TXNM ENERGY INC (TXNM) VP granted 841 restricted stock rights in Form 4

Rhea-AI Filing Summary

TXNM ENERGY INC reported that officer Gerald R. Bischoff, its VP and Corporate Controller, received a grant of restricted stock rights. He acquired 841 restricted stock rights at a price of $0.00 per right, bringing his directly held derivative position to 2,553 restricted stock rights following the transaction.

Each restricted stock right represents a contingent right to receive one share of TXNM Energy, Inc. common stock. These restricted stock units vest in three equal annual installments, with vested shares delivered on each vesting date or after any applicable blackout period under the company’s insider trading policy ends.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Bischoff Gerald R

Role VP and Corporate Controller

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Rights	841	$0.00	--

Holdings After Transaction: Restricted Stock Rights — 2,553 shares (Direct)

Footnotes (1)

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

Form 4 Insider Transactions: What Each Field Means →

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^*

Bischoff Gerald R

(Last) (First) (Middle)

414 SILVER AVE. SW

MS1075

(Street)

ALBUQUERQUE NM 87102

(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)
	VP and Corporate Controller

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		841		(2)	(2)	Common Stock	841	$0	2,553	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 Gerald R Bischoff	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.

FAQ

What insider transaction did TXNM officer Gerald R. Bischoff report on Form 4 for TXNM?

Gerald R. Bischoff reported receiving a grant of 841 restricted stock rights at a price of $0.00 per right. After this award, he directly holds 2,553 restricted stock rights tied to TXNM Energy, Inc. common stock under the company’s equity compensation program.

What do the restricted stock rights granted to TXNM’s Gerald R. Bischoff represent?

Each restricted stock right represents a contingent right to receive one share of TXNM Energy, Inc. common stock. This means the rights convert into actual shares only when vesting conditions are met, aligning the officer’s compensation with future company performance and continued service.

How do the restricted stock units granted to TXNM’s Gerald R. Bischoff vest over time?

The restricted stock units vest in three equal annual installments. On each vesting date, vested shares are scheduled to be delivered, subject to the company’s insider trading policy, which can delay delivery if a blackout period is in effect at that time.

What is Gerald R. Bischoff’s total restricted stock rights position in TXNM after the reported grant?

Following the reported grant, Gerald R. Bischoff directly holds 2,553 restricted stock rights. This total reflects the newly awarded 841 rights plus his prior holdings, all of which are linked to potential future delivery of TXNM Energy, Inc. common shares upon vesting.

Does the TXNM restricted stock grant to Gerald R. Bischoff involve any purchase price?

No cash purchase is involved; the 841 restricted stock rights were granted at a price of $0.00 per right. This structure is typical of equity awards that form part of an executive’s compensation package rather than an open-market stock purchase transaction.