TXNM

SEC source: 0001562180-22-002337 · primarydocument.xml · nonDerivative · entry 2

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,184

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: 0001562180-22-002337 · primarydocument.xml · nonDerivative · entry 1

OLSON CHRIS M · CIK 0001699190 · SVP, UTILITY OPERATIONS

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,625

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, 2021 for the 2019-2021 performance period, and settled on March 1, 2022.

SEC source: 0001562180-22-002336 · primarydocument.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,889

Underlying: Common Stock · 1,770 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. 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. 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: 0001562180-22-002336 · primarydocument.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 38,044

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: 0001562180-22-002336 · primarydocument.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 39,619

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, 2021 for the 2019-2021 performance period, and settled on March 1, 2022.

SEC source: 0001562180-22-002335 · primarydocument.xml · derivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,051

Underlying: Common Stock · 2,160 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. 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. 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: 0001562180-22-002335 · primarydocument.xml · nonDerivative · entry 2

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 81,247

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: 0001562180-22-002335 · primarydocument.xml · nonDerivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 84,073

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, 2021 for the 2019-2021 performance period, and settled on March 1, 2022.

SEC source: 0001562180-22-002333 · primarydocument.xml · derivative · entry 4

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

10b5-1 filing: Not disclosed

Ownership: Indirect · PNM Common Stock Fund - PNM Resources Executive Savings Plan II

Disclosed balance after: 85,489

Underlying: Common Stock · 670 shares

Expires not disclosed

F5 · derivative.exercise_price: The security converts to common stock on a one-for-one basis.

F6 · shares: Reflects the amount of phantom shares acquired under the PNM Resources, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of February 24, 2022.

F7 · derivative.exercise_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

F7 · derivative.expiration_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

SEC source: 0001562180-22-002334 · primarydocument.xml · derivative · entry 4

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Indirect · PNM Common Stock Fund - PNM Resources Executive Savings Plan II

Disclosed balance after: 7,777

Underlying: Common Stock · 61 shares

Expires not disclosed

F5 · derivative.exercise_price: The security converts to common stock on a one-for-one basis.

F6 · shares: Reflects the amount of phantom shares acquired under the PNM Resources, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of February 24, 2022.

F7 · derivative.exercise_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

F7 · derivative.expiration_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

SEC source: 0001562180-21-007072 · primarydocument.xml · derivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Indirect · PNM Common Stock Fund - PNM Resources Executive Savings Plan II

Disclosed balance after: 84,819

Underlying: Common Stock · 555 shares

Expires not disclosed

F1 · derivative.exercise_price: The security converts to common stock on a one-for-one basis.

F2 · shares: Reflects the amount of phantom shares acquired under the PNM Resources, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of November 12, 2021.

F3 · derivative.exercise_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

F3 · derivative.expiration_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

SEC source: 0001562180-21-007073 · primarydocument.xml · derivative · entry 1

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Indirect · PNM Common Stock Fund - PNM Resources Executive Savings Plan II

Disclosed balance after: 7,716

Underlying: Common Stock · 51 shares

Expires not disclosed

F1 · derivative.exercise_price: The security converts to common stock on a one-for-one basis.

F2 · shares: Reflects the amount of phantom shares acquired under the PNM Resources, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of November 12, 2021.

F3 · derivative.exercise_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

F3 · derivative.expiration_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

SEC source: 0001562180-21-005338 · primarydocument.xml · derivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Indirect · PNM Common Stock Fund - PNM Resources Executive Savings Plan II

Disclosed balance after: 84,264

Underlying: Common Stock · 564 shares

Expires not disclosed

F1 · derivative.exercise_price: The security converts to common stock on a one-for-one basis.

F2 · shares: Reflects the amount of phantom shares acquired under the PNM Resources, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of August 13, 2021.

F3 · derivative.exercise_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

F3 · derivative.expiration_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

SEC source: 0001562180-21-005339 · primarydocument.xml · derivative · entry 1

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Indirect · PNM Common Stock Fund - PNM Resources Executive Savings Plan II

Disclosed balance after: 7,665

Underlying: Common Stock · 51 shares

Expires not disclosed

F1 · derivative.exercise_price: The security converts to common stock on a one-for-one basis.

F2 · shares: Reflects the amount of phantom shares acquired under the PNM Resources, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of August 13, 2021.

F3 · derivative.exercise_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

F3 · derivative.expiration_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

SEC source: 0001562180-21-003497 · primarydocument.xml · derivative · entry 1

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

10b5-1 filing: Not disclosed

Ownership: Indirect · PNM Common Stock Fund - PNM Resources Executive Savings Plan II

Disclosed balance after: 83,700

Underlying: Common Stock · 543 shares

Expires not disclosed

F1 · derivative.exercise_price: The security converts to common stock on a one-for-one basis.

F2 · shares: Reflects the amount of phantom shares acquired under the PNM Resources, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of May 14, 2021.

F3 · derivative.exercise_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

F3 · derivative.expiration_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

SEC source: 0001562180-21-003498 · primarydocument.xml · derivative · entry 1

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Indirect · PNM Common Stock Fund - PNM Resources Executive Savings Plan II

Disclosed balance after: 7,614

Underlying: Common Stock · 49 shares

Expires not disclosed

F1 · derivative.exercise_price: The security converts to common stock on a one-for-one basis.

F2 · shares: Reflects the amount of phantom shares acquired under the PNM Resources, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of May 14, 2021.

F3 · derivative.exercise_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

F3 · derivative.expiration_date: The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

SEC source: 0001562180-21-003439 · primarydocument.xml · nonDerivative · entry 1

SCHWANZ DONALD K · CIK 0001046239 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,554

F1 · shares: These shares represent restricted stock units granted on May 11, 2021 that will vest on May 11, 2022 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: 0001562180-21-003438 · primarydocument.xml · nonDerivative · entry 1

FOHRER ALAN J · CIK 0001188146 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,954

F1 · shares: These shares represent restricted stock units granted on May 11, 2021 that will vest on May 11, 2022 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: 0001562180-21-003437 · primarydocument.xml · nonDerivative · entry 1

MULLARKEY MAUREEN T · CIK 0001179991 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 20,042

F1 · shares: These shares represent restricted stock units granted on May 11, 2021 that will vest on May 11, 2022 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: 0001562180-21-003436 · primarydocument.xml · nonDerivative · entry 1

CONLEY E RENAE · CIK 0001125828 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,526

F1 · shares: These shares represent restricted stock units granted on May 11, 2021 that will vest on May 11, 2022 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: 0001562180-21-003435 · primarydocument.xml · nonDerivative · entry 1

Gutierrez Sidney M. · CIK 0001638692 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 17,690

F1 · shares: These shares represent restricted stock units granted on May 11, 2021 that will vest on May 11, 2022 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: 0001562180-21-003434 · primarydocument.xml · nonDerivative · entry 1

BECKER NORMAN P. · CIK 0001674431 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 18,657

F1 · shares: These shares represent restricted stock units granted on May 11, 2021 that will vest on May 11, 2022 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: 0001562180-21-003433 · primarydocument.xml · nonDerivative · entry 1

HUGHES JAMES ALTON · CIK 0001258525 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,772

F1 · shares: These shares represent restricted stock units granted on May 11, 2021 that will vest on May 11, 2022 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: 0001562180-21-003432 · primarydocument.xml · nonDerivative · entry 1

BAILEY VICKY A · CIK 0001295122 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,772

F1 · shares: These shares represent restricted stock units granted on May 11, 2021 that will vest on May 11, 2022 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: 0001562180-21-002108 · primarydocument.xml · derivative · entry 12

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 27,374

Underlying: Common Stock · 4,217 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: 0001562180-21-002108 · primarydocument.xml · derivative · entry 11

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,591

Underlying: Common Stock · 4,349 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: 0001562180-21-002108 · primarydocument.xml · derivative · entry 10

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 35,940

Underlying: Common Stock · 5,171 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: 0001562180-21-002108 · primarydocument.xml · derivative · entry 9

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 41,111

Underlying: Common Stock · 14,590 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: 0001562180-21-002108 · primarydocument.xml · nonDerivative · entry 8

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 602,600

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: 0001562180-21-002108 · primarydocument.xml · nonDerivative · entry 7

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 604,509

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: 0001562180-21-002108 · primarydocument.xml · nonDerivative · entry 6

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 600,292

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: 0001562180-21-002108 · primarydocument.xml · nonDerivative · entry 5

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 602,260

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: 0001562180-21-002108 · primarydocument.xml · nonDerivative · entry 4

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 597,911

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: 0001562180-21-002108 · primarydocument.xml · nonDerivative · entry 3

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 600,251

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: 0001562180-21-002108 · 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: 595,080

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: 0001562180-21-002108 · 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: 625,288

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: 0001562180-21-002109 · primarydocument.xml · derivative · entry 12

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,548

Underlying: Common Stock · 1,145 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: 0001562180-21-002109 · primarydocument.xml · derivative · entry 11

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,693

Underlying: Common Stock · 1,219 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: 0001562180-21-002109 · primarydocument.xml · derivative · entry 10

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,912

Underlying: Common Stock · 1,449 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: 0001562180-21-002109 · primarydocument.xml · derivative · entry 9

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 11,361

Underlying: Common Stock · 4,040 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: 0001562180-21-002109 · primarydocument.xml · nonDerivative · entry 8

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,243

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: 0001562180-21-002109 · primarydocument.xml · nonDerivative · entry 7

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,762

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.

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

SEC source: 0001562180-21-002109 · primarydocument.xml · nonDerivative · entry 6

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 126,617

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: 0001562180-21-002109 · primarydocument.xml · nonDerivative · entry 5

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 127,169

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: 0001562180-21-002109 · primarydocument.xml · nonDerivative · entry 4

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 125,950

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: 0001562180-21-002109 · primarydocument.xml · nonDerivative · entry 3

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 126,606

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: 0001562180-21-002109 · primarydocument.xml · nonDerivative · entry 2

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 125,157

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: 0001562180-21-002109 · primarydocument.xml · nonDerivative · entry 1

Eldred Charles N · CIK 0001350048 · EVP Corp Development & Finance

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 133,855

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: 0001562180-21-002110 · primarydocument.xml · derivative · entry 12

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 3,891

Underlying: Common Stock · 820 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 11

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

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 4,711

Underlying: Common Stock · 623 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).