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).

1. Name and Address of Reporting Person* Darnell Ronald N. (Last) (First) (Middle) CORPORATE HEADQUARTERS MS1275 (Street) ALBUQUERQUE NM 87158-1275 (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) SVP, PUBLIC POLICY
	3. Date of Earliest Transaction (Month/Day/Year) 03/04/2016
	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
Common Stock(1)	03/04/2016		M		679	A	(1)	29,278	D
Common Stock(2)	03/04/2016		F		219	D	$32.89(2)	29,059	D
Common Stock(1)	03/05/2016		M		802	A	(1)	29,861	D
Common Stock(2)	03/05/2016		F		259	D	$32.89(2)	29,602	D
Common Stock(1)	03/06/2016		M		886	A	(1)	30,488	D
Common Stock(2)	03/06/2016		F		286	D	$32.89(2)	30,202	D
Common Stock(3)	03/07/2016		S		3,712	D	$33.09(3)(4)	26,490	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
Restricted Stock Rights	(5)	03/04/2016		M			679	(6)	(6)	Common Stock	679	$0.00	5,616	D
Restricted Stock Rights	(5)	03/05/2016		M			802	(6)	(6)	Common Stock	802	$0.00	4,814	D
Restricted Stock Rights	(5)	03/06/2016		M			886	(6)	(6)	Common Stock	886	$0.00	3,928	D

Explanation of Responses:

1. Represents the portions of previous awards of restricted stock rights that vested effective as of March 4, March 5, and March 6, 2016.

2. Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the vesting of the restricted stock rights referenced in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of restricted stock rights upon vesting, in which it (i) withholds (in cash) the amount required to satisfy the tax withholding obligations and remits such amount to the relevant tax authorities, and (ii) directs a designated broker to purchase on the open market the number of shares of the company's common stock that can be acquired with the after-tax value of the vested restricted stock rights award at the prevailing market price. Only these "net shares" are delivered to the recipient of the award.

3. Represents additional shares sold in the open market to satisfy the reporting persons tax obligations arising in connection with the vesting of the equity awards referenced in (1) above, in addition to the minimum statutory tax withholding for the vesting of equity awards.

4. Price represents a weighted average fill price ranging from 33.08 to 33.10.

5. Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock.

6. 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/ Laurie S. Monfiletto, POA for Ronald N. Darnell	03/08/2016
	** 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).
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