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