0001562180-17-001154.txt : 20170307 0001562180-17-001154.hdr.sgml : 20170307 20170307135454 ACCESSION NUMBER: 0001562180-17-001154 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170303 FILED AS OF DATE: 20170307 DATE AS OF CHANGE: 20170307 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: PNM RESOURCES INC CENTRAL INDEX KEY: 0001108426 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 850019030 STATE OF INCORPORATION: NM FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 414 SILVER AVE. SW CITY: ALBUQUERQUE STATE: NM ZIP: 87102-3289 BUSINESS PHONE: 5052412700 MAIL ADDRESS: STREET 1: 414 SILVER AVE. SW STREET 2: ATTN: MS 0905 - CATHY MARTINEZ CITY: ALBUQUERQUE STATE: NM ZIP: 87102-3289 FORMER COMPANY: FORMER CONFORMED NAME: MANZANO CORP DATE OF NAME CHANGE: 20000303 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Eldred Charles N CENTRAL INDEX KEY: 0001350048 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-32462 FILM NUMBER: 17671414 MAIL ADDRESS: STREET 1: 414 SILVER AVE SW MS 1275 CITY: ALBUQUERQUE STATE: NM ZIP: 87102-3289 4 1 primarydocument.xml PRIMARY DOCUMENT X0306 4 2017-03-03 false 0001108426 PNM RESOURCES INC PNM 0001350048 Eldred Charles N CORPORATE HEADQUARTERS MS1275 ALBUQUERQUE NM 87158-1275 false true false false EXEC VP, CFO Common Stock 2017-03-03 4 A false 10156.00 A 99311.00 D Common Stock 2017-03-03 4 F false 3987.00 36.30 D 95324.00 D Common Stock 2017-03-04 4 M false 1569.00 A 96893.00 D Common Stock 2017-03-04 4 F false 736.00 36.30 D 96157.00 D Common Stock 2017-03-05 4 M false 1602.00 A 97759.00 D Common Stock 2017-03-05 4 F false 751.00 36.30 D 97008.00 D Common Stock 2017-03-06 4 S false 4000.00 36.3956 D 93008.00 D Restricted Stock Rights 2017-03-03 4 A false 4169.00 0.00 A Common Stock 4169.00 13402.00 D Restricted Stock Rights 2017-03-04 4 M false 1569.00 0.00 D Common Stock 1569.00 11833.00 D Restricted Stock Rights 2017-03-05 4 M false 1602.00 0.00 D Common Stock 1602.00 10231.00 D Phantom Stock Shares Common Stock 6856.00 6856.00 I PNM Common Stock Fund - PNM Resources Executive Savings Plan The following performance shares were earned as of December 31, 2016 and settled on March 3, 2017: (1) 7,402 shares earned for the 2014-2016 performance period and (2) 2,754 shares earned under a special performance based retention award. Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the settlement of the performance share awards described in (1) above. The company utilizes a modified "share withholding" approach in connection with settling awards of performance shares, in which it (i) withholds (in cash) an amount to satisfy 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 performance share award at the prevailing market price. Only these "net shares" are delivered to the recipient of the performance share award. Represents the portions of previous awards of restricted stock rights that vested effective as of March 4, 2017. Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the vesting and settlement of the restricted stock rights award described in (3) above. The company utilizes a modified "share withholding" approach in connection with settling awards of restricted stock rights, in which it (i) withholds (in cash) an amount to satisfy 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 restricted stock right award at the prevailing market price. Only these "net shares" are delivered to the recipient of the vested restricted stock rights award. Represents the portions of previous awards of restricted stock rights that vested effective as of March 5, 2017. Represents shares withheld by PNM Resources, Inc. to satisfy the tax withholding obligations arising in connection with the vesting and settlement of the restricted stock rights award described in (5) above. The company utilizes a modified "share withholding" approach in connection with settling awards of restricted stock rights, in which it (i) withholds (in cash) an amount to satisfy 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 restricted stock right award at the prevailing market price. Only these "net shares" are delivered to the recipient of the vested restricted stock rights award. Includes shares sold to provide a source of funds for payment of certain additional tax obligations of the reporting person. This transaction was executed in multiple trades at prices ranging from $36.375 USD to $36.425 USD; the price reported above reflects the weighted average sale price. Each restricted stock right represents a contingent right to receive one share of PNM Resources, Inc. common stock. The restricted stock units vest in three equal annual installments beginning one year from March 7, 2017. 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). 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). The security converts to common stock on a one-for-one basis. The phantom stock shares were acquired under the PNM Resources, Inc. Executive Savings Plan, and will settle upon the Reporting Person's retirement or other termination of service. Total represents phantom stock shares of PNM Resources, Inc. Common Stock acquired under the PNM Resources, Inc. Executive Savings Plan II as of February 28, 2017. /s/ Laurie S. Monfiletto, POA for Charles N. Eldred 2017-03-07 EX-24 2 eldredpoa.txt ELDRED POA Power of Attorney I, Charles N. Eldred, reside at 49 Broken Arrow Place, Sandia Park, New Mexico 87047. I appoint Laurie S. Monfiletto, Vice President, Human Resources, Corporate Headquarters, MS-0705, Albuquerque, New Mexico 87158; Angela Pino, Manager, Compensation, Corporate Headquarters, MS-0755, Albuquerque, New Mexico 87158; or Donna Briggs, Administrator III, Corporate Headquarters, MS-0705, Albuquerque, New Mexico 87158 to serve as my attorneys-in-fact to: (1) execute for me in my capacity as an Officer of PNM Resources, Inc. (Company), Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 (1934 Act) and the associated rules; (2) perform for me all acts which may be necessary or desirable to complete and execute Forms 3, 4, and 5, complete and execute any amendments, and timely file the forms with the United States Securities and Exchange Commission and the New York Stock Exchange, or similar authority; or (3) take any other action related to the powers identified in items (1) and (2), which, in the opinion of the attorneys-in-fact, may be legally required or beneficial to me. I acknowledge that the attorneys-in-fact are serving at my request and neither they nor the Company are assuming any of my responsibilities to comply with Section 16 of the 1934 Act. This Power of Attorney shall remain in full force and effect until I am no longer required to file Forms 3, 4, and 5 with respect to my holdings of and transactions in securities issued by the Company, unless earlier revoked by me in a signed writing delivered to the attorneys-in-fact. /s/ Charles N. Eldred Charles N. Eldred ACKNOWLEDGEMENT State of New Mexico ) ) ss. County of Bernalillo ) The foregoing instrument was acknowledged before me on February 24, 2016 by Charles N. Eldred. /s/Susan G. Gordon Notary Public My Commission Expires: September 12, 2016