TXNM Energy executive granted 691 phantom stock units

TXNM Energy Inc executive chair Patricia K. Collawn reported an acquisition of phantom stock under a company savings plan.

Rhea-AI Filing Summary

TXNM Energy Inc executive chair Patricia K. Collawn reported an acquisition of phantom stock under a company savings plan. On the cash dividend payment date of May 15, 2026, she was credited with 691 phantom stock shares through notational dividend reinvestment.

These phantom stock shares are held indirectly in the TXNM Energy, Inc. Executive Savings Plan II and are convertible into common stock on a one-for-one basis. Following this grant, her plan-related phantom stock balance is 97,852 shares, which will settle upon retirement or other termination of service.

Insider Trade Summary

Grant/Award: 691 shares

Grant/Award 1 txn

Insider COLLAWN PATRICIA K

Role EXECUTIVE CHAIR

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Shares	691	$0.00	$0.00

Holdings After Transaction: Phantom Stock Shares — 97,852 contracts (Indirect, TXNM Common Stock Fund - TXNM Energy, Inc. Executive Savings Plan II)

Footnotes (3)

1. F1. The security converts to common stock on a one-for-one basis.
2. F2. Reflects the amount of phantom stock shares acquired under the TXNM Energy, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of May 15, 2026.
3. F3. The phantom stock shares were acquired under the TXNM Energy, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

Key Figures

Phantom stock granted: 691 shares Phantom stock holdings after grant: 97,852 shares Conversion ratio: 1 phantom share : 1 common share +1 more

4 metrics

Phantom stock granted 691 shares Notational dividend reinvestment on May 15, 2026

Phantom stock holdings after grant 97,852 shares Executive Savings Plan II balance after transaction

Conversion ratio 1 phantom share : 1 common share Phantom stock converts to common stock

Transaction price per share $0.00 per share Grant/award acquisition of phantom stock shares

Key Terms

Phantom Stock Shares, Executive Savings Plan II, notational dividend reinvestment

3 terms

Phantom Stock Shares financial

"Reflects the amount of phantom stock shares acquired under the TXNM Energy, Inc. Executive Savings Plan II"

Executive Savings Plan II financial

"acquired under the TXNM Energy, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement"

notational dividend reinvestment financial

"acquired under the TXNM Energy, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date"

FAQ

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What insider transaction did TXNM Energy (TXNM) report for Patricia K. Collawn?

TXNM Energy reported that executive chair Patricia K. Collawn acquired 691 phantom stock shares. These were credited through notational dividend reinvestment under the Executive Savings Plan II on May 15, 2026, increasing her plan-related phantom stock holdings to 97,852 shares.

What are the terms of the phantom stock shares reported for TXNM Energy (TXNM)?

The phantom stock shares convert to TXNM Energy common stock on a one-for-one basis. They were acquired at a stated price of $0.00 under the Executive Savings Plan II and will settle when Patricia K. Collawn retires or otherwise terminates her service.

How many TXNM Energy phantom stock shares does Patricia K. Collawn hold after this Form 4?

After this transaction, Patricia K. Collawn holds 97,852 phantom stock shares in the TXNM Energy Executive Savings Plan II. This balance reflects the addition of 691 phantom stock shares credited via notational dividend reinvestment on the May 15, 2026 cash dividend payment date.

How were the new TXNM Energy (TXNM) phantom stock shares acquired?

The 691 phantom stock shares were acquired through notational dividend reinvestment within TXNM Energy’s Executive Savings Plan II. On the May 15, 2026 cash dividend payment date, the dividend amount was notionally reinvested, increasing Patricia K. Collawn’s phantom stock account in the plan.

Is Patricia K. Collawn’s TXNM Energy phantom stock held directly or indirectly?

Her 97,852 phantom stock shares are held indirectly through the TXNM Energy, Inc. Executive Savings Plan II. The plan credits phantom stock units that mirror common stock on a one-for-one basis and will settle in connection with retirement or other termination of service.

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

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Accepted by SEC EDGAR 05/19/2026 - 11:47 AM EDT 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^*

COLLAWN PATRICIA K

(Last) (First) (Middle)

CORPORATE HEADQUARTERS

MS 1275

(Street)

ALBUQUERQUE NEW MEXICO 87158-1275

(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
X	Officer (give title below)		Other (specify below)
	EXECUTIVE CHAIR

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/15/2026

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)
			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
Phantom Stock Shares	(1)	05/15/2026		A		691(2)		(3)	(3)	Common Stock	691	$0	97,852	I	TXNM Common Stock Fund - TXNM Energy, Inc. Executive Savings Plan II

Explanation of Responses:

1. The security converts to common stock on a one-for-one basis.

2. Reflects the amount of phantom stock shares acquired under the TXNM Energy, Inc. Executive Savings Plan II through notational dividend reinvestment on the cash dividend payment date of May 15, 2026.

3. The phantom stock shares were acquired under the TXNM Energy, Inc. Executive Savings Plan II, and will settle upon the Reporting Person's retirement or other termination of service.

Remarks:

	/s/ Angela L. Pino, POA for Patricia K. Collawn	05/19/2026
	** 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)