What are Vicky A. Bailey’s TXNM share holdings after the reported transactions?

After the reported transactions, she directly owns 11,692 shares of TXNM common stock. In addition, 8,725 shares are held indirectly through the Vicky Bailey Revocable Living Trust, where she is the sole trustee and sole beneficiary, consolidating her overall equity exposure.

What is the role of the Vicky Bailey Revocable Living Trust in TXNM share ownership?

The trust holds 8,725 TXNM common shares that were previously owned directly and then contributed to the Vicky Bailey Revocable Living Trust. Vicky Bailey serves as sole trustee and sole beneficiary, so the trust reflects an indirect ownership structure rather than a reduction in her economic interest.

TXNM (TXNM) director Vicky Bailey granted 2,698 restricted stock units in equity award

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

BAILEY VICKY A reported acquisition or exercise transactions in this Form 4 filing.

TXNM ENERGY INC director Vicky A. Bailey reported an equity compensation award and an ownership reclassification. She received 2,698 shares of Common Stock in the form of restricted stock units granted on June 10, 2026 at $0.00 per share, which will vest on June 10, 2027 and be settled in common stock, with delivery timing potentially affected by blackout periods and elections under the Director Deferred Right Program. Following this grant, she directly owns 11,692 shares of Common Stock and indirectly holds 8,725 shares through the Vicky Bailey Revocable Living Trust.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider BAILEY VICKY A

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,698	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,692 shares (Direct, null); Common Stock — 8,725 shares (Indirect, By Trust)

Footnotes (1)

These shares represent restricted stock units granted on June 10, 2026 that will vest on June 10, 2027 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Right 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. Excludes 8,725 shares previously owned directly by the reporting person that were contributed to the reporting person's trust, the Vicky Bailey Revocable Living Trust (of which she is the sole trustee and sole beneficiary).

Key Figures

RSU grant: 2,698 shares Grant price: $0.00 per share RSU vesting date: June 10, 2027 +2 more

5 metrics

RSU grant 2,698 shares Restricted stock units granted June 10, 2026

Grant price $0.00 per share Equity award, not open-market purchase

RSU vesting date June 10, 2027 Vesting date for granted units

Direct holdings after grant 11,692 shares Common stock directly owned after transactions

Indirect trust holdings 8,725 shares Held by Vicky Bailey Revocable Living Trust

Key Terms

restricted stock units, Director Deferred Right Program, blackout period, Revocable Living Trust, +1 more

5 terms

restricted stock units financial

"These shares represent restricted stock units granted on June 10, 2026 that will vest"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

Director Deferred Right Program financial

"delivered in accordance with any elections made under the Director Deferred Right Program"

blackout period financial

"provided that if vesting or any applicable deferred delivery dates occur during a blackout period"

A blackout period is a temporary window when company insiders, employees or certain plan participants are barred from buying or selling the company’s stock, usually around earnings releases or other material events. It matters to investors because it reduces the risk of unfair trading based on secret information and can affect share liquidity and timing—think of it as a “no trading” zone set to keep the market fair and orderly.

Revocable Living Trust financial

"contributed to the reporting person's trust, the Vicky Bailey Revocable Living Trust"

indirect ownership financial

"total_shares_following_transaction": "8725.0000", "direct_or_indirect": "I""

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/11/2026 - 04:31 PM Accepted by SEC EDGAR 06/11/2026 - 04:30 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BAILEY VICKY A

(Last)

(First)

(Middle)

3101 NEW MEXICO AVE., NW

UNIT 249

(Street)

WASHINGTON

DISTRICT OF COLUMBIA

20016

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TXNM ENERGY INC [ TXNM ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	06/10/2026		A		2,698⁽¹⁾	A	$0	11,692⁽²⁾	D
Common Stock								8,725	I	By Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. These shares represent restricted stock units granted on June 10, 2026 that will vest on June 10, 2027 and be settled in common stock upon or after vesting (and delivered in accordance with any elections made under the Director Deferred Right 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.

2. Excludes 8,725 shares previously owned directly by the reporting person that were contributed to the reporting person's trust, the Vicky Bailey Revocable Living Trust (of which she is the sole trustee and sole beneficiary).

Remarks:

	/s/ Donna Briggs, POA for Vicky A. Bailey	06/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did TXNM director Vicky A. Bailey report on this Form 4?

Vicky A. Bailey reported receiving 2,698 restricted stock units of TXNM ENERGY INC common stock as a grant on June 10, 2026. These units represent equity compensation rather than an open-market purchase and will convert into shares upon or after vesting.

How many TXNM shares did Vicky A. Bailey acquire in this Form 4 filing?

She acquired 2,698 shares of TXNM common stock in the form of restricted stock units with a grant price of $0.00. These units vest on June 10, 2027 and will be settled in common stock, subject to blackout period and deferral program provisions.

When do Vicky A. Bailey’s newly granted TXNM restricted stock units vest?

The 2,698 restricted stock units granted to Vicky A. Bailey vest on June 10, 2027. Once vested, they will be settled in TXNM common stock and delivered either at vesting or after any elected deferral and applicable blackout periods under the company’s director program.

Are Vicky A. Bailey’s TXNM transactions open-market buys or compensation awards?

The filing shows a compensation-related grant of 2,698 restricted stock units, not an open-market purchase or sale. The transaction code “A” and a price of $0.00 per share indicate an award of stock-based compensation rather than trading activity in the public market.