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