TXNM executive granted 3,216 restricted stock rights

Iverson Brian reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Iverson Brian reported acquisition or exercise transactions in this Form 4 filing.

TXNM Energy Inc. reported that executive Brian Iverson, General Counsel and Senior Vice President of Regulatory and Public Policy, received a grant of 3,216 restricted stock rights. Each right represents a contingent claim to one share of TXNM common stock, awarded at no cash cost to him.

After this award, Iverson directly holds 6,741 restricted stock rights. The units vest in three equal annual installments, with shares delivered on each vesting date or after any applicable blackout period under the company’s insider trading policy.

Insider Trade Summary

Grant/Award: 3,216 shares

Grant/Award 1 txn

Insider Iverson Brian

Role Gen Couns, SVP Reg-Pub Policy

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Rights	3,216	$0.00	$0.00

Holdings After Transaction: Restricted Stock Rights — 6,741 contracts (Direct)

Footnotes (2)

1. F1. Each restricted stock right represents a contingent right to receive one share of TXNM Energy, Inc. common stock
2. F2. 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).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did TXNM (TXNM) report for Brian Iverson?

TXNM reported that executive Brian Iverson received 3,216 restricted stock rights. These awards are part of his equity compensation and give him a contingent right to receive the same number of TXNM common shares as they vest over time.

How many TXNM restricted stock rights does Brian Iverson hold after this Form 4?

Following the reported grant, Brian Iverson directly holds 6,741 restricted stock rights. This total includes the new 3,216-unit award and reflects his accumulated equity-based compensation in TXNM, which will convert into shares as vesting conditions are satisfied.

What do the TXNM restricted stock rights granted to Brian Iverson represent?

Each restricted stock right represents a contingent right to receive one share of TXNM Energy Inc. common stock. The rights are not immediate shares; actual stock will be delivered only when the units vest according to the award’s schedule and conditions.

What is the vesting schedule of Brian Iverson’s new TXNM restricted stock units?

The restricted stock units vest in three equal annual installments. On each vesting date, TXNM will deliver the corresponding common shares to Brian Iverson, unless a blackout period under its insider trading policy delays delivery until that blackout ends.

Does Brian Iverson pay a purchase price for the TXNM restricted stock rights?

The Form 4 lists the transaction price per restricted stock right as $0.0000, indicating no cash purchase price. These units are granted as compensation rather than bought on the open market, aligning his interests with TXNM shareholders as they vest.

What is Brian Iverson’s role at TXNM related to this equity grant?

Brian Iverson serves as General Counsel and Senior Vice President of Regulatory and Public Policy at TXNM Energy Inc. The reported restricted stock rights grant reflects equity-based compensation tied to his executive responsibilities within the company’s leadership team.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/04/2026 - 06:16 PM EST Learn about SEC filing dates

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^*

Iverson Brian

(Last) (First) (Middle)

CORPORATE HEADQUARTERS

MS 1245

(Street)

ALBUQUERQUE NM 87158-1245

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Gen Couns, SVP Reg-Pub Policy

3. Date of Earliest Transaction (Month/Day/Year)
03/03/2026

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

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

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

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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Rights	(1)	03/03/2026		A		3,216		(2)	(2)	Common Stock	3,216	$0	6,741	D

Explanation of Responses:

1. Each restricted stock right represents a contingent right to receive one share of TXNM Energy, Inc. common stock

2. 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).

Remarks:

	/s/ Angela L. Pino, POA for Brian Iverson	03/04/2026
	** 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.