TXNM ENERGY INC (TXNM) director awarded 2,698 restricted stock units in equity grant

Rhea-AI Filing Summary

TXNM ENERGY INC director Lillian J. Montoya received an equity grant in the form of restricted stock units. She acquired 2,698 shares of Common Stock on June 10, 2026 as a grant, with no purchase price, bringing her direct holdings to 8,992 shares.

The footnote explains these 2,698 units are restricted stock units that will vest on June 10, 2027 and be settled in common stock upon or after vesting, subject to any elections under the Director Deferred Right Program. If vesting or any deferred delivery date falls during a blackout period, delivery of vested shares will be delayed until the blackout period ends. This is a routine, compensation-related award rather than an open-market share purchase.

Insights

Equity Compensation Analyst

Routine director RSU grant, non-cash, modest in scale.

Director Lillian J. Montoya received 2,698 restricted stock units in TXNM ENERGY INC on June 10, 2026. The grant carries a one-year vesting schedule to June 10, 2027 and involves no cash paid by the director.

The units will settle in common stock upon or after vesting, with timing influenced by elections under the Director Deferred Right Program and any blackout periods. After this grant, her direct holdings total 8,992 shares of Common Stock, suggesting a routine equity-based compensation event rather than a significant market signal.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Montoya Lillian J

Role null

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

Holdings After Transaction: Common Stock — 8,992 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

RSU grant size: 2,698 shares Holdings after transaction: 8,992 shares Grant price per share: $0.0000 +1 more

4 metrics

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

Holdings after transaction 8,992 shares Common Stock directly held after grant

Grant price per share $0.0000 Non-cash restricted stock unit award

Vesting date June 10, 2027 RSUs vest and settle in common stock upon or after this date

Key Terms

restricted stock units, Director Deferred Right Program, blackout period, Form 4

4 terms

restricted stock units financial

"These shares represent restricted stock units granted on June 10, 2026 that will vest on June 10, 2027"

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 regulatory

"if vesting or any applicable deferred delivery dates occur during a blackout period, the vested shares will be delivered at a later date"

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.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/11/2026 - 04:26 PM Accepted by SEC EDGAR 06/11/2026 - 04:25 PM 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^*

Montoya Lillian J

(Last) (First) (Middle)

2716 VENTOSO

(Street)

SANTA FE NEW MEXICO 87505

(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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/10/2026		A		2,698(1)	A	$0	8,992	D

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

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.

Remarks:

	/s/ Donna Briggs, POA for Lillian J. Montoya	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)

FAQ

What did TXNM director Lillian J. Montoya report on this Form 4 for TXNM?

Director Lillian J. Montoya reported receiving 2,698 restricted stock units of TXNM ENERGY INC common stock as a grant on June 10, 2026, increasing her direct holdings to 8,992 shares. This was a compensation-related equity award, not an open-market stock purchase.

How many TXNM ENERGY INC shares did Lillian J. Montoya acquire in this transaction?

She acquired 2,698 shares of TXNM ENERGY INC common stock through a restricted stock unit grant. The grant price was effectively zero, indicating these shares were awarded as part of director compensation rather than bought in the open market.

When do Lillian J. Montoya’s TXNM restricted stock units vest and settle?

The 2,698 restricted stock units granted to Lillian J. Montoya vest on June 10, 2027 and will be settled in TXNM common stock upon or after vesting. Settlement timing also depends on elections under the Director Deferred Right Program and blackout period rules.

How many TXNM shares does Lillian J. Montoya hold after this Form 4 transaction?

Following the grant, Lillian J. Montoya directly holds 8,992 shares of TXNM ENERGY INC common stock. This figure includes the newly awarded 2,698 restricted stock units, which convert into shares upon or after vesting according to the program’s terms.

Is the TXNM Form 4 transaction an open-market purchase by Lillian J. Montoya?

No, this Form 4 shows a grant of 2,698 restricted stock units to Lillian J. Montoya at no cost, not an open-market purchase. The award is part of director compensation and will convert into TXNM common stock after vesting and any blackout restrictions.