock · 545 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002106 · primarydocument.xml · derivative · entry 10

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,315

Underlying: Common Stock · 570 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002106 · primarydocument.xml · derivative · entry 9

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,885

Underlying: Common Stock · 1,778 shares

Expires not disclosed

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002106 · primarydocument.xml · nonDerivative · entry 8

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,442

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002106 · primarydocument.xml · nonDerivative · entry 7

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,593

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002106 · primarydocument.xml · nonDerivative · entry 6

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,261

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002106 · primarydocument.xml · nonDerivative · entry 5

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,508

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002106 · primarydocument.xml · nonDerivative · entry 4

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,963

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002106 · primarydocument.xml · nonDerivative · entry 3

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,221

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002106 · primarydocument.xml · nonDerivative · entry 2

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,651

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002106 · primarydocument.xml · nonDerivative · entry 1

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 19,962

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: The performance shares were earned as of December 31, 2020 for the 2018-2020 performance period, and settled on March 5, 2020.

SEC source: 0001562180-21-002105 · primarydocument.xml · derivative · entry 12

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,761

Underlying: Common Stock · 341 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002105 · primarydocument.xml · derivative · entry 11

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,102

Underlying: Common Stock · 565 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002105 · primarydocument.xml · derivative · entry 10

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,667

Underlying: Common Stock · 308 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002105 · primarydocument.xml · derivative · entry 9

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,975

Underlying: Common Stock · 771 shares

Expires not disclosed

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002105 · primarydocument.xml · nonDerivative · entry 8

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,576

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002105 · primarydocument.xml · nonDerivative · entry 7

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,749

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002105 · primarydocument.xml · nonDerivative · entry 6

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,408

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002105 · primarydocument.xml · nonDerivative · entry 5

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,694

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002105 · primarydocument.xml · nonDerivative · entry 4

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,129

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002105 · primarydocument.xml · nonDerivative · entry 3

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,285

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · security: Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2021.

SEC source: 0001562180-21-002105 · primarydocument.xml · nonDerivative · entry 2

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,977

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of equity awards. The company utilizes a modified "share withholding" approach in connection with settling equity awards, in which it (i) withholds (in cash) an amount to satisfy tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of equity awards at the prevailing market price. Only these "net shares" are delivered to the recipient of the equity awards.

SEC source: 0001562180-21-002105 · primarydocument.xml · nonDerivative · entry 1

Monroy Henry E · CIK 0001801847 · VP & Corporate Controller

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,471

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: The performance shares were earned as of December 31, 2020 for the 2018-2020 performance period, and settled on March 5, 2020.

SEC source: 0001562180-21-002104 · primarydocument.xml · derivative · entry 12

Darnell Ronald N. · CIK 0001536511 · SVP, PUBLIC POLICY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,119

Underlying: Common Stock · 477 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002104 · primarydocument.xml · derivative · entry 11

Darnell Ronald N. · CIK 0001536511 · SVP, PUBLIC POLICY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,596

Underlying: Common Stock · 508 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002104 · primarydocument.xml · derivative · entry 10

Darnell Ronald N. · CIK 0001536511 · SVP, PUBLIC POLICY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,104

Underlying: Common Stock · 573 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

SEC source: 0001562180-21-002104 · primarydocument.xml · derivative · entry 9

Darnell Ronald N. · CIK 0001536511 · SVP, PUBLIC POLICY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,677

Underlying: Common Stock · 1,625 shares

Expires not disclosed

F4 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F5 · derivative.exercise_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).

F5 · derivative.expiration_date: The restricted stock units vest in three equal annual installments. Vested shares will be delivered to the reporting person on the applicable vesting dates (or, if the company is in a blackout period under its insider trading policy on any vesting date, at a later date after such blackout period ends).