SEC FORM 4

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

ORTIZ PATRICK T

(Last)

(First)

(Middle)

ALVARADO SQUARE

MS 2822

(Street)

ALBUQUERQUE

87158

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PNM RESOURCES INC [ PNM ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	SR VP, GEN COUNSEL

3. Date of Earliest Transaction (Month/Day/Year)
08/02/2005

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
COMMON STOCK	07/29/2005		M		16,280	A	$13.0833	37,499	D
COMMON STOCK	07/29/2005		M		24,000	A	$11.6667	61,499	D
COMMON STOCK	07/29/2005		M		20,000	A	$10.5417	81,499	D
COMMON STOCK	07/29/2005		M		9,501	A	$17.1667	91,000	D
COMMON STOCK	07/29/2005		S		16,280	D	$29.3	74,720	D
COMMON STOCK	07/29/2005		S		24,000	D	$29.3	50,720	D
COMMON STOCK	07/29/2005		S		20,000	D	$29.3	30,720	D
COMMON STOCK	07/29/2005		S		9,501	D	$29.3	21,219	D
COMMON STOCK	07/29/2005		M		8,800	A	$29.3	30,019	D
COMMON STOCK	07/29/2005		M		1,200	A	$29.3475	31,219	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
STOCK OPTIONS	$13.0833	07/29/2005		M			16,280	12/31/1997⁽¹⁾	12/31/2006	COMMON STOCK	16,280	$29.3	115,151	D
STOCK OPTIONS	$11.6667	07/29/2005		M			24,000	02/08/2000⁽²⁾	02/08/2009	COMMON STOCK	24,000	$29.3	91,151	D
STOCK OPTIONS	$10.5417	07/29/2005		M			20,000	02/07/2001⁽³⁾	02/07/2010	COMMON STOCK	20,000	$29.3	71,151	D
STOCK OPTIONS	$17.1667	07/29/2005		M			9,501	02/08/2003⁽⁴⁾	02/08/2012	COMMON STOCK	9,501	$29.3	61,650	D
STOCK OPTIONS	$10.5417	07/29/2005		M			8,800	02/07/2001⁽³⁾	02/07/2010	COMMON STOCK	8,800	$29.3	52,850	D
STOCK OPTIONS	$10.5417	07/29/2005		M			1,200	02/07/2001⁽³⁾	02/07/2010	COMMON STOCK	1,200	$24.3475	51,650⁽⁵⁾	D

Explanation of Responses:

1. THIS GRANT VESTS ANNUALLY OVER A THREE YEAR PERIOD BEGINNING 12/31/1997.

2. THIS GRANT VESTS ANNUALLY OVER A THREE YEAR PERIOD BEGINNING 02/08/2000.

3. THIS GRANT VESTS ANNUALLY OVER A THREE YEAR PERIOD BEGINNING 02/07/2001.

4. THIS GRANT VESTS ANNUALLY OVER A THREE YEAR PERIOD BEGINNING 02/08/2003.

5. ON 06/11/04, THE COMMON STOCK OF PNM RESOURCES, INC. SPLIT 3 FOR 2, RESULTING IN THE REPORTING PERSON'S ACQUISITION OF 39,144 ADDITIONAL STOCK OPTIONS, AND IS INCLUDED IN THE TOTAL.

Remarks:

	PATRICK T. ORTIZ	08/02/2005
	** 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.