TXNM director granted 2,698 restricted stock units

MULLARKEY MAUREEN T reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

MULLARKEY MAUREEN T reported acquisition or exercise transactions in this Form 4 filing.

TXNM ENERGY INC director Maureen T. Mullarkey received an equity award in the form of restricted stock units. She was granted 2,698 units of common stock on June 10, 2026 at no purchase price. Following this grant, she directly holds 34,487 shares of TXNM Energy common stock.

The footnotes explain that these restricted stock units will vest on June 10, 2027 and then be settled in common stock. Delivery may be deferred under the Director Deferred Right Program and could occur after any blackout period ends, making this a scheduled, compensation-related award rather than a market transaction.

Insider Trade Summary

Grant/Award: 2,698 shares

Grant/Award 1 txn

Insider MULLARKEY MAUREEN T

Role Director

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

Holdings After Transaction: Common Stock — 34,487 shares (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

RSU grant size: 2,698 shares Grant price: $0.00 per share Post-grant holdings: 34,487 shares +1 more

4 metrics

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

Grant price $0.00 per share Award of restricted stock units

Post-grant holdings 34,487 shares Total common stock directly owned after transaction

Vesting date June 10, 2027 RSUs vest and are settled in common stock

Key Terms

restricted stock units, blackout period, Director Deferred Right Program

3 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.

blackout period financial

"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.

Director Deferred Right Program financial

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

FAQ

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

What did TXNM ENERGY INC director Maureen T. Mullarkey report on this Form 4?

Maureen T. Mullarkey reported receiving 2,698 restricted stock units of TXNM ENERGY INC common stock. This is a compensation-related equity award, not an open-market trade, and increases her direct holdings to 34,487 shares after the grant.

How many TXNM ENERGY INC shares were granted to the director and at what price?

The director was granted 2,698 restricted stock units tied to TXNM ENERGY INC common stock at a price of $0.00 per share. This reflects a stock-based compensation award rather than a purchase or sale on the open market.

When will the newly granted TXNM ENERGY INC restricted stock units vest?

The 2,698 restricted stock units granted to the director will vest on June 10, 2027. Once vested, they will be settled in common stock, with share delivery possibly deferred under the Director Deferred Right Program and after any blackout period.

How many TXNM ENERGY INC shares does the director own after this Form 4 transaction?

After the award, the director directly owns 34,487 shares of TXNM ENERGY INC common stock. This total includes the impact of the 2,698 restricted stock units reported as an acquisition-type transaction on the Form 4 filing.

Is the TXNM ENERGY INC Form 4 transaction a market buy or sell?

The transaction is not a market buy or sell; it is a grant of 2,698 restricted stock units as compensation. The reporting fields classify it as a grant or award acquisition, with no open-market purchase or sale involved.

What is the Director Deferred Right Program mentioned in the TXNM ENERGY INC footnote?

The Director Deferred Right Program allows the director to elect deferred delivery of vested shares. According to the footnote, vested restricted stock units will be settled in common stock in line with elections under this program and after any blackout period ends.

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

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Accepted by SEC EDGAR 06/11/2026 - 04:24 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^*

MULLARKEY MAUREEN T

(Last) (First) (Middle)

925 DARTMOUTH DRIVE

(Street)

RENO NEVADA 89509

(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	34,487	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 Maureen T. Mullarkey	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)