TXNM

SEC source: 0001562180-19-001760 · primarydocument.xml · derivative · entry 3

COLLAWN PATRICIA K · CIK 0001083786 · Director · CHAIRMAN, PRESIDENT AND CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 42,618

Underlying: Common Stock · 13,047 shares

Expires not disclosed

F3 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F4 · derivative.exercise_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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).

F4 · derivative.expiration_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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: 0001562180-19-001760 · primarydocument.xml · nonDerivative · entry 2

COLLAWN PATRICIA K · CIK 0001083786 · Director · CHAIRMAN, PRESIDENT AND CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 460,047

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

F2 · price: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

SEC source: 0001562180-19-001760 · primarydocument.xml · nonDerivative · entry 1

COLLAWN PATRICIA K · CIK 0001083786 · Director · CHAIRMAN, PRESIDENT AND CEO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 471,970

F1 · security: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

F1 · price: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

SEC source: 0001562180-19-001759 · primarydocument.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,928

Underlying: Common Stock · 2,010 shares

Expires not disclosed

F3 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F4 · derivative.exercise_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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).

F4 · derivative.expiration_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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: 0001562180-19-001759 · primarydocument.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 68,058

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

F2 · price: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

SEC source: 0001562180-19-001759 · primarydocument.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 69,994

F1 · security: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

F1 · price: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

SEC source: 0001562180-19-001764 · primarydocument.xml · derivative · entry 3

TARRY JOSEPH DON · CIK 0001637037 · VP, CONTROLLER AND TREASURER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,188

Underlying: Common Stock · 964 shares

Expires not disclosed

F3 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F4 · derivative.exercise_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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).

F4 · derivative.expiration_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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: 0001562180-19-001764 · primarydocument.xml · nonDerivative · entry 2

TARRY JOSEPH DON · CIK 0001637037 · VP, CONTROLLER AND TREASURER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,490

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

F2 · price: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

SEC source: 0001562180-19-001764 · primarydocument.xml · nonDerivative · entry 1

TARRY JOSEPH DON · CIK 0001637037 · VP, CONTROLLER AND TREASURER

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,357

F1 · security: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

F1 · price: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

SEC source: 0001562180-19-001763 · primarydocument.xml · derivative · entry 3

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,398

Underlying: Common Stock · 1,709 shares

Expires not disclosed

F3 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F4 · derivative.exercise_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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).

F4 · derivative.expiration_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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: 0001562180-19-001763 · primarydocument.xml · nonDerivative · entry 2

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,456

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

F2 · price: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

SEC source: 0001562180-19-001763 · primarydocument.xml · nonDerivative · entry 1

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,065

F1 · security: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

F1 · price: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

SEC source: 0001562180-19-001762 · primarydocument.xml · derivative · entry 3

Eldred Charles N · CIK 0001350048 · EVP, CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,281

Underlying: Common Stock · 3,656 shares

Expires not disclosed

F3 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F4 · derivative.exercise_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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).

F4 · derivative.expiration_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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: 0001562180-19-001762 · primarydocument.xml · nonDerivative · entry 2

Eldred Charles N · CIK 0001350048 · EVP, CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 113,350

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

F2 · price: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

SEC source: 0001562180-19-001762 · primarydocument.xml · nonDerivative · entry 1

Eldred Charles N · CIK 0001350048 · EVP, CFO

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 115,760

F1 · security: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

F1 · price: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

SEC source: 0001562180-19-001761 · primarydocument.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,802

Underlying: Common Stock · 1,432 shares

Expires not disclosed

F3 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock

F4 · derivative.exercise_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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).

F4 · derivative.expiration_date: The restricted stock units vest in three equal annual installments beginning one year from March 7, 2019. 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: 0001562180-19-001761 · primarydocument.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,046

F2 · security: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

F2 · price: Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share award described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, 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 the performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award.

SEC source: 0001562180-19-001761 · primarydocument.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,995

F1 · security: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

F1 · price: The performance shares were earned as of December 31, 2018 for the 2016-2018 performance period, and settled on March 4, 2019.

SEC source: 0001562180-18-002641 · primarydocument.xml · nonDerivative · entry 1

SCHWANZ DONALD K · CIK 0001046239 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,371

F1 · shares: These shares represent restricted stock units granted on May 22, 2018 that will vest on May 22, 2019 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Rights Program), provided that if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date after such blackout period ends.

SEC source: 0001562180-18-002646 · primarydocument.xml · nonDerivative · entry 1

CONLEY E RENAE · CIK 0001125828 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 16,975

F1 · shares: These shares represent restricted stock units granted on May 22, 2018 that will vest on May 22, 2019 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Rights Program), provided that if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date after such blackout period ends.

SEC source: 0001562180-18-002645 · primarydocument.xml · nonDerivative · entry 1

BECKER NORMAN P. · CIK 0001674431 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,106

F1 · shares: These shares represent restricted stock units granted on May 22, 2018 that will vest on May 22, 2019 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Rights Program), provided that if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date after such blackout period ends.

SEC source: 0001562180-18-002643 · primarydocument.xml · nonDerivative · entry 1

Gutierrez Sidney M. · CIK 0001638692 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,139

F1 · shares: These shares represent restricted stock units granted on May 22, 2018 that will vest on May 22, 2019 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Rights Program), provided that if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date after such blackout period ends.

SEC source: 0001562180-18-002644 · primarydocument.xml · nonDerivative · entry 1

FOHRER ALAN J · CIK 0001188146 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,403

F1 · shares: These shares represent restricted stock units granted on May 22, 2018 that will vest on May 22, 2019 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Rights Program), provided that if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date after such blackout period ends.

SEC source: 0001562180-18-002642 · primarydocument.xml · nonDerivative · entry 1

MULLARKEY MAUREEN T · CIK 0001179991 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,491

F1 · shares: These shares represent restricted stock units granted on May 22, 2018 that will vest on May 22, 2019 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Rights Program), provided that if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date after such blackout period ends.

SEC source: 0001562180-18-002640 · primarydocument.xml · nonDerivative · entry 1

WILKINSON BRUCE W · CIK 0001199548 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 44,958

F1 · shares: These shares represent restricted stock units granted on May 22, 2018 that will vest on May 22, 2019 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Rights Program), provided that if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date after such blackout period ends.

SEC source: 0001562180-18-002572 · primarydocument.xml · derivative · entry 2

SCHWANZ DONALD K · CIK 0001046239 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 779

Underlying: Common Stock · 780 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002572 · primarydocument.xml · nonDerivative · entry 1

SCHWANZ DONALD K · CIK 0001046239 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,027

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002573 · primarydocument.xml · derivative · entry 2

WILKINSON BRUCE W · CIK 0001199548 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 779

Underlying: Common Stock · 780 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002573 · primarydocument.xml · nonDerivative · entry 1

WILKINSON BRUCE W · CIK 0001199548 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 42,614

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002571 · primarydocument.xml · derivative · entry 2

Gutierrez Sidney M. · CIK 0001638692 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 779

Underlying: Common Stock · 780 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002571 · primarydocument.xml · nonDerivative · entry 1

Gutierrez Sidney M. · CIK 0001638692 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,795

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002570 · primarydocument.xml · derivative · entry 2

MULLARKEY MAUREEN T · CIK 0001179991 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 779

Underlying: Common Stock · 780 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002570 · primarydocument.xml · nonDerivative · entry 1

MULLARKEY MAUREEN T · CIK 0001179991 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,147

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002569 · primarydocument.xml · derivative · entry 2

CONLEY E RENAE · CIK 0001125828 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 779

Underlying: Common Stock · 780 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002569 · primarydocument.xml · nonDerivative · entry 1

CONLEY E RENAE · CIK 0001125828 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,631

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002568 · primarydocument.xml · derivative · entry 2

FOHRER ALAN J · CIK 0001188146 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 779

Underlying: Common Stock · 780 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002568 · primarydocument.xml · nonDerivative · entry 1

FOHRER ALAN J · CIK 0001188146 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,059

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002567 · primarydocument.xml · derivative · entry 2

BECKER NORMAN P. · CIK 0001674431 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 779

Underlying: Common Stock · 780 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002567 · primarydocument.xml · nonDerivative · entry 1

BECKER NORMAN P. · CIK 0001674431 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,762

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002486 · primarydocument.xml · derivative · entry 2

SCHWANZ DONALD K · CIK 0001046239 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,559

Underlying: Common Stock · 927 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002486 · primarydocument.xml · nonDerivative · entry 1

SCHWANZ DONALD K · CIK 0001046239 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 32,247

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002489 · primarydocument.xml · derivative · entry 2

Gutierrez Sidney M. · CIK 0001638692 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,559

Underlying: Common Stock · 927 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002489 · primarydocument.xml · nonDerivative · entry 1

Gutierrez Sidney M. · CIK 0001638692 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,015

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002488 · primarydocument.xml · derivative · entry 2

MULLARKEY MAUREEN T · CIK 0001179991 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,559

Underlying: Common Stock · 927 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002488 · primarydocument.xml · nonDerivative · entry 1

MULLARKEY MAUREEN T · CIK 0001179991 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,367

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002487 · primarydocument.xml · derivative · entry 2

WILKINSON BRUCE W · CIK 0001199548 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,559

Underlying: Common Stock · 927 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002487 · primarydocument.xml · nonDerivative · entry 1

WILKINSON BRUCE W · CIK 0001199548 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,834

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002485 · primarydocument.xml · derivative · entry 2

FOHRER ALAN J · CIK 0001188146 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,559

Underlying: Common Stock · 927 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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: 0001562180-18-002485 · primarydocument.xml · nonDerivative · entry 1

FOHRER ALAN J · CIK 0001188146 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,279

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 · shares: Represents the portions of previous awards of restricted stock rights that vested effective as of the applicable vesting date.

SEC source: 0001562180-18-002484 · primarydocument.xml · derivative · entry 2

CONLEY E RENAE · CIK 0001125828 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,559

Underlying: Common Stock · 927 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.

F2 · derivative.exercise_price: Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

F3 · 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).

F3 · 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).